Academy of American Poets Incorporated

Analysis

Academy of American Poets Incorporated is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1936, 90 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Academy of American Poets Incorporated reported income of $2.4m and spending of $5.3m, spending 221% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $2.4m (-43%), an average of -13% a year. The sharpest change came in the year to June 2020, when income rose by 55%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Academy of American Poets Incorporated sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Deetjens Inc ($2.4m), New Mexico Philharmonic Inc ($2.4m) and Friends of the Corpus Christi Museum of Science and History ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 8.7% of the total. Compensation of current officers, directors and key employees was $291k (5.4% of expenses). Other salaries and wages came to $836k. At year end it held assets of $13.5m against liabilities of $2.3m, net assets of $11.2m. It reported 23 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.