Civic Intelligence

American Academy in Rome

EIN 13-1623881 • 501(c)3 • New York, NY

Profile

The american academy in rome supports innovative artists, writers and scholars living and working together in a dynamic international community.

Refreshing map…

535 West 22nd StreetNew York, NY 10011

www.aarome.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

24th percentile

0.07x

Higher debt load relative to assets than 24% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.51x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$561,899

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

64th percentile

9.3%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

81%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$169,349,327

Up $14,466,676 (+9.3%) from 2023

Liabilities

Down

$11,509,808

Down $1,122,797 (-8.9%) from 2023

Net Assets

Up

$157,839,519

Up $15,589,473 (+11%) from 2023

Revenue

Up

$22,578,459

Up $10,117,260 (+81%) from 2023

Expenses

Up

$14,725,916

Up $71,464 (+0.5%) from 2023

Net Income

Up

$7,852,543

Up $10,045,796 (+458%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2011: $124,148,000Liabilities 2011: $2,839,325Net Assets 2011: $121,308,6752011Assets 2012: $118,371,605Liabilities 2012: $2,078,759Net Assets 2012: $116,292,8462012Assets 2013: $130,804,521Liabilities 2013: $2,474,098Net Assets 2013: $128,330,4232013Assets 2014: $138,759,413Liabilities 2014: $2,633,686Net Assets 2014: $136,125,7272014Assets 2015: $121,325,385Liabilities 2015: $2,432,114Net Assets 2015: $118,893,2712015Assets 2016: $120,078,344Liabilities 2016: $3,269,932Net Assets 2016: $116,808,4122016Assets 2017: $131,822,230Liabilities 2017: $2,844,318Net Assets 2017: $128,977,9122017Assets 2018: $132,556,666Liabilities 2018: $2,897,372Net Assets 2018: $129,659,2942018Assets 2019: $132,173,045Liabilities 2019: $3,344,810Net Assets 2019: $128,828,2352019Assets 2020: $137,030,639Liabilities 2020: $2,862,655Net Assets 2020: $134,167,9842020Assets 2021: $156,286,917Liabilities 2021: $3,929,373Net Assets 2021: $152,357,5442021Assets 2022: $145,667,565Liabilities 2022: $11,636,241Net Assets 2022: $134,031,3242022Assets 2023: $154,882,651Liabilities 2023: $12,632,605Net Assets 2023: $142,250,0462023Assets 2024: $169,349,327Liabilities 2024: $11,509,808Net Assets 2024: $157,839,5192024

Highlighted filing

2024

Assets$169,349,327
Liabilities$11,509,808
Net Assets$157,839,519

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $16,567,364Expenses 2011: $12,560,296Net Income 2011: $4,007,0682011Revenue 2012: $8,472,686Expenses 2012: $11,923,379Net Income 2012: -$3,450,6932012Revenue 2013: $12,682,129Expenses 2013: $12,302,945Net Income 2013: $379,1842013Revenue 2014: $11,516,188Expenses 2014: $13,519,697Net Income 2014: -$2,003,5092014Revenue 2015: $9,028,888Expenses 2015: $12,616,371Net Income 2015: -$3,587,4832015Revenue 2016: $11,210,522Expenses 2016: $12,551,979Net Income 2016: -$1,341,4572016Revenue 2017: $12,738,744Expenses 2017: $12,511,030Net Income 2017: $227,7142017Revenue 2018: $13,836,059Expenses 2018: $12,843,146Net Income 2018: $992,9132018Revenue 2019: $18,721,529Expenses 2019: $13,251,979Net Income 2019: $5,469,5502019Revenue 2020: $14,350,196Expenses 2020: $11,040,086Net Income 2020: $3,310,1102020Revenue 2021: $13,968,918Expenses 2021: $11,142,187Net Income 2021: $2,826,7312021Revenue 2022: $24,816,827Expenses 2022: $12,581,577Net Income 2022: $12,235,2502022Revenue 2023: $12,461,199Expenses 2023: $14,654,452Net Income 2023: -$2,193,2532023Revenue 2024: $22,578,459Expenses 2024: $14,725,916Net Income 2024: $7,852,5432024

Highlighted filing

2024

Revenue$22,578,459
Expenses$14,725,916
Net Income$7,852,543

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$11.5$158$22.6$14.7$7.85
2023Detailed filing. Detailed filing data is available for this year.$155$12.6$142$12.5$14.7$2.19
2022Detailed filing. Detailed filing data is available for this year.$146$11.6$134$24.8$12.6$12.2
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$156$3.93$152$14.0$11.1$2.83
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$137$2.86$134$14.4$11.0$3.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$132$3.34$129$18.7$13.3$5.47
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$133$2.90$130$13.8$12.8$0.99
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$132$2.84$129$12.7$12.5$0.23
2016Detailed filing. Detailed filing data is available for this year.$120$3.27$117$11.2$12.6$1.34
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$121$2.43$119$9.03$12.6$3.59
2014Detailed filing. Detailed filing data is available for this year.$139$2.63$136$11.5$13.5$2.00
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$131$2.47$128$12.7$12.3$0.38
2012Summary only. Only limited summary data is available for this year.$118$2.08$116$8.47$11.9$3.45
2011Summary only. Only limited summary data is available for this year.$124$2.84$121$16.6$12.6$4.01
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Jul 15, 2024
Return Version
2022v5.0
Gross Receipts
$22,687,506
Mission and Program Overview

Mission

The american academy in rome supports innovative artists and scholars living and working together in a dynamic international community in rome.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$63,827,067$72,701,955▲ $8,874,888
Investments in Publicly Traded Securities$48,700,261$52,111,292▲ $3,411,031
Land, Buildings, and Equipment, Net$13,870,763$14,162,472▲ $291,709
Pledges and Grants Receivable$5,408,705$4,119,556▼ $1,289,149
Cash and Non-Interest-Bearing Accounts$5,446,343$3,071,069▼ $2,375,274
Prepaid Expenses and Deferred Charges$705,738$1,402,862▲ $697,124
Total Assets$145,667,565$154,882,651▲ $9,215,086
Other Assets Total$7,708,688$7,313,445▼ $395,243
Liabilities
Other Liabilities$8,662,391$8,727,459▲ $65,068
Accounts Payable and Accrued Expenses$2,106,928$3,525,890▲ $1,418,962
Deferred Revenue$499,468$379,256▼ $120,212
Unsecured Notes Loans Payable$367,454--
Total Liabilities$11,636,241$12,632,605▲ $996,364
Net Assets / Fund Balance
Net Assets With Donor Restrictions$100,846,658$108,211,907▲ $7,365,249
Net Assets Without Donor Restrictions$33,184,666$34,038,139▲ $853,473
Total Net Assets Fund Balance$134,031,324$142,250,046▲ $8,218,722
Total Liabilities and Net Assets / Fund Balance$145,667,565$154,882,651▲ $9,215,086

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$14,162,472$23,706,391$37,868,863
Other Securities$1,442,301--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$108,677,774$2,975,422▲ $11,838,677$5,412,089$117,235,634
2021$129,822,765$2,530,310▼ $16,917,270$5,946,391$108,677,774
2020$112,138,931$351,257▲ $22,971,160$5,074,939$129,822,765
2019$108,343,073$1,208,644▲ $7,971,228$4,540,285$112,138,931
2018$107,783,742$5,501,710▲ $454,259$4,492,188$108,343,073
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark RobbinsPresident & CEO (until July 31, 2023)FT$468,385$68,171$536,556
Mark RobbinsPresident & CEO (until July 31, 2023-$468,385$68,171$536,556
Paola GaetaniGeneral ManagerFT$380,335$46,738$427,073
Tara Mia PaoneChief Financial OfficerFT$237,684$41,577$279,261
Sebastian HierlDrue Heinz LibrarianFT$127,599$57,122$184,721
Elizabeth HarrisDirector of DevelopmentFT$140,504$16,517$157,021
Sara ArgentieriDeputy Director for Finance and AdminFT$104,628$43,838$148,466
Marilyn HernandezVP for DevelopmentFT$123,116$18,274$141,390

Board Members and Trustees

NameTitle
Calvin TsaoChair (effective 1/1/2023)
Cary J DavisChair (until 12/31/2022)
Peter N MillerPresident & CEO (effective 8/1/2023)
Alessia AntinoriVice-chair (effective 1/1/2023)
John F W RogersVice-chair (until 12/31/2022)
Adam D WeinbergTrustee
Ann HamiltonTrustee
Anne Welsh McnultyTrustee
Carrie Mae WeemsTrustee
Charles K Williams IiTrustee
Cole FratesTrustee
David I KertzerTrustee
David M StoneTrustee
David a LangTrustee
Francesco StaraceTrustee
Francine C ProseTrustee
Ginevra ElkannTrustee
Guy HedreenTrustee
Henry P JohnsonTrustee
Katharine J RaynerTrustee
Maria Teresa Venturini FendiTrustee
Marilynn a DavisTrustee
Martin BrodyTrustee
Mary BurnhamTrustee
Michael StrausTrustee
Michelle HobartTrustee
Nico MuhlyTrustee
Phu HoangTrustee
Shadi Bartsch-zimmerTrustee
Sharon DavisTrustee
Simon D MordantTrustee
Slobodan RandjelovicTrustee
Stephen GreenblattTrustee
Susanna BorgheseTrustee
Suzy WahbaTrustee
Sydney H WeinbergTrustee
T Corey BrennanTrustee
Tod C WilliamsTrustee
Joseph a Farrell JrTrustee (until 12/31/2022)
Lyle Ashton HarrisTrustee (until 12/31/2022)
Walter J HoodTrustee (until 12/31/2022)
William B Mcgurn IiiTrustee (until 12/31/2022)
Michael BierutTrustee (until 3/25/2023)
Aliza WongTrustee. Director in Rome
Alexandra MunroeSecretary (effective 1/1/2023)
Jim BrennanSecretary (until 12/31/2022)
William M CameronTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Clune Construction Co LPNy Office Construction405 LEXINGTON AVENUE 28TH FLOOR, New York, NY 10174$1,096,923
Spencer StuartSearch Fee90 PARK AVE 4TH FLOOR, New York, NY 10016$170,500
Monticello AssociatesInvestment Management1800 LARIMER STREET, Denver, CO 80202$125,000
Revenue and Support

Revenue Composition

Contributions and Grants
$8,407,342
Program Service Revenue
$2,338,855
Investment Income
$1,434,171
Other Revenue
$280,831
All Other Contributions
$6,558,512
Change in Net Assets
$-2,193,253

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded13$351,300Average Value
Total Noncash Contributions13$351,300-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,336,199
Revenue Not Reported on Financial Statements
$125,000
Revenue Not Reported on Form 990
$11,519,272
Total Revenue per Audited Statements
$23,855,471
Total Revenue per Form 990
$12,461,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,575,313
Salaries, Compensation, and Employee Benefits$6,234,989
Total Fundraising Expense$1,889,577
Grants and Similar Amounts Paid$844,150
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,574,986$1,024,351$741,291$4,340,628
Fees for Services Other$1,587,957$356,083$359,074$2,303,114
Occupancy$1,573,527$49,647$170,327$1,793,501
Depreciation Depletion$1,068,523$2,083$2,864$1,073,470
Current Officers, Directors, Trustees, and Key Employees$578,087$229,968$166,421$974,476
Grants to Domestic Individuals$779,350--$779,350
Office Expenses$598,099$23,976$89,261$711,336
Payroll Taxes$413,415$164,459$119,015$696,889
Travel$286,306$102,647$40,844$429,797
Other Expenses$158,449$15,144$2,076$175,669
Other Employee Benefits$88,116$35,053$25,367$148,536
Fees for Service Investment Mgmnt Fees-$125,000-$125,000
Fees for Services Legal$16,606$99,567-$116,173
Information Technology$55,837$10,355$12,717$78,909
Pension Plan Contributions$44,172$17,572$12,716$74,460
Fees for Services Accounting-$70,012-$70,012
Foreign Grants$64,800--$64,800
Conferences and Meetings$1,624-$60,000$61,624
Advertising$681$715$807$2,203
Total Functional Expenses$10,068,952$2,695,923$1,889,577$14,654,452

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$14,654,452
Expenses per Audited Statements$14,529,452
Total Expenses per Audited Statements$14,529,452
Expenses Not Reported on Financial Statements$125,000
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
3
Employees
49
Spending
$36,231,766

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments - Form 990, Part X, Line 12---$27,114,716
EuropeProgram ServicesOperation of Residential Research Center146$7,399,980
EuropeManagement and General (janus, S.u.r.l.)-13$1,652,270
EuropeGrants to Recipients Located in the Region-1-$64,800
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$139,491
Fundraising Gross Income$139,491
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Rome - Gala$439,927$96,441$96,441$0
Ny Gala$1,126,040$43,050$43,050$0
Total Events$1,565,967$139,491$139,491$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$7,500,685
Severance Liabilities$719,765
Refundable Advances$494,175
Other Liabilities$12,834
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

The academy has an advisory council to the committee on the humanities. The members of the advisory council represent academic institutions which annually contribute funds to the academy. The board of trustees elects to its number every three years for a three year term a person nominated by the advisory council. The board elects to its number every two years for a two-year term a person elected as the president of the council of the society of fellows. The society of fellows is an organization whose membership is comprised of those who have been awarded a fellowship, affiliated fellowship, or residency at the american academy in rome. Rome prize winners become members upon completing their term at the academy.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the academy's finance team and a copy of the form 990 is distributed to each member of the board of trustees. The members of the board of trustees are asked to review the form 990 and identify any questions or comments they have regarding the form 990 before its submission.

Form 990, Part VI, Section B, Line 12C

A copy of the conflict of interest policy and conflict disclosure form is furnished to trustees and staff members with hiring or purchasing authority annually. Management collects and reviews disclosure forms, and no conflicts were disclosed for this period. During a committee's consideration of a matter, any person with a conflict or potential conflict discloses their conflict, recuses themselves from the discussion and decision, and retires from the meeting if necessary.

Form 990, Part VI, Section B, Line 15A

The president's compensation is reviewed by a compensation committee of board members, including the chairman of the board. The president's performance and compensation are reviewed annually. The compensation committee reviews executive compensation information obtained from outside sources such as surveys and form 990s for comparable organizations, and sets the president's compensation. The committee also reviews a schedule of officers and key employees' compensation history and advises regarding their compensation, which is set by the president after a performance evaluation.

Form 990, Part VI, Section C, Line 19

Copies of the organization's by-laws, audited financial statements, and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
American Academy in Rome
EIN
13-1623881
Phone
2127517200
Address
535 WEST 22ND STREET, NEW YORK, NY 10011

Signing Officer

Name
Tara Mia Paone
Title
CFO
Phone
2127517200
Signed
2024-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter N Miller
Formed
1894
Legal Domicile
Dc
Voting Board Members
39
Independent Board Members
37
Employees
27
Volunteers
60

Preparer

Firm
Lutz and Carr Cpas Llp
Address
551 FIFTH AVENUE SUITE 400, NEW YORK, NY 10176
Preparer
Frederick Martens
Phone
2126972299
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other consulting fees: program service expenses 1,587,957. Management and general expenses 356,083. Fundraising expenses 359,074. Total expenses 2,303,114.

FORM 990, PART XI, LINE 9:

Foreign currency translation adjustment 967,110. Write-off of fixed assets -661,199. Reclass of prior year net assets with donor restrictions -446,098.

Financial Statement Notes

PART III, LINE 4:

The arthur and janet c. Ross library of the american academy in rome contains over 167,000 volumes in the fields of classical studies, and the history of art and architecture. Especially strong, are the collections in ancient mediterranean archaeology and art, greek and latin literature, ancient topography (including the history of the city of rome), ancient religions, and related fields such as epigraphy, numismatics and papyrology. The rare book collection comprises chiefly 16th-18th century imprints in classical studies, archaeology, art and architecture, including sizeable collections of roman guidebooks and early art treatises. The photographic archive of the american academy in rome consists of several valuable and specialized collections of photographs on archaeology, architecture and art, as well as landscape architecture and gardens. It also includes special collections important to the history of the academy. The american academy in rome maintains a small but varied collection of archaeological artifacts available for study. The collection includes pottery, from greek geometric vases of the eighth century bc to roman common ware of the later empire, architectural terracottas, cinerary urns, votive objects, jewelry, coins, oil lamps, all sorts of sculpture (in terracotta and stone, in relief and in the round), etruscan mirrors, and samples of the most important ancient marble types. These materials are used for education, study, and research purposes.

PART V, LINE 4:

The endowment funds generate ongoing support for the academy's programs. The majority of the income supports the cost of fellowships and residencies, as well as the operation of the academy's library.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Foreign currency translation adjustment 967,110.

Raw XML AppendixShowing 400 of 1,163 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0THE AMERICAN ACADEMY IN ROME SUPPORTS INNOVATIVE ARTISTS AND SCHOLARS LIVING AND WORKING TOGETHER IN A DYNAMIC INTERNATIONAL COMMUNITY IN ROME.
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IRS990/BooksInCareOfDetail/PhoneNum02127517200
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IRS990/Desc0FELLOWSHIPS AND RESIDENCIES:THROUGH ITS ANNUAL ROME PRIZE FELLOWSHIP PROGRAM, THE ACADEMY SUPPORTED THIRTY- ONE INDIVIDUALS WORKING IN ARCHITECTURE, ANCIENT STUDIES, DESIGN, HISTORIC PRESERVATION AND CONSERVATION, LANDSCAPE ARCHITECTURE, LITERATURE, MEDIEVAL STUDIES, MODERN ITALIAN STUDIES, MUSICAL COMPOSITION, RENAISSANCE AND EARLY MODERN STUDIES, AND VISUAL ARTS. THE FELLOWSHIP WINNERS IN RESIDENCE AT THE ACADEMY PURSUE THEIR OWN INDEPENDENT PROJECTS FOR PERIODS OF 5 MONTHS TO 2 YEARS. IN ADDITION, THE ACADEMY COMMUNITY INCLUDED TWELVE RESIDENTS, WHO ARE EMINENT ARTISTS AND SCHOLARS WHO STAY AT THE ACADEMY FOR PERIODS UP TO 4 MONTHS, TWENTY-ONE AFFILIATED FELLOWS, SELECTED BY SPONSORING INSTITUTIONS, AND FIVE ITALIAN FELLOWS, SELECTED BY THE ACADEMY TO STAY AT THE ACADEMY FOR PERIODS OF 3 OR 4 MONTHS.
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