Civic Intelligence

Academy Art Museum Inc.

990 • Fiscal year 2014 • EIN 52-6051766

Sep 01, 2013 to Aug 31, 2014 • Filed on Jun 15, 2015

106 South Street21601

(410) 822-2787

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

22nd percentile

0.02x

Higher debt load relative to assets than 22% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

29th percentile

0.08x

Higher debt load relative to revenue than 29% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

84th percentile

29%

Higher net margin than 84% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

63rd percentile

$146,640

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

62nd percentile

6.4%

Faster asset growth than 62% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

70th percentile

13%

Faster revenue growth than 70% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2014

Assets

Up

$7,090,450

Up $425,891 (+6.4%) from 2013

Net Assets

Up

$6,920,032

Up $488,003 (+7.6%) from 2013

Liabilities

Down

$170,418

Down $62,112 (-27%) from 2013

Revenue

$2,147,238

No earlier filing loaded for comparison.

Expenses

Up

$1,517,075

Up $15,830 (+1.1%) from 2013

Net Income

$630,163

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $6,468,997Liabilities 2011: $153,635Net Assets 2011: $6,315,3622011Assets 2012: $6,578,807Liabilities 2012: $178,948Net Assets 2012: $6,399,8592012Assets 2013: $6,664,559Liabilities 2013: $232,530Net Assets 2013: $6,432,0292013Assets 2014: $7,090,450Liabilities 2014: $170,418Net Assets 2014: $6,920,0322014Assets 2015: $6,670,971Liabilities 2015: $172,353Net Assets 2015: $6,498,6182015Assets 2016: $7,611,198Liabilities 2016: $223,933Net Assets 2016: $7,387,2652016Assets 2017: $7,734,184Liabilities 2017: $289,492Net Assets 2017: $7,444,6922017Assets 2018: $10,252,873Liabilities 2018: $189,721Net Assets 2018: $10,063,1522018Assets 2019: $10,302,877Liabilities 2019: $326,521Net Assets 2019: $9,976,3562019Assets 2020: $11,923,401Liabilities 2020: $114,017Net Assets 2020: $11,809,3842020Assets 2021: $12,678,552Liabilities 2021: $105,575Net Assets 2021: $12,572,9772021Assets 2022: $11,255,379Liabilities 2022: $126,115Net Assets 2022: $11,129,2642022Assets 2023: $11,635,129Liabilities 2023: $261,598Net Assets 2023: $11,373,5312023Assets 2024: $12,602,247Liabilities 2024: $130,581Net Assets 2024: $12,471,6662024

Highlighted filing

2014

Assets$7,090,450
Liabilities$170,418
Net Assets$6,920,032

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,484,809Expenses 2011: $1,215,129Net Income 2011: $269,6802011Expenses 2012: $1,324,6122012Expenses 2013: $1,501,2452013Revenue 2014: $2,147,238Expenses 2014: $1,517,075Net Income 2014: $630,1632014Revenue 2015: $1,259,492Expenses 2015: $1,532,979Net Income 2015: -$273,4872015Revenue 2016: $2,397,895Expenses 2016: $1,687,104Net Income 2016: $710,7912016Revenue 2017: $1,493,187Expenses 2017: $1,708,926Net Income 2017: -$215,7392017Revenue 2018: $4,066,672Expenses 2018: $1,753,426Net Income 2018: $2,313,2462018Revenue 2019: $1,681,441Expenses 2019: $1,656,077Net Income 2019: $25,3642019Revenue 2020: $2,915,751Expenses 2020: $1,500,746Net Income 2020: $1,415,0052020Revenue 2021: $1,323,852Expenses 2021: $1,481,864Net Income 2021: -$158,0122021Revenue 2022: $1,402,420Expenses 2022: $1,685,182Net Income 2022: -$282,7622022Revenue 2023: $1,918,789Expenses 2023: $1,948,617Net Income 2023: -$29,8282023Revenue 2024: $2,793,502Expenses 2024: $1,875,107Net Income 2024: $918,3952024

Highlighted filing

2014

Revenue$2,147,238
Expenses$1,517,075
Net Income$630,163
Jump To
Filing Snapshot
Filing Period
Sep 1, 2013 to Aug 31, 2014
Signed
Jun 15, 2015
Return Version
2013v4.0
Gross Receipts
$5,457,109
Mission and Program Overview

Mission

The mission of the academy art museum is to promote the knowledge, practice, and appreciation of the arts and to enhance cultural life on the eastern shore by making available to everyone the museum's expanding collection, exhibitions, and broad spectrum of arts programs.

The mission of the academy art museum is to provide the knowledge, practice, and appreciation of the arts and to enhance cultural life on the eastern shore by making available to everyone the museums expanding collection, exhibitions, and broad spectrum of arts programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,254,514$3,735,960▲ $481,446
Land, Buildings, and Equipment, Net$2,949,914$2,642,163▼ $307,751
Pledges and Grants Receivable$195,669$315,385▲ $119,716
Savings and Temporary Cash Investments$171,174$273,101▲ $101,927
Investments Other Securities$72,468$111,616▲ $39,148
Prepaid Expenses and Deferred Charges$5,745$11,866▲ $6,121
Accounts Receivable$15,000$359▼ $14,641
Cash and Non-Interest-Bearing Accounts$75--
Total Assets$6,664,559$7,090,450▲ $425,891
Liabilities
Deferred Revenue$207,346$119,208▼ $88,138
Accounts Payable and Accrued Expenses$25,184$51,210▲ $26,026
Total Liabilities$232,530$170,418▼ $62,112
Net Assets / Fund Balance
Unrestricted Net Assets$6,188,263$6,587,234▲ $398,971
Permanently Rstr Net Assets$197,850$197,850→ $0
Temporarily Rstr Net Assets$45,916$134,948▲ $89,032
Total Net Assets Fund Balance$6,432,029$6,920,032▲ $488,003
Total Liabilities and Net Assets / Fund Balance$6,664,559$7,090,450▲ $425,891

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,556,090$1,799,377$4,355,467
Equipment$43,331$439,524$482,855
Land$42,742-$42,742

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$3,252,313$215,103▲ $419,193$152,849$3,733,760
2012$3,041,446$143,199▲ $226,927$159,269$3,252,313
2011$2,963,369-▲ $209,350$131,263$3,041,456
2010$2,505,968$202,821▲ $275,563$20,983$2,963,369
2009$2,429,364-▲ $196,508$119,904$2,505,968
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik H NeilExecutive DiFT$132,054$14,586$146,640
Revenue and Support

Revenue Composition

Contributions and Grants
$1,490,782
Program Service Revenue
$267,233
Investment Income
$426,050
Other Revenue
$-36,827
All Other Contributions
$1,054,319
Change in Net Assets
$630,163

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$99,122Fair Market Value
Total Noncash Contributions6$99,122-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,147,238
Revenue Not Reported on Form 990
$7,419
Total Revenue per Audited Statements
$2,154,657
Total Revenue per Form 990
$2,147,238
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$912,101
Salaries, Compensation, and Employee Benefits$604,974
Total Fundraising Expense$259,802
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$231,579$38,723$67,581$337,883
Other Salaries and Wages$169,189$83,885$81,119$334,193
Current Officers, Directors, Trustees, and Key Employees$87,024$43,147$41,724$171,895
Depreciation Depletion$133,362$10,116-$143,478
Office Expenses$53,063$43,087$28,888$125,038
Occupancy$82,402$7,934$3,267$93,603
Other Employee Benefits$21,126$12,128$11,964$45,218
Advertising$34,096$4,490$2,655$41,241
Fees for Services Accounting-$38,000-$38,000
Payroll Taxes$15,023$8,624$8,507$32,154
Insurance$26,042$2,980-$29,022
Travel$20,957$1,447$134$22,538
Pension Plan Contributions$10,052$5,770$5,692$21,514
Other Expenses$13,846$1,012$779$13,846
Fees for Service Investment Mgmnt Fees-$12,656-$12,656
Total Functional Expenses$929,877$327,396$259,802$1,517,075

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,666,654
Expenses per Audited Statements$1,533,145
Total Expenses per Form 990$1,517,075
Expenses Not Reported on Form 990$133,509
Expenses Not Reported on Financial Statements$-16,070
Other Expense Adjustments$-16,070
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$133,509
Fundraising Gross Income$82,648
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$234,925$39,360$30,763$8,597
Event 2$68,159$39,268$18,605$20,663
Total Events$311,509$82,648$133,509$-50,861
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The finance committee compares the form 990 to the audited financial statements before signing and filing the return.

Form 990, Page 6, Part VI, Line 12C

The organization reviews the policy with each employee during their annual performance review.

Form 990, Page 6, Part VI, Line 15A

The compensation of the executive director is approved by the board of trustees with careful consideration of the qualitative and quantitative success of the organization and comparison with other local non-profit executive director compensation packages.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, financial statements, and/or conflict of interest policy are available upon receipt of written request.

Filing and Contact Details

Filer

EIN
52-6051766
Phone
4108222787

Signing Officer

Name
Robert Lonergan
Title
Treasurer
Phone
4108222787
Signed
2015-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Perkins Chair
Formed
1958
Legal Domicile
Md
Voting Board Members
30
Independent Board Members
30
Employees
12
Volunteers
127

Preparer

Preparer
Joan Leanos CPA
Phone
4102240343
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of the academy art museum is to provide the knowledge, practice, and appreciation of the arts and to enhance cultural life on the eastern shore by making available to everyone the museums expanding collection, exhibitions, and broad spectrum of arts programs.

Form 990, Part IX, Line 11G

Artist fees 22,419 0 0 instructor fees 154,355 0 0 other professional fees 54,805 38,723 67,581

Form 990, Part XI, Line 9

Reclassification of fundraising expenses 133,509 reclassification of fundraising expenses -133,509 purchase of artwork for the museum's collection -16,070

Financial Statement Notes

Schedule D, Page 1, Part II, Line 9

The organization does not report the conservation easement on its financial statements the organization is in regular contact with the maryland historic trust which typically performs annual visits.

Schedule D, Page 1, Part III, Line 1A

The museum's permanent collection consists of works of art held for educational, exhibition, and research purposes pieces in the collection are cataloged, preserved, and cared for, activities to inventory and assess their condition are performed regularly. The collection is subject to a policy that requires proceeds from the sale of deaccessioned items to be used solely for the acquisition of other objects for the collection in conformity with the practice followed by many museums. The collection, which has been acquired through contributions and purchases since the museum's inception is not recognized as an asset on the statement of financial position. Purchases of artwork for the collection are recorded as unrestricted expense in the year in which the items are acquired or as a release of temporarily or permanently restricted net assets if the assets to purchase the are items are so restricted by donors. Contributed permanent collection items are not reflected in the financial statements proceeds from sales and insurance recoveries are reflected as income in the appropriate net asset class.

Schedule D, Page 2, Part III, Line 4

See description at part iii, line 1a above

Schedule D, Page 2, Part V, Line 4

The intended use of the organization's endowment funds is the continued support of its education and art programs within the mission of the museum.

Schedule D, Page 3, Part X

The museum is exempt from income taxes under internal revenue code 501(c) (3). In addition, the museum has been classified as an organization that is not a private foundation under section 509(a)(1). A portion of income from certain activities not directly related to the museum's tax exempt purpose may be subject to taxation as unrelated business income. For the years ended august 31, 2014 and 2013 no income taxes were due. However, income from certain activities not directly related to the museum's tax- exempt purpose may be subject to taxation as unrelated business income. The museum believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The museum's informational return is subject to examination by the internal revenue service, generally for three years after it is filed.

Schedule D, Page 4, Part XI, Line 2D

Reclassification of fundraising expenses 133,509

Schedule D, Page 4, Part XII, Line 2D

Reclassification of fundraising expenses 133,509

Schedule D, Page 4, Part XII, Line 4B

Purchase of artwork for the museum's collection -16,070

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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30EXECUTIVE DI
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IRS990/FundraisingDirectExpensesAmt0133509
IRS990/FundraisingGrossIncomeAmt082648
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IRS990/GainOrLossGrp/SecuritiesAmt0410861
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/MissionDesc0THE MISSION OF THE ACADEMY ART MUSEUM IS TO PROVIDE THE KNOWLEDGE, PRACTICE, AND APPRECIATION OF THE ARTS AND TO ENHANCE CULTURAL LIFE ON THE EASTERN SHORE BY MAKING AVAILABLE TO EVERYONE THE MUSEUMS EXPANDING COLLECTION, EXHIBITIONS, AND BROAD SPECTRUM OF ARTS PROGRAMS.
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IRS990/OtherExpensesGrp/Desc0SUPPLIES AND MATERIALS
IRS990/OtherExpensesGrp/Desc1ARTWORK EXHIBIT EXPENSE
IRS990/OtherExpensesGrp/Desc2PROGRAM TRIPS EXPENSE
IRS990/OtherExpensesGrp/FundraisingAmt07492
IRS990/OtherExpensesGrp/FundraisingAmt1779
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013397

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$0.13$12.5$2.79$1.88$0.92
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.6$0.26$11.4$1.92$1.95$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$0.13$11.1$1.40$1.69$0.28
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$0.11$12.6$1.32$1.48$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$0.11$11.8$2.92$1.50$1.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.3$0.33$9.98$1.68$1.66$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.3$0.19$10.1$4.07$1.75$2.31
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.73$0.29$7.44$1.49$1.71$0.22
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.61$0.22$7.39$2.40$1.69$0.71
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.67$0.17$6.50$1.26$1.53$0.27
2014Detailed filing. Detailed filing data is available for this year.$7.09$0.17$6.92$2.15$1.52$0.63
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.66$0.23$6.43$1.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.58$0.18$6.40$1.32
2011Summary only. Only limited summary data is available for this year.$6.47$0.15$6.32$1.48$1.22$0.27