Overview
What is American Academy Of Art Inc?
American Academy of Art Inc, headquartered in Chicago, Illinois, is a nonprofit organization that operates a school of commercial art and fine arts. Their primary focus is on providing education in various art disciplines, including digital illustration, graphic design, multimedia design, 3-D modeling and animation, life drawing, oil and watercolor painting, photography, and art direction. With a team of 70 employees, the institution is dedicated to nurturing talent in these fields, offering a Bachelor of Fine Art degree program. The American Academy of Art College Inc is committed to fostering creativity and artistic growth within its community.
Official website here: www.aaart.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The American Academy Of Art Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in several areas of its operations. With an overall score of 62%, the organization demonstrates some strengths, particularly in board independence and financial oversight, where it scored full marks. However, the overall performance reflects significant weaknesses, especially in the area of financial health, as indicated by a concerning liabilities to assets ratio over 100%.
The organization has a majority of independent board members and adheres to important oversight policies, contributing positively to its governance framework. Yet, the absence of a whistleblower policy and document retention procedures highlights areas that require attention to enhance transparency and accountability. Additionally, the failure to post tax forms on its website limits public accessibility to crucial financial information, which is essential for fostering trust among donors and stakeholders.
Moreover, while the program expense ratio is relatively strong, indicating a good portion of resources directed toward its mission, the financial sustainability appears to be at risk. The combination of high liabilities and low overall scores suggests that the American Academy Of Art Inc must address these limitations to improve its operational effectiveness and donor confidence in the future.
This AI summary has been generated from information found on Charity Navigator.
Is American Academy Of Art Inc legitimate?
American Academy Of Art Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. American Academy Of Art Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $226,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,153,775
For more financial information, click here
Official website here: www.aaart.edu
What is the mission statement of American Academy Of Art Inc?
The American Academy of Art Inc, as a mission, operates a school that encompasses both commercial art and fine arts. Its primary objective is to provide an educational platform for these disciplines, focusing on areas such as digital illustration, graphic design, multimedia design, 3-D modeling and animation, life drawing, oil and watercolor painting, photography, and art direction. The academy aims to nurture its students' artistic abilities and prepare them for potential careers in these fields by offering a Bachelor of Fine Art degree program.
Official website here: www.aaart.edu
Who is the CEO of American Academy Of Art Inc?
Richard Otto is the President of American Academy Of Art Inc.
Official website here: www.aaart.edu
What is the revenue of American Academy Of Art Inc?
American Academy Of Art Inc's revenue in 2022 was $5,141,668.
Official website here: www.aaart.edu
Who are the executives of American Academy Of Art Inc and what are their salaries?
The average compensation at American Academy Of Art Inc during 2022 was $34,005. There are 70 employees and 4 volunteers at American Academy Of Art Inc.
Here are 7 key members and their salaries:
- Compensation: $100,600
- Related: $0
- Other: $0
- Compensation: $121,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $158,100
- Related: $0
- Other: $0
Official website here: www.aaart.edu
Where can I find the form 990 for American Academy Of Art Inc?
American Academy Of Art Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aaart.edu
Learn more at the official website: www.aaart.edu
Mission Statement of American Academy Of Art Inc
The American Academy of Art Inc, as per its mission, operates a school that specializes in both commercial art and fine arts. This esteemed institution is dedicated to providing an educational environment where students can pursue their passion in various artistic disciplines, such as digital illustration, graphic design, multimedia design, 3-D modeling and animation, life drawing, oil and watercolor painting, photography, and art direction. By enrolling in the American Academy of Art Inc, students are given the opportunity to hone their skills and embark on a rewarding career in the creative industry.
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Impact
July, 2024
The American Academy of Art Inc has had a significant impact by providing education and training in commercial art and fine arts in Chicago, Illinois. Through its Bachelor of Fine Art degree program, the academy offers instruction in a variety of artistic disciplines including digital illustration, graphic design, multimedia design, 3-D modeling and animation, life drawing, oil and watercolor painting, photography, and art direction. By offering these educational opportunities, the American Academy of Art Inc plays a key role in nurturing the talents and skills of aspiring artists and designers, contributing to the growth and development of the creative community in Chicago and beyond.
This information is meant to be a general summary of American Academy Of Art Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,935
- Program Service Revenue: $4,111,586
- Gross Receipts: $5,451,699
Assets and Liabilities:
- Total Assets: $27,565,968
- Total Liabilities: $27,702,411
- Net Assets: -$136,443
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND FEES
Revenue
$4,111,586
Organization Details
Founding Year
2013
Phone
(312) 461-0600Principal Officer
Richard Otto
Main Address
332 SOUTH MICHIGAN AVE, CHICAGO, IL, 606044302
Website
www.aaart.eduNTEE Category
Code: B99 - Education
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