Academy Art Museum Inc

Nonprofit profile at a glance

EIN
526051766
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Easton, MD, USA
Phone
4108222787
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$2,731,999
Expenses
$2,623,528
Assets
$12,448,156
Liabilities
$138,883

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • CHARLOTTE POTTER KASIC (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JENNIFER CHRZANOWSKI (DEPUTY DIRECTOR 9/24 - 7/25): $141,016 total reported compensation
  • CHARLOTTE POTTER KASIC (EXECUTIVE DIRECTOR): $70,963 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See sch o

What it reported doing in 2024

Art appreciation and education programs-the academy presents exhibits, concerts, education, and other similar programs to the general public.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67%; rating input score 67
  • Program expense ratio: 52.1%; rating input score 52
  • Fundraising efficiency: $5.03 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 4.74; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 67% of revenue deployed · 52.1% of spending went to programs
  • Governance: 24 of 24 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $141K · 26 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.