National Academy of Design

Nonprofit profile at a glance

EIN
131628183
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
New York, NY, USA
Phone
2123694880
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Higher Education Institutions

Official website

Reported finances

Revenue
$6,117,026
Expenses
$3,587,125
Assets
$92,469,257
Liabilities
$4,062,393

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • WENDY EVANS JOSEPH (PRESIDENT)
  • ANDREW GINZEL (VICE PRESIDENT)
  • GREGORY WESSNER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • GREGORY WESSNER (EXECUTIVE DIRECTOR): $200,789 total reported compensation
  • ELIZA COVIELLO (DEPUTY DIRECTOR): $157,451 total reported compensation
  • SARA REISMAN (CHIEF CURATOR): $141,891 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the national academy of design is to promote the fine arts in america through exhibition and education.

What it reported doing in 2023

Art exhibitions: since 1825, the national academy has organized scholarly and exciting exhibitions of american art and architecture that focus on the work of individual artists and architects in its membership, as well as explore relevant, current important themes, events, and issues. In fy2024, we showed four exhibitions, including "drawing as practice," "sites of impermanence," "as told by its makers: recent acquisitions of contemporary art, and "191st annual: academy style." collections: the national academy maintains a collection of nearly 8,000 works of american art and architecture in addition to a historic archive of records, documents, and ephemera related to the academy's history and membership. In fy2024, the academy added 30 additional works to its collection.public programs: we provide public and educational programming to accompany and provide context for exhibitions and other activities at the national academy. Some programs from fy2024 included a series to accompany the exhibition, "drawing as practice" titled ; a drawing workshop with artist jenny polak; and a series of architecture talks and panels with national academician architect members.

Operating model

Revenue model
Investment-supported. 84% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 97% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 81
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 56.1%; rating input score 56
  • Fundraising efficiency: $1.07 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 41.4%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 25.78; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 17.5%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -13.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 94.2% of revenue deployed · 56.1% of spending went to programs
  • Governance: 23 of 23 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $201K · 27 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $110K reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.