Pennsylvania Academy of the Fine Arts
Nonprofit profile at a glance
- EIN
- 231352256
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Philadelphia, PA, USA
- Phone
- 2159727600
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Higher Education Institutions
Reported finances
- Revenue
- $17,818,875
- Expenses
- $16,136,591
- Assets
- $131,485,161
- Liabilities
- $36,777,129
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
45 people listed
Executive titles in this filing
- ERIC G PRYOR (PRESIDENT & CEO)
Highest reported compensation
- ERIC G PRYOR (PRESIDENT & CEO): $479,971 total reported compensation
- LISA KUHNLE-BIAGAS (CHIEF ADMINISTRATIVE OFFIC): $330,685 total reported compensation
- JANE ALLSOPP (CHIEF DEVELOPMENT OFFICER): $172,348 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The academy operates a post-secondary educational program in fine arts as well as a gallery collection of american art. In addition, the academy sponsors fine arts classes for all ages and free arts programs.
What it reported doing in 2024
Pafa operates a gallery that displays great works of american art. It is the oldest such gallery in the u.s. And its principal building is a historical structure. The school also hosts several special exhibitions each year.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 90% 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. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 91
- Accountability: 99
- Sustainability: 67
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.5%; rating input score 78
- Program expense ratio: 70.7%; rating input score 71
- Fundraising efficiency: $10.55 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- 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: 97.5%; rating input score 98; 31st 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: 9.4%; rating input score 66; 66th percentile among comparable filings
- Total-asset coverage ratio: 8.15; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.28; rating input score 49; 49th percentile among comparable filings
- Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: -1.6% per year; rating input score 0; 7th percentile among comparable filings
- Revenue growth: 0.7% per year; rating input score 100; 11th percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 25th percentile among comparable filings
Details
- Where the money goes: 77.5% of revenue deployed · 70.7% of spending went to programs
- Governance: 39 of 40 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $11.4M in reported program spending
- Leadership: top reported pay $480K · 45 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.7M reported
- Consistency: 39 of 39 current checks pass
- Schedules: 11 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 6 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 49/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.