Park Avenue Armory
Legal name: Seventh Regiment Armory Conservancy Inc
Nonprofit profile at a glance
- EIN
- 134086800
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- New York, NY, USA
- Phone
- (212) 616-3930
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Historical Societies, Related Historical Activities
Reported finances
- Revenue
- $28,748,363
- Expenses
- $33,427,478
- Assets
- $268,295,225
- Liabilities
- $4,262,518
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
38 people listed
Executive titles in this filing
- REBECCA ROBERTSON (PRESIDENT/DIRECTOR)
- DAVID FOX (Vice President)
- PABLO LEGORRETA (Vice President)
- EMANUEL STERN (Vice President, Treasurer)
Highest reported compensation
- REBECCA ROBERTSON (PRESIDENT/DIRECTOR): $662,610 total reported compensation
- MICHAEL LONERGAN (CHIEF ARTISTIC PRODUCER): $337,235 total reported compensation
- PAUL KING (DIRECTOR OF PRODUCTION): $312,844 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Park Avenue Armory supports unconventional works in the visual and performing arts that cannot be mounted in traditional performance halls.
What it reported doing in 2024
See schedule o.
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 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 54
- Accountability: 93
- Sustainability: 43
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 84.5%; rating input score 85
- Fundraising efficiency: $4.27 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 96.4%; rating input score 96; 30th 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: -16.3%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 8.03; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 9.1%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings
- Revenue growth: -0.7% per year; rating input score 0; 7th percentile among comparable filings
- Asset growth: 6.3% per year; rating input score 100; 44th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 100% of revenue deployed · 84.5% of spending went to programs
- Governance: 27 of 28 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $28.3M in reported program spending
- Leadership: top reported pay $663K · 38 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.9M reported
- Consistency: 35 of 35 current checks pass
- Schedules: 8 filed schedules · includes major donors, foreign activity, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 11 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.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 17/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 24/100.