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Nonprofiteer
← ACADEMY OF AMERICAN POETS INCORPORATED

Form 990 for tax year 2022

Filed by ACADEMY OF AMERICAN POETS INCORPORATED.

Totals

Total revenue
$2,416,014
Total expenses
$5,341,067
Contributions and grants received
$2,360,462
Grants paid
$2,547,500
Program service revenue
$210,842
Investment income
-$177,948
Other revenue
$22,658
Total assets, end of year
$13,544,286
Total liabilities, end of year
$2,308,800
Net assets or fund balances, end of year
$11,235,486
Program services expenses (Part IX)
$4,557,300
Management and general expenses
$449,144
Fundraising expenses
$334,623
Program service expenses (Part III)
$4,557,300

Program services were 85.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $581,776

  • 1c · Fundraising events

    $136,726

  • 1e · Government grants (contributions)

    $143,680

  • 1f · All other contributions, gifts and grants

    $1,498,280

  • 2a · Program service revenue: PUBLICATION & WEBSITE

    total $95,666 · related or exempt $95,666

  • 2b · Program service revenue: PROGRAM FEES

    total $68,320 · related or exempt $68,320

  • 2c · Program service revenue: EVENT ADMISSIONS

    total $46,856 · related or exempt $46,856

  • 3 · Investment income

    total $249,035 · excluded $249,035

  • 5 · Royalties

    total $11,030 · excluded $11,030

  • 7a · Gross sales of assets other than inventory

    securities $4,360,009

  • 7b · Less cost or other basis and sales expenses

    securities $4,786,992

  • 7c · Gain or loss

    securities -$426,983

  • 7d · Net gain or loss

    total -$426,983 · excluded -$426,983

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $136,726

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $11,628

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $11,628 · related or exempt $11,628

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $711,080 · program services $711,080

  • 2 · Grants to domestic individuals

    total $1,836,420 · program services $1,836,420

  • 5 · Compensation of officers, directors and key employees

    total $290,589 · program services $176,523 · management and general $73,055 · fundraising $41,011

  • 7 · Other salaries and wages

    total $835,628 · program services $775,737 · management and general $14,318 · fundraising $45,573

  • 8 · Pension plan contributions

    total $39,677 · program services $33,549 · management and general $3,078 · fundraising $3,050

  • 9 · Other employee benefits

    total $115,876 · program services $97,977 · management and general $8,990 · fundraising $8,909

  • 10 · Payroll taxes

    total $81,401 · program services $68,828 · management and general $6,315 · fundraising $6,258

  • 11b · Fees: legal

    total $3,312 · management and general $3,312

  • 11c · Fees: accounting

    total $87,873 · management and general $87,873

  • 11g · Fees: other

    total $362,576 · program services $260,870 · fundraising $101,706

  • 12 · Advertising and promotion

    total $142,795 · program services $31,456 · management and general $109,337 · fundraising $2,002

  • 13 · Office expenses

    total $284,464 · program services $93,499 · management and general $98,014 · fundraising $92,951

  • 16 · Occupancy

    total $212,275 · program services $179,487 · management and general $16,468 · fundraising $16,320

  • 17 · Travel

    total $57,672 · program services $54,651 · management and general $958 · fundraising $2,063

  • 19 · Conferences, conventions and meetings

    total $16,237 · program services $4,479 · management and general $4,140 · fundraising $7,618

  • 22 · Depreciation, depletion and amortization

    total $28,407 · program services $28,407

  • 24a · Other expenses: PROGRAM DEVELOPMENT

    total $118,295 · program services $118,295

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $53,673 · program services $45,382 · management and general $4,164 · fundraising $4,127

  • 24c · Other expenses: TECHNICAL PRODUCTION

    total $48,412 · program services $31,030 · management and general $17,382

  • 24d · Other expenses: BOOK PURCHASES

    total $12,633 · program services $9,381 · management and general $1,160 · fundraising $2,092

  • 24e · All other expenses

    total $1,772 · program services $249 · management and general $580 · fundraising $943

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $317,686 · end of year $144,899

  • 2 · Savings and temporary cash investments

    beginning of year $370,038 · end of year $5,861

  • 3 · Pledges and grants receivable

    beginning of year $414,470 · end of year $221,335

  • 4 · Accounts receivable

    beginning of year $121,836 · end of year $140,134

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,519 · end of year $24,383

  • 10a · Land, buildings and equipment: cost or other basis

    $234,686

  • 10b · Land, buildings and equipment: accumulated depreciation

    $207,030

  • 10c · Land, buildings and equipment, net

    beginning of year $54,394 · end of year $27,656

  • 11 · Investments: publicly traded securities

    beginning of year $13,238,645 · end of year $11,541,123

  • 15 · Other assets

    beginning of year $52,618 · end of year $1,438,895

  • 17 · Accounts payable and accrued expenses

    beginning of year $184,268 · end of year $268,363

  • 18 · Grants payable

    beginning of year $1,239,800 · end of year $510,000

  • 25 · Other liabilities

    beginning of year $134,923 · end of year $1,530,437

  • 27 · Net assets without donor restrictions

    beginning of year $1,257,194 · end of year $584,634

  • 28 · Net assets with donor restrictions

    beginning of year $11,761,021 · end of year $10,650,852

Mission and programs · 2022

Mission

TO ENCOURAGE, STIMULATE, AND FOSTER THE PRODUCTION OF AMERICAN POETRY BY PROVIDING FELLOWSHIPS FOR POETS OF PROVEN MERIT, BY GRANTING SCHOLARSHIPS, AWARDS AND PRIZES FOR POETIC ACHIEVEMENT, AND BY OTHER SUCH MEANS AS THE BOARD OF DIRECTORS MAY DEVISE AND DETERMINE.

Activities or mission (Part I)

THE ACADEMY SUPPORTS POETS THROUGH FELLOWSHIPS AND PRIZES AND PROMOTES POETRY.

  • AWARDS AND GRANTS - THE ACADEMY ADMINISTERED AND AWARDED MORE THAN $2.5M IN POETRY AWARDS AND PRIZES INCLUDING: POETS LAUREATE FELLOWSHIPS, LETRAS BORICUAS FELLOWSHIP, AMAZON LITERARY PARTNERSHIPS, THE WALLACE STEVENS AWARD, THE ACADEMY FELLOWSHIP, THE LENORE MARSHALL PRIZE, THE JAMES LAUGHLIN AWARD, THE WALT WHITMAN AWARD, THE RAIZISS/ DE PALCHI TRANSLATION AWARD (ITALIAN TRANSLATION AWARD), THE HAROLD MORTON LANDON TRANSLATION AWARD, THE AMERICAN POETS EMERGENCY FUND, TREEHOUSE CLIMATE ACTION POETRY PRIZE, AS WELL AS STUDENT PRIZES AT HUNDREDS OF COLLEGES AND UNIVERSITIES NATIONWIDE.POETRY COALITION - THE ACADEMY SERVED AS THE COORDINATOR AND FISCAL ADMINISTRATOR OF A POETRY COALITION, AN INTENTIONALLY INCLUSIVE ALLIANCE OF THIRTY ORGANIZATIONS, ALMOST ALL OF WHICH ARE LED BY WORKING, PUBLISHED POETS WHO ARE ALSO ARTS ADMINISTRATORS. EACH OF THESE ORGANIZATIONS HAVE PAID STAFF WHO ARE PUBLISHED POETS AND A PRIMARY MISSION TO PROMOTE POETS AND POETRY AND ARE MULTI-GENRE LITERARY ORGANIZATIONS THAT SERVE POETS AND READERS OF SPECIFIC RACIAL, ETHNIC OR GENDER IDENTITIES AND COMMUNITIES, INCLUDING ASIAN AMERICAN, AFRICAN ANERICAM, LATINX, AND LGBTQ, AS WELL AS YOUTH, ACROSS THE UNITED STATES.

    Expenses $3,139,841 · Grants $2,547,500

  • WEBSITE - LAUNCHED IN 1996, POETS.ORG IS THE AWARD-WINNING WEBSITE OF THE ACADEMY OF AMERICAN POETS. VISITORS TO POETS.ORG WILL FIND THOUSANDS OF POEMS AS WELL AS HUNDREDS OF POETS' BIOGRAPHIES, ESSAYS, INTERVIEWS, AND POETRY RECORDINGS WITH THE CONSTANT ADDITION OF NEW MATERIALS. IN ADDITION, RESOURCES SUCH AS A NATIONAL EVENTS CALENDAR, AND DEVELOPMENT OF POETRY LESSON PLANS FOR TEACHERS ARE AVAILABLE. POETS.ORG RECEIVES MORE THAN FIVE MILLION VISITS EACH MONTH, MAKING IT ONE OF THE MOST POPULAR POETRY SITES ON THE WEB.

    Expenses $475,201 · Revenue $107,294

  • THE AMERICAN POETS MAGAZINE THE AMERICAN POETS MAGAZINE (AMPO) LAUNCHED IN 1996 AND PUBLISHED TWICE ANNUALLY IN APRIL AND OCTOBER, EXCLUSIVELY FOR THE MEMBERS OF THE ACADEMY OF AMERICAN POETS. THIS MAGAZINE REACHES DEVOTED READERS AND WRITERS OF POETRY AND LITERATURE, STUDENTS OF POETRY, SOME OF THE MOST RENOWNED AND RESPECTED POETS OF OUR TIME AND SOME OF THE NATION'S MOST GENEROUS PATRONS OF POETRY.

    Expenses $184,037 · Revenue $115,176

  • POETRY FORUM, POETRY COALITION, EDUCATION, NATIONAL POETRY MONTH, READING SERIES, PROGRAM MEMBERSHIP, AND CHANCELLORS FUND.

    Expenses $758,221

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JENNIFER BENKA

    PRESIDENT/EXECUTIVE DIRECTOR

    Total calculated
    $208,603
    From this org
    $206,518
    From related orgs
    $0
    Other
    $2,085
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $191,380
    Bonus
    $15,000
    Other
    $138
    Deferred
    $0
    Nontaxable benefits
    $2,085
    Filer's total
    $208,603

  • LEONARD EJIOGU

    VP OF FINANCE & ADMINISTRATION

    Total calculated
    $139,119
    From this org
    $136,399
    From related orgs
    $0
    Other
    $2,720
    Hours/week
    35

  • JEFFERY GLEAVES

    CONTENT DIRECTOR

    Total calculated
    $111,997
    From this org
    $111,733
    From related orgs
    $0
    Other
    $264
    Hours/week
    35

  • TESS O'DWYER

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • ALEXANDRA C JACKSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ANDREW SCHIFF

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • FREDERICK LUIS ALDAMA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LARRY BERGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SIDNEY CLIFTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TRACIE C HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL JACOBS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANJALI KHOSLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CAMILLE LANNAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALBERT LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL J NADLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUNO NAVASKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC RAYMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GERALD RICHARDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELDA ROTOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH SOBOL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROSE STYRON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MAURICE TEMPELSMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM D ZABEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349308125

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