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Nonprofiteer
← THE ARMORY FOUNDATION

Form 990 for tax year 2022

Filed by THE ARMORY FOUNDATION.

What the amendment changed

Compared with the return it replaced , filed 15 May 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$8,712,260 changed to $7,765,283
Total expenses
$8,766,987 changed to $8,191,894
Contributions and grants received
$4,603,090 changed to $3,809,444
Program service revenue
$4,074,055 changed to $3,522,693
Other revenue
-$6,374 changed to $391,657
Total assets, end of year
$10,550,500 changed to $9,551,686
Total liabilities, end of year
$483,229 changed to $559,757
Net assets or fund balances, end of year
$10,067,271 changed to $8,991,929
Program services expenses
$7,837,185 changed to $7,619,961
Management and general expenses
$767,353 changed to $343,746
Fundraising expenses
$162,449 changed to $228,187
Program service expenses (Part III)
$7,837,185 changed to $7,619,961

Totals

Total revenue
$7,765,283
Total expenses
$8,191,894
Contributions and grants received
$3,809,444
Grants paid
$0
Program service revenue
$3,522,693
Investment income
$41,489
Other revenue
$391,657
Total assets, end of year
$9,551,686
Total liabilities, end of year
$559,757
Net assets or fund balances, end of year
$8,991,929
Program services expenses (Part IX)
$7,619,961
Management and general expenses
$343,746
Fundraising expenses
$228,187
Program service expenses (Part III)
$7,619,961

Program services were 93.0% 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.

  • 1c · Fundraising events

    $134,640

  • 1e · Government grants (contributions)

    $141,637

  • 1f · All other contributions, gifts and grants

    $3,533,167

  • 2a · Program service revenue: TRACK MEETS AND EVENTS

    total $1,595,599 · related or exempt $1,595,599

  • 2b · Program service revenue: VENUE RENTALS

    total $853,372 · related or exempt $853,372

  • 2c · Program service revenue: ADMISSIONS

    total $1,073,722 · related or exempt $1,073,722

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $20,103 · excluded $20,103

  • 6a · Gross rents

    real property $609,556

  • 6b · Less rental expenses

    real property $262,946

  • 6c · Rental income or loss

    real property $346,610 · personal property $0

  • 6d · Net rental income or loss

    total $346,610 · unrelated business $64,270 · excluded $282,340

  • 7a · Gross sales of assets other than inventory

    securities $1,090,302

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

    securities $1,068,916

  • 7c · Gain or loss

    securities $21,386 · other assets $0

  • 7d · Net gain or loss

    total $21,386 · excluded $21,386

  • 8a · Fundraising events: gross income

    $4,300

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

    $134,640

  • 8b · Fundraising events: direct expenses

    $34,350

  • 8c · Net income from fundraising events

    total -$30,050 · excluded -$30,050

  • 11a · Other revenue: MISCELLANEOUS

    total $71,992 · excluded $71,992

  • 11b · Other revenue: ADVERTISING

    total $3,105 · unrelated business $3,105

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $75,097

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $944,666 · program services $755,732 · management and general $94,467 · fundraising $94,467

  • 7 · Other salaries and wages

    total $2,524,658 · program services $2,488,172 · management and general $29,684 · fundraising $6,802

  • 8 · Pension plan contributions

    total $14,962 · program services $13,917 · management and general $868 · fundraising $177

  • 9 · Other employee benefits

    total $294,124 · program services $275,541 · management and general $16,999 · fundraising $1,584

  • 10 · Payroll taxes

    total $326,191 · program services $295,820 · management and general $21,562 · fundraising $8,809

  • 11b · Fees: legal

    total $52,500 · program services $26,250 · management and general $26,250

  • 11c · Fees: accounting

    total $1,162 · management and general $1,162

  • 11g · Fees: other

    total $850,222 · program services $811,098 · management and general $23,774 · fundraising $15,350

  • 12 · Advertising and promotion

    total $75,117 · program services $75,117

  • 13 · Office expenses

    total $1,497,426 · program services $1,364,260 · management and general $56,669 · fundraising $76,497

  • 14 · Information technology

    total $70,358 · program services $54,351 · management and general $15,434 · fundraising $573

  • 17 · Travel

    total $210,855 · program services $209,125 · management and general $1,730

  • 22 · Depreciation, depletion and amortization

    total $831,705 · program services $783,350 · management and general $27,200 · fundraising $21,155

  • 23 · Insurance

    total $69,695 · program services $68,167 · fundraising $1,528

  • 24a · Other expenses: EDUCATIONAL/TUTORING FEES

    total $285,289 · program services $285,289

  • 24b · Other expenses: MISCELLANEOUS

    total $142,964 · program services $113,772 · management and general $27,947 · fundraising $1,245

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $490,937 · end of year $1,625,829

  • 3 · Pledges and grants receivable

    beginning of year $1,623,160 · end of year $146,637

  • 4 · Accounts receivable

    beginning of year $379,509 · end of year $262,719

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,276 · end of year $161,914

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

    $23,400,705

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

    $16,896,881

  • 10c · Land, buildings and equipment, net

    beginning of year $6,435,247 · end of year $6,503,824

  • 11 · Investments: publicly traded securities

    beginning of year $1,840,046 · end of year $850,763

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $821,670 · end of year $453,388

  • 19 · Deferred revenue

    beginning of year $102,560 · end of year $106,369

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $9,582,940 · end of year $8,729,047

  • 28 · Net assets with donor restrictions

    beginning of year $289,005 · end of year $262,882

Mission and programs · 2022

Mission

THE ARMORY FOUNDATION, A NYC NOT-FOR PROFIT AND HOME TO THE PREMIER INDOOR TRACK AND FIELD CENTER IN AMERICA, IS COMMITTED TO SERVING YOUTH BY PROMOTING EXCELLENCE AND FITNESS THROUGH A BROAD RANGE OF ATHLETIC, EDUCATIONAL AND COMMUNITY PROGRAMS. THE ARMORY FOUNDATION'S PRIMARY EMPHASIS IS REACHING AND MOTIVATING THE YOUTH OF ALL FIVE BOROUGHS OF NEW YORK CITY BY OFFERING THEM COMPETITIVE TRACK AND FIELD ACTIVITIES AND BROADENING THEIR HORIZONS WITH COMPUTER CLASSES, COLLEGE PREPARATION PROGRAMS AND A VARIETY OF CULTURAL AND SCHOOL COORDINATED EDUCATIONAL ACTIVITIES. THE ARMORY FOUNDATION HOSTS OVER 100 TRACK EVENTS EACH YEAR, MAINTAINS THE NATIONAL TRACK AND FIELD HALL OF FAME, OPERATES THE LARGEST AFTER SCHOOL ACTIVITY CENTER IN NEW YORK AND OFFERS A VARIETY OF COMMUNITY SUPPORT PROGRAMS IN ITS WORLD CLASS FACILITY.

Activities or mission (Part I)

THE ARMORY FOUNDATION IS DEDICATED TO SERVING YOUTH BY PROMOTING FITNESS AND EDUCATION THROUGH A BROAD RANGE OF ATHLETIC, EDUCATIONAL AND COMMUNITY PROGRAMS.

  • TRACK AND FIELD MEETS: TYPICALLY, OVER 100 TRACK AND FIELD MEETS ARE HELD EACH YEAR AT THE ARMORY RANGING IN SIZE FROM 100 ATHLETES TO OVER 5,000. THE ARMORY TRACK IS CONSIDERED TO BE THE FASTEST TRACK IN THE WORLD AND ATTRACTS ATHLETES AND SPECTATORS FROM ALL OVER THE UNITED STATES. TRACK PRACTICES: IN A NORMAL YEAR, THE ARMORY HOSTS 220 TRACK PRACTICE SESSIONS EACH SEASON ATTRACTING APPROXIMATELY 50,000 VISITS OF MOSTLY YOUNG ATHLETES. THE TRACK SEASON RUNS FROM OCTOBER THROUGH THE MIDDLE OF APRIL. THE OBJECTIVE IS TO FULFILL THE MISSION OF THE ARMORY OF KEEPING KIDS ON TRACK. TRACK AND FIELD ACTIVITIES RETURNED TO NORMAL LEVELS AFTER TWO YEARS THAT WERE IMPACTED BY COVID.

    Expenses $4,335,788 · Revenue $1,595,599

  • HIGH SCHOOL TRAINING: UP TO 2,000 NEW YORK CITY STUDENTS TRAIN AT THE ARMORY, TUESDAYS AND THURSDAYS FROM NOVEMBER TO APRIL ON THE FABLED ARMORY TRACK. TRAINING INCLUDES A SUPPLEMENTAL COACHING STAFF PAID BY THE ARMORY TO HELP STUDENTS DEVELOP THEIR SKILLS. MOST STUDENTS HAVE COACHES WHO ARE FLUENT IN ONE OF THE EVENTS OF TRACK AND FIELD. FEW ARE EXPERTS IN THROWING, POLEVAULTING, HURDLES OR EVEN RACE-WALKING. IN ORDER TO PROVIDE THE BEST POSSIBLE EXPERIENCE, THE ARMORY BRINGS IN THESE COACHES. YOUTH TRAINING: IN A NORMAL YEAR, AS MANY AS 500 STUDENTS IN GRADES 2-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM TRAIN AT THE ARMORY MONDAYS AND WEDNESDAYS FROM OCTOBER TO MAY ON THE CITY TRACK, LITTLE FEET AND TINY FEET PROGRAMS. A FULL COACHING STAFF IS PROVIDED TO THE CHILDREN TO TEACH THE BASICS OF TRACK AND FIELD AND TO ENSURE THE CHILDREN HAVE PLENTY OF FUN AT THE SAME TIME.

    Expenses $971,206

  • ARMORY COLLEGE PREP HIGH SCHOOL: THIS IS A FOCUSED PROGRAM TARGETING HIGH SCHOOL STUDENTS WHO PRACTICE AT THE ARMORY, MANY OF WHOM WILL BE FIRST GENERATION COLLEGE STUDENTS. ARMORY COLLEGE PREP SUPPLIES RIGOROUS ACADEMIC INSTRUCTION, SAT PREP CLASSES, ONE-ON-ONE COLLEGE COUNSELING, INCLUDING FINANCIAL AID AND NCAA REGULATION INFORMATION AND MULTIPLE TRIPS TO VISIT COLLEGES. IN A TYPICAL YEAR, THIS PROGRAM WORKS WITH OVER 80 STUDENTS EACH YEAR TO COMPLETE HIGH SCHOOL, GAIN ACCEPTANCE TO AND TO SUCCEED AT COLLEGE. DUE TO COVID-19, THE NUMBER OF STUDENTS IN ACP WAS REDUCED BY APROXIMATELY 20%. ARMORY COLLEGE PREP MIDDLE SCHOOL: THIS PROGRAM WORKS WITH STUDENTS IN GRADES 4-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM. THE FOCUS OF THE PROGRAM IS TO ENGAGE THE STUDENTS IN MATH, READING AND ROBOTICS, ENCOURAGE GOOD STUDY HABITS AND PROVIDE GUIDANCE ON HIGH SCHOOL CHOICE FOR CHILDREN AND THEIR FAMILIES. THE ARMORY HAS EXPERIENCED STEADY ENROLLMENT OF APPROXIMATELY 60 STUDENTS.

    Expenses $922,859 · Revenue $1,073,722

  • ARMORY COLLEGE PREP MIDDLE SCHOOL

    Expenses $504,377

  • YOUTH TRAINING

    Expenses $247,398

  • OTHER

    Expenses $230,958 · Revenue $853,372

  • SUNY ATTAIN LAB/COMMUNITY PARTNERS

    Expenses $199,090

  • COMMUNITY RELATIONS

    Expenses $108,660

  • HALL OF FAME

    Expenses $99,625

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

Listed in Part VII

  • Edward Stern

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Michael Blum

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Michael Frankfurt

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Sandra Harris

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Andrew Hogue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chris Bilsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gerry Byrne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jacqueline Valouch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jane Ott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Jenkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kerri Donner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Stone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maria Luna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Beth Hogan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mary Darling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Yaker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Remysell Salas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Gordon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Esnard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Shahabudd Een Ally

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Labreque

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Wendy Hilliard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Glennis Aquino-Gil

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $163,946
    From this org
    $149,417
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,417
    Bonus
    $0
    Other
    $0
    Deferred
    $1,000
    Nontaxable benefits
    $13,529
    Filer's total
    $163,946

  • Jonathan Schindel

    CO-PRESIDENT

    Total calculated
    $349,163
    From this org
    $309,607
    From related orgs
    $0
    Other
    $39,556
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $309,607
    Bonus
    $0
    Other
    $0
    Deferred
    $1,000
    Nontaxable benefits
    $38,556
    Filer's total
    $349,163

  • Rita Finkel

    CO-PRESIDENT

    Total calculated
    $344,076
    From this org
    $329,547
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $329,547
    Bonus
    $0
    Other
    $0
    Deferred
    $1,000
    Nontaxable benefits
    $13,529
    Filer's total
    $344,076

  • Alberto Aquino

    DIRECTOR OF YOUTH PROGRAMMING

    Total calculated
    $137,796
    From this org
    $123,267
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    40

  • Clayton D Harding

    DIRECTOR OF WRITING INSTITUTE

    Total calculated
    $113,672
    From this org
    $112,672
    From related orgs
    $0
    Other
    $1,000
    Hours/week
    40

  • John Carpenter

    DIRECTOR OF FACILITIES

    Total calculated
    $142,833
    From this org
    $128,304
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    40

  • Kenneth Dwyer

    BUILDING MANAGER

    Total calculated
    $142,158
    From this org
    $127,629
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    40

  • Mary Rose Synek

    DIRECTOR OF INST. WRITING & AR

    Total calculated
    $126,917
    From this org
    $112,388
    From related orgs
    $0
    Other
    $14,529
    Hours/week
    40

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 · Compensation committee
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
26 August 2024
IRS schema version
2022v5.0
Source object
202422399349301517

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