Form 990 for tax year 2022

Filed by AMERICAN ACADEMY OF ACHIEVEMENT.

Totals

Total revenue: $3,559,156
Total expenses: $3,745,011
Contributions and grants received: $3,475,866
Grants paid: $0
Program service revenue: $0
Investment income: $3,344
Other revenue: $79,946
Total assets, end of year: $4,879,449
Total liabilities, end of year: $2,294,572
Net assets or fund balances, end of year: $2,584,877
Program services expenses (Part IX): $3,447,621
Management and general expenses: $156,646
Fundraising expenses: $140,744
Program service expenses (Part III): $3,447,621

Program services were 92.1% 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.

1f · All other contributions, gifts and grants

$3,475,866
3 · Investment income

total $3,344 · related or exempt $3,344
6a · Gross rents

real property $79,946
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $79,946
6d · Net rental income or loss

total $79,946 · related or exempt $79,946

Functional expenses

Part IX, the statement of functional expenses.

8 · Pension plan contributions

total $86,890 · program services $69,512 · management and general $8,689 · fundraising $8,689
11a · Fees: management

total $827,527 · program services $708,275 · management and general $64,690 · fundraising $54,562
11b · Fees: legal

total $27,989 · program services $23,956 · management and general $2,188 · fundraising $1,845
11c · Fees: accounting

total $29,031 · program services $24,847 · management and general $2,270 · fundraising $1,914
11g · Fees: other

total $414,669 · program services $354,912 · management and general $32,416 · fundraising $27,341
13 · Office expenses

total $32,568 · program services $28,778 · management and general $1,895 · fundraising $1,895
14 · Information technology

total $53,002 · program services $48,724 · management and general $2,139 · fundraising $2,139
16 · Occupancy

total $32,031 · program services $26,273 · management and general $2,879 · fundraising $2,879
17 · Travel

total $1,702,337 · program services $1,667,147 · management and general $17,595 · fundraising $17,595
22 · Depreciation, depletion and amortization

total $289,063 · program services $275,011 · management and general $7,026 · fundraising $7,026
23 · Insurance

total $22,034 · program services $17,628 · management and general $2,203 · fundraising $2,203
24a · Other expenses: AWARD COUNCIL DEVELOPME

total $84,021 · program services $77,239 · management and general $3,391 · fundraising $3,391
24b · Other expenses: OTHER EXPENSES

total $79,502 · program services $73,084 · management and general $3,209 · fundraising $3,209
24c · Other expenses: REPAIRS AND MAINTENANCE

total $69,842 · program services $57,288 · management and general $6,277 · fundraising $6,277
24d · Other expenses: CONTRACT LABOR

total $3,681 · program services $3,383 · management and general $149 · fundraising $149
24e · All other expenses

total -$9,176 · program services -$8,436 · management and general -$370 · fundraising -$370

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $163,471 · end of year $240,761
4 · Accounts receivable

beginning of year $189 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $61,549 · end of year $43,068
10a · Land, buildings and equipment: cost or other basis

$5,757,599
10b · Land, buildings and equipment: accumulated depreciation

$3,480,561
10c · Land, buildings and equipment, net

beginning of year $2,347,296 · end of year $2,277,038
11 · Investments: publicly traded securities

beginning of year $1,828,487 · end of year $2,040,486
15 · Other assets

beginning of year $441,837 · end of year $278,096
17 · Accounts payable and accrued expenses

beginning of year $2,060,416 · end of year $2,292,072
19 · Deferred revenue

beginning of year $2,500 · end of year $2,500
27 · Net assets without donor restrictions

beginning of year $1,796,690 · end of year $1,601,654
28 · Net assets with donor restrictions

beginning of year $983,223 · end of year $983,223

Mission and programs · 2022

Mission

TO BRING YOUNG LEADERS FACE-TO-FACE WITH THE EXTRAORDINARY VISIONARIES AND PIONEERS WHO HAVE HELPED SHAPE OUR WORLD.

Activities or mission (Part I)

TO INSPIRE YOUTH WITH NEW DREAMS OF ACHIEVEMENT IN A WORLD OF BOUNDLESS OPPORTUNITY. CONT'D ON SCH O. TO SERVE THIS PURPOSE, THE ACADEMY PRESENTS THE LIFE STORIES AND ACCOMPLISHMENTS OF EMINENT INTERNATIONAL ACHIEVERS WITH THE GOAL THAT TODAY'S YOUTH WILL ALSO SEEK EXCELLENCE IN, AND MAKE A CONTRIBUTION TO, THEIR CHOSEN FIELD OF ENDEAVOR AND THE WORLD AS A WHOLE.

AMONG THE ACADEMY'S MANY EDUCATION INITIATIVES, A PRINCIPAL ACTIVITY HAS HISTORICALLY BEEN THE COORDINATION AND STAGING OF AN ACHIEVEMENT SUMMIT (THE "SUMMIT") WHICH HONORS OUTSTANDING ACHIEVERS IN BUSINESS, PUBLIC SERVICE, LITERATURE, SCIENCE, EXPLORATION, SPORTS, AND THE ARTS, AND PROVIDES A FORUM FOR THESE INDIVIDUAL ACHIEVERS TO INTERACT WITH OUTSTANDING COLLEGE AND GRADUATE STUDENTS AND PROMISING YOUNG ENTREPRENEURS BROUGHT TOGETHER FROM AROUND THE WORLD AS GUESTS OF THE ACADEMY. DURING THE MULTI-DAY SUMMIT, THESE EXTRAORDINARY YOUNG SCHOLARS HAVE JOINED EMINENT CONTEMPORARY LEADERS FOR MEANINGFUL DIALOGUE AND A SERIES OF SYMPOSIA AND ROUNDTABLE DISCUSSIONS ON ISSUES OF THE DAY. THE SUMMIT HAS BEEN PROVIDED AT NO COST TO THE DELEGATES. ADDITIONAL ACTIVITIES OF THE ACADEMY INCLUDE BRINGING LEADERS FROM VARIOUS FIELDS TOGETHER THROUGHOUT THE YEAR, HOLDING SPECIAL EVENTS TO HONOR ACADEMY INDUCTEES, AS WELL AS PROMOTING THE PRINCIPLES OF EXCELLENCE AND LEADERSHIP.

Expenses $2,905,016
DURING FISCAL YEARS ENDING JULY 31, 2023 AND 2022, THE ACADEMY CONTINUED TO EXPAND ITS ONLINE INTERNET PRESENCE VIA THEIR WEBSITE, WWW.ACHIEVEMENT.ORG. THE ACADEMY'S REDESIGNED WEBSITE, WHICH IS COMPATIBLE WITH MOBILE DEVICES, IS A VIRTUAL MUSEUM THAT FEATURES A GALLERY OF ACHIEVEMENT WITH EXCLUSIVE VIDEO INTERVIEWS OF MANY ACADEMY MEMBERS, A CURRICULUM CENTER FOR TEACHERS AND STUDENTS, AND A LIBRARY THAT HIGHLIGHTS BOOKS THAT CHANGED THE LIVES OF ACADEMY MEMBERS. THE WEBSITE ALLOWS THE ACADEMY TO REACH MILLIONS OF STUDENTS AND EDUCATORS EACH YEAR WITH THEIR EXPANSIVE LIBRARY OF LIVING HISTORY PRESENTED THROUGH MULTIMEDIA CONTENT.ANOTHER SIGNIFICANT ACTIVITY OF THE ACADEMY IS TO PROVIDE EDUCATIONAL CONTENT ON APPLE PODCASTS. THIS APPLICATION GIVES STUDENTS ACCESS TO THE WORLD'S LARGEST DIGITAL CATALOG OF FREE EDUCATIONAL CONTENT. THE ACADEMY BEGAN PROVIDING MULTIMEDIA CONTENT FROM ITS DIGITAL LIBRARY IN NOVEMBER 2010. DURING THE FISCAL YEAR 2016, THE ACADEMY LAUNCHED A PODCAST SERIES IN CONJUNCTION WITH APPLE PODCASTS ENTITLED "WHAT IT TAKES". THE PODCAST FEATURES EXCLUSIVE INTERVIEWS WITH ACADEMY MEMBERS AND THEIR PERSONAL PATHS TO SUCCESS HIGHLIGHTING THE ATTRIBUTES THEY REQUIRED TO REACH THEIR GREAT ACHIEVEMENTS, SUCH AS PASSION, COURAGE AND PERSEVERANCE. THE ACADEMY MEMBERS FEATURED ON THE PODCAST INCLUDE GEORGE LUCAS, OPRAH WINFREY, ARCHBISHOP DESMOND TUTU, JUSTICE RUTH BADER GINSBURG, JOHNNY CASH, CORETTA SCOTT KING, AND JAMES MICHENER. SINCE INCEPTION, THE "WHAT IT TAKES" PODCAST, HAS RECEIVED MILLIONS OF DOWNLOADS ON APPLE PODCASTS.THE ACADEMY HAS ALSO PUBLISHED THREE EBOOKS (OR ELECTRONIC TEXTBOOKS) ON APPLE BOOKS, COVERING THE TOPICS OF CIVIL RIGHTS, CREATIVE WRITING, AND SOCIAL ADVOCACY ON THE ITUNES U SITE. THESE EBOOKS FEATURE VIDEO INTERVIEWS OF DISTINGUISHED ACADEMY MEMBERS AND HAVE BEEN DOWNLOADED BY MORE THAN 100,000 STUDENTS AND TEACHERS DURING FISCAL YEARS 2023 AND 2022.THE ACADEMY ALSO MAINTAINS A MULTIMEDIA MUSEUM EXHIBIT, AT ITS WASHINGTON, D.C. OFFICE, FEATURING THE LIFE STORIES OF ACADEMY MEMBERS AND THEIR PERSONAL PATHS TO EXCELLENCE.

Expenses $520,367
DURING FISCAL YEAR 2017, THE ACADEMY BEGAN A PARTNERSHIP TO DEVELOP THE GLOBAL FORUM FOR FREEDOM AND JUSTICE WHICH WILL BE AN ANCHOR INSTITUTION AT THE BIRTHPLACE OF THE AMERICAN CIVIL RIGHTS MOVEMENT, THAT LEVERAGES THE HISTORIC LEGACIES OF ITS GROUNDBREAKING CIVIL RIGHTS PIONEERS AS A GLOBAL FORUM TO INSPIRE, ADVANCE AND TEACH LEADERSHIP SKILLS IN THE 21ST CENTURY. THE FORUM IS AN INTERDISCIPLINARY CENTER OF SCHOLARSHIP, LEARNING, RESEARCH, AND PUBLIC ENGAGEMENT, OFFERING A WIDE COLLECTION OF DIGITAL ARCHIVES, RECORDINGS, AND A RESEARCH LIBRARY. THE MODERN CIVIL RIGHTS STRUGGLE IS A CRUCIBLE TOWARDS BETTER UNDERSTANDING COMPLEX CONTEMPORARY SOCIAL ISSUES. THE FORUM ENCOURAGES A MORE MEANINGFUL EXPLORATION INTO THESE HEROIC ROLE MODELS, AND, AS A RESULT, PROVIDE INSIGHTS THAT WILL INSPIRE AND EDUCATE FUTURE GENERATIONS OF LEADERS.

Expenses $22,238

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

Listed in Part VII

Wayne ReynoldsWAYNE REYNOLDS

PRESIDENT/CHAIRMAN

Total calculated

$983,505

From this org

$0

From related orgs

$865,430

Other

$118,075

Hours/week

50

Schedule J breakdown matched by us

Base

$0 + $496,516 related

Bonus

$0 + $368,914 related

Other

$0

Deferred

$0 + $86,890 related

Nontaxable benefits

$0 + $31,185 related

Filer's total

$0 + $983,505 related
Catherine ReynoldsCATHERINE REYNOLDS

VICE-CHAIRMAN

Total calculated

$0

Hours/week

1
Robert S LangerROBERT S LANGER

DIRECTOR

Total calculated

$0

Hours/week

1
General Joseph W RalstonGENERAL JOSEPH W RALSTON

DIRECTOR

Total calculated

$0

Hours/week

1
Dr Steven RosenbergDR STEVEN ROSENBERG

DIRECTOR

Total calculated

$0

Hours/week

1
Rick AtkinsonRICK ATKINSON

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

1a · First-class or charter travel
1a · Travel for companions
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Independent compensation consultant
3 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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

The filer's explanations (Part III)

PART I, LINE 1A: MR. REYNOLDS RECEIVES COMPENSATION FOR SERVICES HE PERFORMS FOR THE ACADEMY. HIS ANNUAL COMPENSATION VARIES ANNUALLY DEPENDING ON THE ANNUAL FEE THAT ASC MANAGEMENT CO. RECEIVES UNDER ITS CONTRACT WITH THE ACADEMY (ENTERED INTO IN 1977 BY INDEPENDENT BOARD MEMBERS) AND THE NATURE AND TYPE OF SERVICES HE PROVIDES TO THE CORPORATION. THE COMPENSATION AMOUNT IS VOTED ON AND APPROVED ANNUALLY BY INDEPENDENT MEMBERS OF THE ACADEMY'S BOARD OF DIRECTORS. ADDITIONALLY, THE INDEPENDENT MEMBERS UTILIZE THE EXPERTISE OF AN INDEPENDENT COMPENSATION EXPERT. CONSISTENT WITH THE ACADEMY'S REIMBURSEMENT POLICY, FIRST CLASS TRAVEL IS PROVIDED FOR BOARD MEMBERS AND THEIR COMPANIONS THAT ATTEND THE ACADEMY'S SUMMIT. BOARD MEMBERS PARTICIPATE AS SPEAKERS AND PANELISTS IN SESSIONS WITH THE DELEGATES AND ARE AN INTEGRAL PART OF THE ACHIEVEMENT SUMMIT.
PART I, LINE 4B: THE ACADEMY MAKES CONTRIBUTIONS TO A RESTRICTED INVESTMENT ACCOUNT PURSUANT TO DEFERRED COMPENSATION AGREEMENT WITH ASC MANAGEMENT FOR THE SERVICES PROVIDED BY WAYNE REYNOLDS. FOR THE FISCAL YEAR ENDING JULY 31, 2023, THE CONTRIBUTION AMOUNT WAS $20,890.

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: 10 June 2024
IRS schema version: 2022v5.0
Source object: 202441639349300844

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