Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $1,432,676

• 1f · All other contributions, gifts and grants

  $9,621,932

• 2a · Program service revenue: CATERING OPERATIONS

  total $751,355 · related or exempt $751,355

• 2b · Program service revenue: ROYALTIES

  total $15,170 · related or exempt $15,170

• 3 · Investment income

  total $1,118,483 · unrelated business $45,675 · excluded $1,072,808

• 7a · Gross sales of assets other than inventory

  securities $33,274,502

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

  securities $28,974,545

• 7c · Gain or loss

  securities $4,299,957

• 7d · Net gain or loss

  total $4,299,957 · excluded $4,299,957

• 11a · Other revenue: MISCELLANEOUS

  total $74,496 · related or exempt $74,496

• 11e · Other revenue, total

  $74,496

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,082,211 · program services $798,674 · management and general $139,604 · fundraising $143,933

• 7 · Other salaries and wages

  total $6,634,558 · program services $3,898,969 · management and general $1,960,630 · fundraising $774,959

• 8 · Pension plan contributions

  total $631,001 · program services $423,019 · management and general $139,092 · fundraising $68,890

• 9 · Other employee benefits

  total $695,100 · program services $469,710 · management and general $148,192 · fundraising $77,198

• 10 · Payroll taxes

  total $441,761 · program services $299,204 · management and general $93,252 · fundraising $49,305

• 11b · Fees: legal

  total $51,309 · management and general $51,309

• 11c · Fees: accounting

  total $81,500 · management and general $81,500

• 11f · Fees: investment management

  total $214,848 · management and general $214,848

• 11g · Fees: other

  total $2,090,424 · program services $1,364,846 · management and general $719,727 · fundraising $5,851

• 13 · Office expenses

  total $2,892,952 · program services $1,834,336 · management and general $721,904 · fundraising $336,712

• 16 · Occupancy

  total $1,026,773 · program services $276,645 · management and general $750,128

• 17 · Travel

  total $713,230 · program services $600,819 · management and general $110,206 · fundraising $2,205

• 19 · Conferences, conventions and meetings

  total $1,027,680 · program services $913,169 · management and general $112,542 · fundraising $1,969

• 20 · Interest

  total $49,492 · management and general $49,492

• 22 · Depreciation, depletion and amortization

  total $902,650 · program services $621,495 · management and general $177,568 · fundraising $103,587

• 23 · Insurance

  total $115,881 · program services $82,766 · management and general $22,260 · fundraising $10,855

• 24a · Other expenses: MISCELLANEOUS

  total $141,344 · program services $93,003 · management and general $48,190 · fundraising $151

• 24b · Other expenses: FEES AND HONORARIA

  total $36,189 · program services $35,320 · management and general $869

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,171,296 · end of year $6,457,627

• 2 · Savings and temporary cash investments

  beginning of year $7,855,213 · end of year $7,270,482

• 3 · Pledges and grants receivable

  beginning of year $13,172,689 · end of year $8,192,450

• 4 · Accounts receivable

  end of year $82,012

• 8 · Inventories for sale or use

  beginning of year $12,172 · end of year $8,154

• 9 · Prepaid expenses and deferred charges

  beginning of year $276,255 · end of year $329,418

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

  $26,513,155

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

  $15,562,019

• 10c · Land, buildings and equipment, net

  beginning of year $11,701,796 · end of year $10,951,136

• 11 · Investments: publicly traded securities

  beginning of year $39,793,191 · end of year $53,383,149

• 12 · Investments: other securities

  beginning of year $30,379,006 · end of year $23,008,729

• 15 · Other assets

  beginning of year $15,268,690 · end of year $15,510,309

• 17 · Accounts payable and accrued expenses

  beginning of year $1,215,792 · end of year $1,638,457

• 23 · Secured mortgages and notes payable

  beginning of year $1,799,423 · end of year $1,598,999

• 27 · Net assets without donor restrictions

  beginning of year $37,233,578 · end of year $36,609,146

• 28 · Net assets with donor restrictions

  beginning of year $82,381,515 · end of year $85,346,864

The filer's explanations (Part III)

PART I, LINE 1A

DURING FISCAL YEAR 2024, THERE WERE TRIP TICKETS PURCHASED THAT WERE EITHER FIRST CLASS OR UPGRADED TO FIRST CLASS FOR THE ACADEMY BOARD MEMBERS. FIRST CLASS TRAVEL IS ALLOWED UNDER THE POLICIES OF THE ACADEMY AND ALL FIRST CLASS TRAVEL FOR FISCAL YEAR 2024 MET THE POLICY GUIDELINES.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• NORTON'S WOODS INC

  C · EVENT SERVICES · MA · 100% owned · share of income $1,085,935 · controlled entity

  Directly controlled by AMERICAN ACADEMY OF ARTS AND SCIENCES

• PERMANENT SCIENCE FUND TR UDECL

  T · TRUST · MA · 100% owned · share of income $120,000 · controlled entity

  Directly controlled by AMERICAN ACADEMY OF ARTS AND SCIENCES