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American Academy Of Art Inc

  • Chicago, IL
  • Tax-exempt since March 2016
  • EIN: 46-3291995

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Education N.E.C. (NTEE)

Donations to this organization are tax deductible.

Details

According to its Dec. 2022 tax filing, this nonprofit:

Operated a school
Organization is a school. Details are reported on Schedule E.

Summary charts: organization finances over time

Revenue
$5.14M (2022)

Expenses
$6.42M (2022)

Total Assets
$27.6M (2022)

Total Liabilities
$27.7M (2022)

Years with multiple filings
Source: Form 990 tax filings from 2014 to 2022

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,141,668
Expenses
$6,424,552
Net Income
-$1,282,884
Net Assets
-$136,443
Notable Sources of Revenue Percent of Total Revenue
Contributions $747,427
14.5%
Program Services $4,111,586
80.0%
Investment Income $1,935
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $3,679
0.1%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $277,041
5.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $226,600
3.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,153,775
33.5%
Assets/Debt
Total Assets $27,565,968
Total Liabilities $27,702,411
Net Assets -$136,443
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Duncan Webb (Academic Dean) $158,100 $0 $0
Ione Fitzgerald (Vice President) $121,200 $0 $0
Richard Otto (President) $100,600 $0 $0
Charles Schroeder Jr (Chairman) $1,200 $0 $0
Dr Patricia Widmayer (Board Member) $1,200 $0 $0
Tom Kube (Board Member) $1,200 $0 $0
Cynthia Reynolds (Board Member) $1,200 $0 $0
+ View more people

Document Links

990
Filed on Nov. 14, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,234,752
Expenses
$6,225,494
Net Income
$9,258
Net Assets
$1,146,441
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,318,125
21.1%
Program Services $4,865,142
78.0%
Investment Income $2,124
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $46,183
0.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,178
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $220,800
3.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,143,787
34.4%
Assets/Debt
Total Assets $17,980,705
Total Liabilities $16,834,264
Net Assets $1,146,441
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Duncan Webb (Academic Dean) $151,100 $0 $0
Ione Fitzgerald (Vice President) $121,800 $0 $0
Richard Otto (President) $91,800 $0 $0
Charles Schroeder Jr (Chairman) $1,800 $0 $0
Dr Patricia Widmayer (Board Member) $1,800 $0 $0
Tom Kube (Board Member) $1,800 $0 $0
Cynthia Reynolds (Board Member) $1,800 $0 $0
+ View more people

Document Links

990
Filed on Nov. 11, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,867,455
Expenses
$6,583,858
Net Income
$283,597
Net Assets
$1,137,183
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,436,946
20.9%
Program Services $5,393,786
78.5%
Investment Income $3,351
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $33,372
0.5%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $260,800
4.0%
Professional Fundraising Fees $0
Other Salaries and Wages $2,254,364
34.2%
Assets/Debt
Total Assets $18,133,191
Total Liabilities $16,996,008
Net Assets $1,137,183
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Duncan Webb (Academic Dean) $151,100 $0 $1,210
Richard Otto (President) $131,800 $0 $0
Ione Fitzgerald (Vice President) $121,800 $0 $0
Charles Schroeder Jr (Chairman) $1,800 $0 $0
Dr Patricia Widmayer (Board Member) $1,800 $0 $0
Tom Kube (Board Member) $1,800 $0 $0
Cynthia Reynolds (Board Member) $1,800 $0 $0
+ View more people

Document Links

990
Filed on Nov. 11, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$7,626,919
Expenses
$7,490,361
Net Income
$136,558
Net Assets
$853,586
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,253,140
16.4%
Program Services $6,360,699
83.4%
Investment Income $4,192
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $5,749
0.1%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,139
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $230,800
3.1%
Professional Fundraising Fees $0
Other Salaries and Wages $2,726,596
36.4%
Assets/Debt
Total Assets $18,265,173
Total Liabilities $17,411,587
Net Assets $853,586
Compensation
Key Employees and Officers Compensation Related Other
Ione Fitzgerald (Vice President) $121,800 $0 $0
Richard Otto (President) $101,800 $0 $0
Charles Schroeder (Chairman) $1,800 $0 $0
Dr Patricia Widmayer (Board Member) $1,800 $0 $0
Tom Kube (Board Member) $1,800 $0 $0
Cynthia Reynolds (Board Member) $1,800 $0 $0
+ View more people

Document Links

990
Filed on Nov. 13, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$7,892,402
Expenses
$7,694,759
Net Income
$197,643
Net Assets
$717,028
Notable Sources of Revenue Percent of Total Revenue
Contributions $970,000
12.3%
Program Services $6,939,908
87.9%
Investment Income $3,630
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income -$21,136
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $242,937
3.2%
Professional Fundraising Fees $0
Other Salaries and Wages $2,774,172
36.1%
Assets/Debt
Total Assets $18,071,562
Total Liabilities $17,354,534
Net Assets $717,028
Compensation
Key Employees and Officers Compensation Related Other
Ione Gamrat (Director) $121,800 $0 $0
Richard Otto (President) $103,137 $0 $0
Cynthia Reynolds (Board Member) $1,800 $0 $0
Charles Schroeder (Board Chairman) $1,800 $0 $0
Dr Patricia Widmayer (Board Member) $1,800 $0 $0
Tom Kube (Board Member) $1,800 $0 $0
+ View more people

Document Links

990
Filed on Nov. 8, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$8,216,857
Expenses
$7,692,932
Net Income
$523,925
Net Assets
$519,385
Notable Sources of Revenue Percent of Total Revenue
Contributions $600,000
7.3%
Program Services $7,647,741
93.1%
Investment Income $4,692
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income -$35,576
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $426,195
5.5%
Professional Fundraising Fees $0
Other Salaries and Wages $3,001,221
39.0%
Assets/Debt
Total Assets $18,459,967
Total Liabilities $17,940,582
Net Assets $519,385

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$8,290,294
Expenses
$8,231,161
Net Income
$59,133
Net Assets
-$5,540
Notable Sources of Revenue Percent of Total Revenue
Contributions $300,250
3.6%
Program Services $8,012,692
96.7%
Investment Income $6,336
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income -$28,984
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $421,400
5.1%
Professional Fundraising Fees $0
Other Salaries and Wages $3,148,713
38.3%
Assets/Debt
Total Assets $22,941,565
Total Liabilities $22,947,105
Net Assets -$5,540

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,510,278
Expenses
$3,985,670
Net Income
$524,608
Net Assets
$535,327
Notable Sources of Revenue Percent of Total Revenue
Contributions $105,000
2.3%
Program Services $4,409,917
97.8%
Investment Income $3,790
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income -$8,429
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $164,815
4.1%
Professional Fundraising Fees $0
Other Salaries and Wages $1,698,042
42.6%
Assets/Debt
Total Assets $24,189,365
Total Liabilities $23,654,038
Net Assets $535,327

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF
Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

PDF

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$29,600
Expenses
$27,360
Net Income
$2,240
Net Assets
$10,719
Notable Sources of Revenue Percent of Total Revenue
Contributions $29,600
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $10,719
Total Liabilities $0
Net Assets $10,719

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$78,957
Expenses
$70,478
Net Income
$8,479
Net Assets
$8,479
Notable Sources of Revenue Percent of Total Revenue
Contributions $78,956
100.0%
Program Services $0
Investment Income $1
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $8,479
Total Liabilities $0
Net Assets $8,479
Compensation
Key Employees and Officers Compensation Related Other
Thomas A Kube (Chair) $0 $0 $0
Bonnie J Weaver (Secretary) $0 $0 $0
Michael August (Treasurer) $0 $0 $0

Document Links

990
Filed on Oct. 27, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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