BBB Wise Giving Report for
Academy of American Poets

BBB Wise Giving Report issued October 2008
BBB Wise Giving Report expires October 2010


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Charity Contact Information

Name: Academy of American Poets
Address: 584 Broadway,
Suite 604
  New York, NY 10012
Phone: 212-274-0343
Web Address: www.poets.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1936, New York
Affiliates: None

Stated Purpose: "to support American poets at all stages of their careers and to foster the appreciation of contemporary poetry."

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Evaluation Conclusions

               

Academy of American Poets (AAP) meets the 20Standards for Charity Accountability.
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Programs

               

AAP connects people to poetry through programs such as National Poetry Month; Poets.org, a website presenting poems, audio recordings, poet biographies, and essays; the Poetry Audio Archive, capturing the voices of contemporary American poets today for generations to come; and "American Poet", a biannual journal published for its 8,000 members. AAP also awards prizes to poets at all stages of their careers—from student prizes at colleges nationwide to the Wallace Stevens Award for lifetime achievement in the art of poetry.

For the fiscal year ended June 30, 2007, AAP's program expenses were:

  
Program services 1,262,779
Total Program Expenses: $1,262,779
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Governance

               

Chief Executive : Tree Swenson, President/Executive Director
Compensation*:
 $168,403

Chair of the Board: Eunice J. Panetta
Chair's Profession / Business Affiliation: Financial Services

Board Size: 25

Paid Staff Size: 13

*July 1, 2006 - June 30, 2007 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, grant proposals, Internet appeals, planned giving, cause-related marketing, and membership appeals
Fund raising costs were 14% of related contributions. (Related contributions, which totaled $1,272,482, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on AAP's audited financial statements for the fiscal year ended June 30, 2007.

Source of Funds  
Net investment income 1,084,198
Membership dues 484,041
Contributions 448,974
Grants 278,750
Other income 134,125
Benefit event income, net 60,717
Ticket sales 40,954
Total Income $2,531,759


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Uses of Funds as a % of Total Expenses

Programs: 77%  Fund Raising: 11%  Administrative: 12% 

Total income   $2,531,759
  Program expenses $1,262,779
  Fund raising expenses 183,230
  Administrative expenses 201,518
 
Total expenses   $1,647,527
Income in Excess of Expenses   884,232
Beginning net assets   7,067,692
Ending net assets   7,951,924
Total liabilities   187,989
Total assets   $8,139,913

Note: According to AAP's audited financial statements for the year ended June 30, 2007, the organization received $40,078 in in-kind donations including advertising ($26,690), professional fees ($7,988), and paper ($5,400).

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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