BBB Wise Giving Report for
Academy of American Poets

BBB Wise Giving Report issued December 2010
BBB Wise Giving Report expires December 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Academy of American Poets
Address: 75 Maiden Lane,
Suite 901
  New York, NY 10038
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 20 Standards 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 different 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, 2009, AAP's program expenses were:

  
Programs 1,302,912
Total Program Expenses: $1,302,912
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Governance

               

Chief Executive : Tree Swenson, President and Executive Director
Compensation*:
 $162,270

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

Board Size: 18

Paid Staff Size: 13

*July 31, 2008 - June 30, 2009 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, print advertisements, grant proposals, Internet appeals, membership appeals, and planned giving.
Fund raising costs were 20% of related contributions. (Related contributions, which totaled $1,231,732, 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, 2009.

Source of Funds  
Membership dues 466,092
Contributions 430,065
Grants 239,030
Other income 158,001
Ticket sales 51,159
Benefit event income, net 45,386
Net investment loss -315,231
Total Income $1,074,502


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Uses of Funds as a % of Total Expenses

Programs: 75%  Fund Raising: 14%  Administrative: 11% 

Total income   $1,074,502
  Program expenses $1,302,912
  Fund raising expenses 241,090
  Administrative expenses 191,013
 
Total expenses   $1,735,015
Expenses in Excess of Income   (660,513)
Beginning net assets   8,161,409
Ending net assets   7,500,896
Total liabilities   136,119
Total assets   $7,637,015

Note: According to AAP's audited financial statements for the fiscal year ended June 30, 2009, the organization's donated services totaled $36,594 which included advertising ($17,360), paper ($11,760), and professional fees ($7,474).

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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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