PRINCETON ACADEMY OF ART INC

EIN: 822181365 501(c)(3) Arts, Culture & Humanities

PRINCETON, NJ

Total Revenue
$417,533
Total Expenses
$468,696
Total Assets
$139,318
Net Assets
$132,223
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
NJ
Principal Officer
ANNA NEIS
Phone
6099020330
Tax Period
2023-01-01 to 2023-12-31

PRINCETON ACADEMY OF ART INC, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $418K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $469K exceeded revenue, resulting in a 12% operating deficit.

Mission

Princeton Academy of Art is dedicated to educating fine artists in the contemporary academic realism through programming for adults, teens and . children. The organization served 80 - 100 students in 2023.

Program Service Accomplishments

Program 1
Expenses: $371,605 Revenue: $413,223

Provided integrated rigorous technical training in painting, drawing and sculpture with cutting edge artistic concepts and approaches to develop the abilities of students.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,285
Program Service Revenue $413,223
Investment Income $25
Other Revenue $0
TOTAL REVENUE $417,533

Expense Breakdown

Grants Paid $0
Salaries & Benefits $180,416
Fundraising Expenses $40,292
Program Expenses $371,605
Other Expenses $285,605
TOTAL EXPENSES $468,696

Year-over-Year Comparison

2023 2022 Change
Revenue $417,533 $470,441 -0.1%
Expenses $468,696 $388,813 +0.2%
Net Income $-51,163 $81,628 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
4
Independent Members
2
Employees
4
Volunteers
2

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$54,415
Total Directors
2
$54,415
Key Employees
1
$54,415
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANNA NEIS PRESIDENT & CHAIR 40.00
Officer Director Key Emp
$54,415 $0 $54,415
SORAT TUNGKASIRI VICE PRESIDENT 0.50
Officer
$0 $0 $0
PETER SODERMAN ACTING TREASURER 10.00
Officer
$0 $0 $0
CATHERINE SCHURDAK ACTING SECRETARY 0.50
Officer
$0 $0 $0
MATTHEW KARBOWIAK BOARD MEMBER 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $417,533 $468,696 $139,318 $-51,163
2022 $470,441 $388,813 $183,338 $81,628
2021 $378,865 $342,875 $101,480 $35,990
2020 $362,912 $348,436 $66,847 $14,476
2019 $280,605 $234,045 $50,871 $46,560
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