American Academy of Art Inc
Donations deductibleRevenue
$1.4m
year to 31 December 2024
Expenses
$2m
year to 31 December 2024
Total assets
$15.1m
$15.6m liabilities
Net assets
Minus $565k
assets less liabilities
Directors and trustees
6
8.4 years on average
Staff
40
4 volunteers
Chair observed
≥6 yrs
Charles Schroeder Jr
Left since last filing
0
no seats appear to have opened
American Academy of Art Inc's network
6 peoplei6 people on this map.The large node is the subject of this page. Solid lines are what the register itself records (6). Form 990 filings give names without a person identifier; SEC insider filings carry a CIK.The board
6 listediTime on the board is observed from the annual filings: the IRS files no appointment date, so the bar counts years from the first filing the person appears on - a lower bound, not a filed start date. Names are exactly as filed. The IRS publishes no person identifier, so this edition does not yet link a person across organisations.Time served and departures are observed across annual filings. Observed time served is a lower bound - a member may have joined before the first year on record. The organisation reported 6 voting members of its governing body on its latest Form 990 Part VI, which matches the board listed here.| Name | Role as filed | Since | On the board |
|---|---|---|---|
| Charles Schroeder JR Chair (also filed as Charles Schroeder) | Chairman | 2018 | 8 yrs |
| Cynthia Reynolds | Board Member | 2018 | 8 yrs |
| Dr Patricia Widmayer | Board Member | 2018 | 8 yrs |
| Ione Gamrat | Vice President | 2018 | 8 yrs |
| Richard Otto | President | 2018 | 8 yrs |
| Tom Kube | Board Member | 2018 | 8 yrs |
Under 5 years5 to 6 years6 years or more
Officers and senior leadership
2 listediNamed in Part VII as officers, key employees or highest-compensated staff - not board members, shown for completeness.| Name | Title as filed | On the filings |
|---|---|---|
| Duncan Webb | Academic Dean | since 2020 |
| Stuart Rosenbloom | Director of Admissions | 2023 |
Pay and hours
year to 31 December 2024iFrom Part VII of the Form 990: compensation reported for each officer, director, trustee, key employee and highest-paid staff member, and the average hours a week they report. Most board members are unpaid; a blank means nothing was reported. Pay from related organisations is shown separately.| Name | Title as filed | Hours a week | Pay from the organisation | Related organisations | Other |
|---|---|---|---|---|---|
| Ione Gamrat | Vice President | 40 | $74k | ||
| Richard Otto | President | 40 | $600 | ||
| Charles Schroeder Jr | Chairman | 5 | $600 | ||
| Dr Patricia Widmayer | Board Member | 1 | $600 | ||
| Tom Kube | Board Member | 1 | $600 | ||
| Cynthia Reynolds | Board Member | 1 | $600 |
About
- Legal name
- American Academy of Art Inc
- EIN
- 463291995
- Address
- 332 South Michigan Avenue, Chicago, IL, 60604-4434
- State
- Illinois
- Mission
- To operate a school of commercial art and fine arts in chicago, illinois. (as filed on the Form 990)
- Activity (NTEE)
- B99 Education
- IRS classification
- 501(c)03 (tax-exempt under section 501(c)(3) where shown)
- Classified purpose
- Education
- Size band
- 8 (IRS master file code)
- Formed
- 2013
- Principal officer
- Richard Otto (as named on the Form 990)
- IRS ruling date
- 1 March 2016
- Status
- Code 01 (unconditional exemption)
- Form 990 filings on record
- 6, latest 2024
- IRS Publication 78
- PC (contributions deductible)
Most connected
Longest observed on the filings
≥8years on the filingsCharles Schroeder JR
≥8years on the filingsCynthia Reynolds
≥8years on the filingsDr Patricia Widmayer
≥8years on the filingsIone Gamrat
Latest return
year to 31 December 2024iFigures from the newest Form 990 or 990-EZ in the IRS e-file releases of 2025 and 2026, for the year ending 31 December 2024. US dollars, as filed.- Total assets
- $15.1m
- Total liabilities
- $15.6m
- Net assets or fund balances
- Minus $565k
- Contributions and grants received
- $430
- Program service revenue
- $1.4m
- Grants and similar paid out
- $52k
- Employees
- 40
- Volunteers
- 4
Filed finances
1 yeariTotals as filed on the IRS Form 990 (revenue and expenses), by tax year.| Tax year | Total revenue | Total expenses | Surplus or deficit |
|---|---|---|---|
| 2024 | $1.4m | $2m | Deficit $629k |
As filed on the IRS Form 990. US dollars.