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New York BBB Wise Giving Report for
Armory Foundation

A BBB Accredited charity

 



Expiration Date:
08/2015
Name:
Armory Foundation
Address:
216 Fort Washington Avenue
New York, NY 10032
Phone:
212-923-1803
Year, State Incorporated:
1991, New York
Affiliates:
None
Stated Purpose:
" Serves youth by promoting excellence and fitness through a broad range of athletic, educational and community programs. "





Evaluation Conclusions
 

              
Armory Foundation meets the 20 Standards for Charity Accountability.




Programs
 

              
The Armory Foundation works primarily with the youth of the greater New York Area by hosting competitive track and field activities, as well as offering educational programs. In addition to hosting track events, the organization maintains the National Track and Field Hall of Fame, runs an after school activity center and offers community support programs. At The Charles B. Rangel Technology and Learning Center, various educational programs are offered such as computer courses, a GED preparation course, and an ESL course. The organization also supports The New Heights Neighborhood Center, which contains a Career Resource Center and other job placement services.



Governance
 

              
Chief Executive Officer:
Dr. Norbert Sander, Executive Director
Compensation*:
$218,000
Chair of the Board:
Mr. Mike Frankfurt
Chair's Profession / Business Affiliation:
Frankfurt Kurnit Klein & Selz
Board Size:
21
Paid Staff Size:
60



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, print advertisements (newspapers, magazines, etc.), grant proposals, internet
Fund raising costs were 13.6% of related contributions. (Related contributions, which totaled $1,178,049, are donations received as a result of fund raising activities.)




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.




Financial
 

              
The following information is based on The Armory Foundation's Audited Financial Statements for the fiscal year ended June 30, 2012.

Source of Funds  

Program revenues

$1,346,931

Sponsorships

798,613

Venue rental

632,377

Contributions

379,436

Admissions

349,978

Community partner rentals

145,000

Miscellaneous income

33,462

Investment income

1,057

Total Income

$3,686,854

Program Expenses  

Track meets

$2,301,985

Venue rental

404,536

Armory college prep

314,033

Training

208,012

Tech and learning center

137,254

Hall of fame

35,110

Community partners

25,143
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

3,426,073
160,267
225,012

$3,811,352

$(124,498)




Uses of Funds as a % of Total Expenses


Programs: 90%  Fund Raising: 4%  Administrative 6% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $10,314,449
Ending net assets 9,690,208
Total liabilities 536,539

Total assets

$10,226,747






 

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This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.