The Armory Foundation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
The Armory Foundation meets the 20 Standards for Charity Accountability.
Stated Purpose:
The Armory Foundation oversees an indoor track and field center and is committed to serving youth by promoting fitness, a love of sport and the pursuit of individual excellence.
Year, State Incorporated:
1992, NY
The Armory Foundation works primarily with the youth of the greater New York area by hosting over 100 track meets each year, maintaining the US National Track and Field Hall of Fame, operating an after school activities center, providing college prep and academic counseling services and offering a variety of community support services.
For the year ended June 30, 2022, The Armory Foundation's program expenses were:
| Total program services | $6,296,405 |
| Total Program Expenses | $6,296,405 |
Chair of the Board
Jonathan Schindel & Rita Finkel, Co-Presidents
Chair's Profession / Business Affiliation
Board Size
18
Paid Staff Size
35
Method(s) Used:
Invitations to fund raising events, Grant proposals, Internet, Planned giving arrangements, Appeals via Social Media (Facebook, etc.)
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.
The following information is based on The Armory Foundation's audited financial statements for the year ended June 30, 2022.
Source of Funds
| Program revenues | $2,519,238 |
| Sponsorships | $1,844,088 |
| Contributions | $948,572 |
| Venue rental | $675,176 |
| Forgiveness of loan | $633,300 |
| Admissions | $413,201 |
| Government grants | $380,685 |
| Contributed services | $176,968 |
| Community partner rentals | $174,040 |
| Special events benefit | $83,224 |
| Miscellaneous income | $22,448 |
| Investment income | $-228,025 |
| Total Income | $7,642,915 |
Programs: 85% Fundraising: 2% Administrative: 5%
| Total Income | $7,642,915 |
| Total expenses: | $7,430,204 |
| Program expenses | $6,296,405 |
| Fundraising expenses | $133,813 |
| Administrative expenses | $402,139 |
| Other expenses | $597,847 |
| Income in Excess of Expenses | $212,711 |
| Beginning Net Assets | $9,637,323 |
| Other Changes In Net Assets | $21,911 |
| Ending Net Assets | $9,871,945 |
| Total Liabilities | $924,230 |
| Total Assets | $10,796,175 |
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RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Foundation of Metropolitan New York