2023-04-06T10:42:54-05:00 2022-06-30 FORVIS LLP 1155 Avenue of the Americas 1200 New York NY 10036 990 2021-07-01 133680286 The Armory Foundation % THIERNO SOW ARMO 2129231803 216 Fort Washington Avenue New York NY 10032 JONATHAN SCHINDEL CO-PRESIDENT AND CFO 2129231803 2022-11-15 true JONATHAN SCHINDEL 999009999 Aaron Shapiro P01333816 2128674000 2 2021 2023-04-26 12:10:37Z JONATHAN SCHINDEL 216 Fort Washington Avenue New York NY 10032 10018338 false X WWW.ARMORY.NYC X 1992 NY THE ARMORY FOUNDATION IS DEDICATED TO SERVING YOUTH BY PROMOTING FITNESS AND EDUCATION THROUGH A BROAD RANGE OF ATHLETIC, EDUCATIONAL AND COMMUNITY PROGRAMS. 22 22 85 60 -28019 0 3828224 4884236 286485 3392994 17928 -137420 2375848 91180 6508485 8230990 0 0 0 0 2534842 3762831 0 0 154672 2032474 4142932 4567316 7905763 1941169 325227 12095607 10796175 2458284 924230 9637323 9871945 X THE ARMORY FOUNDATION, A NYC NOT-FOR-PROFIT AND HOME TO THE PREMIER INDOOR TRACK AND FIELD CENTER IN AMERICA, IS COMMITTED TO SERVING YOUTH BY PROMOTING EXCELLENCE AND FITNESS THROUGH A BROAD RANGE OF ATHLETIC, EDUCATIONAL AND COMMUNITY PROGRAMS. THE ARMORY FOUNDATION'S PRIMARY EMPHASIS IS REACHING AND MOTIVATING THE YOUTH OF ALL FIVE BOROUGHS OF NEW YORK CITY BY OFFERING THEM COMPETITIVE TRACK AND FIELD ACTIVITIES AND BROADENING THEIR HORIZONS WITH COMPUTER CLASSES, COLLEGE PREPARATION PROGRAMS AND A VARIETY OF CULTURAL AND SCHOOL-COORDINATED EDUCATIONAL ACTIVITIES. THE ARMORY FOUNDATION HOSTS OVER 100 TRACK EVENTS EACH YEAR, MAINTAINS THE NATIONAL TRACK AND FIELD HALL OF FAME, OPERATES THE LARGEST AFTER-SCHOOL ACTIVITY CENTER IN NEW YORK AND OFFERS A VARIETY OF COMMUNITY SUPPORT PROGRAMS IN ITS WORLD CLASS FACILITY. false true 4510439 2519238 TRACK AND FIELD MEETS: TYPICALLY, OVER 100 TRACK AND FIELD MEETS ARE HELD EACH YEAR AT THE ARMORY RANGING IN SIZE FROM 100 ATHLETES TO OVER 5,000. THE ARMORY TRACK IS CONSIDERED TO BE THE FASTEST TRACK IN THE WORLD AND ATTRACTS ATHLETES AND SPECTATORS FROM ALL OVER THE UNITED STATES. HOWEVER, DUE TO COVID-19, APPROXIMATELY 10% OF USUAL TRACK AND FIELD MEETS AT THE ARMORY WERE CANCELLED DURING THE 2021-22 FISCAL YEAR, AND FEWER SPECTATORS ATTENDED THOSE TRACK & FIELD MEETS THAT WE HOSTED. TRACK PRACTICES: IN A NORMAL YEAR, THE ARMORY HOSTS 220 TRACK PRACTICE SESSIONS EACH SEASON ATTRACTING APPROXIMATELY 50,000 VISITS OF MOSTLY YOUNG ATHLETES. THE TRACK SEASON RUNS FROM OCTOBER THROUGH THE MIDDLE OF APRIL. THE OBJECTIVE IS TO FULFILL THE MISSION OF THE ARMORY OF KEEPING KIDS ON TRACK. HOWEVER, BECAUSE OF COVID-19 SURGES AND CERTAIN VACCINATION REQUIREMENTS APPLICABLE TO THE ARMORY, THE NUMBER OF ATHLETES PRACTICING WAS LESS THAN IN A TYPICAL YEAR. 878184 413201 ARMORY COLLEGE PREP HIGH SCHOOL: THIS IS A FOCUSED PROGRAM TARGETING HIGH SCHOOL STUDENTS WHO PRACTICE AT THE ARMORY, MANY OF WHOM WILL BE FIRST-GENERATION COLLEGE STUDENTS. ARMORY COLLEGE PREP SUPPLIES RIGOROUS ACADEMIC INSTRUCTION, SAT PREP CLASSES, ONE-ON-ONE COLLEGE COUNSELING, INCLUDING FINANCIAL AID AND NCAA REGULATION INFORMATION AND MULTIPLE TRIPS TO VISIT COLLEGES. IN A TYPICAL YEAR, THIS PROGRAM WORKS WITH OVER 100 STUDENTS EACH YEAR TO COMPLETE HIGH SCHOOL, GAIN ACCEPTANCE TO AND TO SUCCEED AT COLLEGE. DUE TO COVID-19, THE NUMBER OF STUDENTS IN ACP WAS REDUCED BY APROXIMATELY 30%. ARMORY COLLEGE PREP MIDDLE SCHOOL: THIS PROGRAM WORKS WITH STUDENTS IN GRADES 4-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM. THE FOCUS OF THE PROGRAM IS TO ENGAGE THE STUDENTS IN MATH, READING AND ROBOTICS, ENCOURAGE GOOD STUDY HABITS AND PROVIDE GUIDANCE ON HIGH SCHOOL CHOICE FOR CHILDREN AND THEIR FAMILIES. DESPITE COVID-19, THE ARMORY HAS EXPERIENCED STEADY ENROLLMENT OF APPROXIMATELY 35 STUDENTS. 666280 HIGH SCHOOL TRAINING: IN A TYPICAL YEAR, UP TO 2,000 NEW YORK CITY STUDENTS TRAIN AT THE ARMORY, TUESDAYS AND THURSDAYS FROM NOVEMBER TO APRIL ON THE FABLED ARMORY TRACK. TRAINING INCLUDES A SUPPLEMENTAL COACHING STAFF PAID BY THE ARMORY TO HELP STUDENTS DEVELOP THEIR SKILLS. MANY COACHES ARE FLUENT IN ONE OF THE EVENTS OF TRACK AND FIELD. FEW ARE EXPERTS IN THROWING, POLE-VAULTING, HURDLES OR EVEN RACE-WALKING. IN ORDER TO PROVIDE THE BEST POSSIBLE EXPERIENCE, THE ARMORY BRINGS IN THESE COACHES. YOUTH TRAINING: IN A NORMAL YEAR, AS MANY AS 500 STUDENTS IN GRADES 2-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM TRAIN AT THE ARMORY MONDAYS AND WEDNESDAYS FROM OCTOBER TO MAY IN THE CITY TRACK, LITTLE FEET AND TINY FEET PROGRAMS. A FULL COACHING STAFF IS PROVIDED TO THE CHILDREN TO TEACH THE BASICS OF TRACK AND FIELD AND TO ENSURE THE CHILDREN HAVE PLENTY OF FUN AT THE SAME TIME. AS A RESULT OF COVID-19 AND CERTAIN NEW YORK CITY VACCINATION REQUIREMENTS, THESE PRACTICES WERE APPROXIMATELY 50% SMALLER THAN IN A TYPICAL YEAR. 545359 Armory College Prep Middle School 158629 Youth Training 181631 SUNY Attain Lab/Community Partners 95037 Hall of Fame 103216 Community Relations 355056 460555 Other 1438928 460555 7493831 true true false false false false false false false true true false false false false false false false false false false false false false true false false false false true false false false false false false false false false false false false false false false false false true 133 0 85 true true true false false false false true true false false false false false false X 22 22 false false false false false false false true true false false false true true true true true true false false NY X THIERNO SOW 2129231803 216 FORT WASHINGTON AVENUE NEW YORK NY 10032 RITA FINKEL CO-PRESIDENT 45.0 0.0 X 315614 0 11510 JONATHAN SCHINDEL CO-PRESIDENT 45.0 0.0 X 289361 0 30954 GLENNIS AQUINO-GIL CHIEF ADMINISTRATIVE OFFICER 45.0 0.0 X 151167 0 14311 ALBERTO AQUINO DIRECTOR OF YOUTH PROGRAMMING 40.0 0.0 X 124216 0 11510 JOHN CARPENTER DIRECTOR OF FACILITIES 40.0 0.0 X 123516 0 11510 KENNETH DWYER BUILDING MANAGER 40.0 0.0 X 121678 0 11510 MARY ROSE SYNEK Director of Creative Develop. 40.0 0.0 X 107413 0 11510 CLAYTON D HARDING DIRECTOR OF College Counseling 40.0 0.0 X 107705 0 885 Michael Frankfurt Chairman 2.0 0.0 X X 0 0 0 Michael Blum Vice Chairman 2.0 0.0 X X 0 0 0 EDWARD STERN TREASURER 2.0 0.0 X X 0 0 0 Sandra Harris Secretary 2.0 0.0 X X 0 0 0 JACQUELINE VALOUCH DIRECTOR 2.0 0.0 X 0 0 0 JANE OTT DIRECTOR 2.0 0.0 X 0 0 0 JOHN JENKINS DIRECTOR 2.0 0.0 X 0 0 0 KERRI DONNER DIRECTOR 2.0 0.0 X 0 0 0 LISA STONE DIRECTOR 2.0 0.0 X 0 0 0 MARIA LUNA DIRECTOR 2.0 0.0 X 0 0 0 MARY BETH HOGAN DIRECTOR 2.0 0.0 X 0 0 0 MARY DARLING DIRECTOR 2.0 0.0 X 0 0 0 Andrew Hogue Director 2.0 0.0 X 0 0 0 Chris Bilsky Director 2.0 0.0 X 0 0 0 MICHAEL YAKER DIRECTOR 2.0 0.0 X 0 0 0 REMYSELL SALAS DIRECTOR 2.0 0.0 X 0 0 0 RICHARD GORDON DIRECTOR 2.0 0.0 X 0 0 0 ROBERT ESNARD DIRECTOR 2.0 0.0 X 0 0 0 Gerry Byrne Director 2.0 0.0 X 0 0 0 SHAHABUDDEEN ALLY DIRECTOR 2.0 0.0 X 0 0 0 TOM LABREQUE DIRECTOR 2.0 0.0 X 0 0 0 WENDY HILLIARD DIRECTOR 2.0 0.0 X 0 0 0 1340670 0 103700 9 false true false THE STATE GROUP 84 GARDEN ROAD SHREWSBURY NJ 07702 TUTORING 229401 1 60887 2030689 2792660 13000 4884236 TRACK MEETS AND EVENTS 711210 2519238 2519238 VENUE RENTALS 711210 460555 460555 ADMISSIONS 532000 413201 413201 3392994 40854 40854 0 0 388661 342266 46395 0 46395 -32057 78452 1237478 1415752 -178274 -178274 -178274 51667 60887 29330 22337 22337 0 0 0 0 0 0 MISCELLANEOUS 900099 18410 18410 ADVERTISING 541800 4038 4038 22448 8230990 3392994 -28019 -18221 0 0 0 0 824448 659558 82445 82445 0 2378971 2347511 31460 16378 15964 334 80 275686 267319 6429 1938 267348 251741 9463 6144 0 0 27482 27482 0 0 0 931586 924923 6663 59929 59929 1388748 1346000 8374 34374 65784 49244 16101 439 0 0 281941 281095 829 17 0 0 0 0 966772 913824 32089 20859 52649 38159 13607 883 EDUCATIONAL/TUTORING FEES 235764 235764 MISCELLANEOUS 132277 102800 28647 830 7905763 7493831 257260 154672 3074173 490937 0 0 1274292 1623160 785538 379509 0 0 0 0 0 0 0 0 25177 27276 23823334 17388087 6156415 6435247 780012 1840046 0 0 0 0 0 0 0 0 12095607 10796175 1403468 821670 0 0 421516 102560 0 0 0 0 0 0 0 0 633300 0 0 0 2458284 924230 X 9342645 9582940 294678 289005 9637323 9871945 12095607 10796175 325227 -90605 X false false false X 5264916 1315255 4739180 3828224 4884236 20031811 0 0 5264916 1315255 4739180 3828224 4884236 20031811 1096815 18934996 1335 627256 329329 3686179 429515 5073614 37526 128817 64880 93728 22337 347288 49001 19664 4508 16633 18410 108216 25560929 14089069 0.74078 0.68770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 708250 173518 -77651 33334 770783 640876 50723 89549 72898 708250 448901 189854 17527 15406 640876 312775 123568 21642 9084 448901 0 315192 2417 317609 0.67400 0.30440 0.02160 true false 16880617 11679839 5200778 6942717 5708248 1234469 6435247 SCHEDULE D, PART V, LINE 4 THE ENDOWMENT FUNDS ARE RESTRICTED FUNDS. ONLY INTEREST (100%), DIVIDENDS (100%), AND CAPITAL APPRECIATION (65%) CAN BE DISTRIBUTED SEMI-ANNUALLY TO THE ARMORY. HOWEVER, WITH THE BOARD'S AUTHORIZATION, THE ARMORY CAN BORROW FROM THESE FUNDS OR AGAINST THEM INSTEAD OF USING A REGULAR LENDER SUCH AS THE FUND FOR THE CITY OF NEW YORK, IF NEED BE. IN THAT SENSE, THE FUNDS SERVE BOTH AS A RESERVE AND SOURCE OF INCOME FOR NORMAL OPERATIONS. schedule D, Part XI, Line 2d Rent Expense: $342,266 Schedule D, Part XII, Line 2D Rent Expense: $342,266 SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. INDOOR MARATHON 37348 26392 10956 1392 2720 4680 BENEFIT 50206 34495 15711 18100 1 25000 25000 2438 112554 60887 51667 1392 23258 4680 29330 22337 X X false false false false false false false true false RITA FINKEL CO-PRESIDENT 301014 0 14600 0 0 0 1000 0 10510 0 327124 0 JONATHAN SCHINDEL CO-PRESIDENT 274761 0 14600 0 0 0 1000 0 29954 0 320315 0 GLENNIS AQUINO-GIL CHIEF ADMINISTRATIVE OFFICER 140917 0 10250 0 0 0 855 0 13456 0 165478 0 SCHEDULE J, LINE 7 Bonuses are merit based. The bonus proposal for the CO-PRESIDENTS goes to the chair of the Board who confers with the Executive Committee of the Board for approval. All other bonuses are determined and approved by the CO-PRESIDENTS. FORM 990, PART III, LINE 3 DURING THE FISCAL YEAR, COVID-19 CONTINUED TO HAVE A MEDERATE IMPACT ON OUR PROGRAMS. THE TRACK AND FIELD SEASON COMPLETED APPROXIMATELY 90% OF PLANNED MEETS, BUT MANY OF THESE TRACK AND FIELD MEETS HAD FEWER COMPETITORS AND FEWER SPECTATORS THAN IN A TYPICAL YEAR. ARMORY COLLEGE PREP, BOTH HIGH SCHOOL AND MIDDLE SCHOOL PROGRAMS, CONTINUED THROUGHOUT THE YEAR. BECAUSE OUR MIDDLE SCHOOL STUDENTS LIVE IN WASHINGTON HEIGHTS, INWOOD, AND HARLEM, OUR STUDENTS WERE ABLE TO ATTEND IN-PERSON. OUR YOUTH ATHLETIC PROGRAMS, CITYTRACK, LITTLE FEET, AND TINY FEET, PROVIDED IN-PERSON PROGAMMING REGULARLY SCHEDULED. HOWEVER, NEW YORK CITY REGULATIONS GENERALLY RESTRICTED ACCESS TO THE ARMORY TO ONLY THOSE WHO WERE VACCINATED. COMBINED WITH THE OCCASSIONAL SURGES OF COVID-19, THE ATTENDANCE AT OUR CITYTRACK, LITTLE FEET, TINY FEET AND, TO SOME EXTENT, THE HIGH SCHOOL PORTION OF ARMORY COLLEGE PREP, WERE IMPACTED IN VARYING DEGREES BY COVID-19. SIMILARLY, VENUE RENTALS AT THE ARMORY WERE MARKEDLY LESS THAN IN A TYPICAL YEAR DUE TO COVID-19'S IMPACT ON IN-PERSON GATHERINGS AT INDOOR LOCATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND COO REVIEWED THE 990 BEFORE IT WAS FILED. ANY QUESTIONS ARE BROUGHT UP TO THE PREPARER BEFORE APPROVAL IS GIVEN FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY EMPLOYEE IS REQUIRED TO SIGN A CONFLICT OF INTEREST AND DISCLOSURE FORM IN ORDER TO ENSURE EMPLOYEE COMPLIANCE WITH THE EMPLOYEE MANUAL AND CONFLICT OF INTEREST POLICY WHICH IS UPDATED YEARLY. BOARD MEMBERS ARE ALSO REQUIRED TO SIGN CONFLICT OF INTEREST AND DISCLOSURE FORM. IF A CONFLICT ARISES, IT IS BROUGHT BEFORE THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION AND PERFORMANCE OF THE CO PRESIDENTS ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE USING COMPARABILITY DATA FOR SIMILARLY QUALIFIED PERSONS. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. ALL OTHER OFFICERS' COMPENSATION IS REVIEWED BY MANAGEMENT ANNUALLY. THIS PROCESS WAS PERFORMED IN JANUARY 2022 AND MAY 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON WWW.ARMORY.NYC. THE GOVERNING DOCUMENTS ARE AVAILABLE ON UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:931586