Totals
- Total revenue
- $730,236
- Total expenses
- $538,228
- Contributions and grants received
- $747,629
- Grants paid
- $0
- Program service revenue
- $68,397
- Investment income
- $0
- Other revenue
- -$85,790
- Total assets, end of year
- $2,966,115
- Total liabilities, end of year
- $8,330
- Net assets or fund balances, end of year
- $2,957,785
- Program services expenses (Part IX)
- $435,366
- Management and general expenses
- $102,862
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $435,366
Program services were 80.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$146,810
-
1e · Government grants (contributions)
$138,500
-
1f · All other contributions, gifts and grants
$462,319
-
2a · Program service revenue: 4201 CLASS FEES/TUITION - ART
total $23,165 · related or exempt $23,165
-
2b · Program service revenue: CONCERT SERIES UNDERWRITING-F
total $22,300 · related or exempt $22,300
-
2c · Program service revenue: 4953 NEWSLETTER - SPONSORS/AD
total $11,000 · related or exempt $11,000
-
2d · Program service revenue: 4105 SCULPTURE GARDEN - FR
total $10,000 · related or exempt $10,000
-
2e · Program service revenue: 4952 GIFT SHOP
total $1,716 · related or exempt $1,716
-
2f · All other program service revenue
total $216 · related or exempt $216
-
6a · Gross rents
real property $151,914
-
6b · Less rental expenses
real property $222,708
-
6c · Rental income or loss
real property -$70,794
-
6d · Net rental income or loss
total -$70,794 · excluded -$70,794
-
8a · Fundraising events: gross income
$65,909
-
8b · Fundraising events: direct expenses
$91,276
-
8c · Net income from fundraising events
total -$25,367
-
11a · Other revenue: 4150 RENTAL RECEIPTS
total $14,738 · related or exempt $14,738
-
11b · Other revenue: 4950 MISCELLANEOUS RECEIPTS
total $8,540 · related or exempt $8,540
-
11c · Other revenue: 4957 ART SALES
total -$12,907 · related or exempt -$12,907
-
11e · Other revenue, total
$10,371
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $205,409 · program services $205,409
-
10 · Payroll taxes
total $17,536 · management and general $17,536
-
11b · Fees: legal
total $151,033 · program services $151,033
-
11g · Fees: other
total $34,138 · program services $34,138
-
12 · Advertising and promotion
total $63,398 · program services $5,657 · management and general $57,741
-
13 · Office expenses
total $20,736 · program services $4,519 · management and general $16,217
-
20 · Interest
total $55 · management and general $55
-
23 · Insurance
total $6,913 · management and general $6,913
-
24a · Other expenses: 6098 GUILD EXPENSES - OPD
total $10,143 · program services $10,143
-
24b · Other expenses: SCULPTURE GARDEN - OPD
total $4,862 · program services $4,862
-
24c · Other expenses: TRAVEL
total $4,531 · program services $4,531
-
24d · Other expenses: 7110 DUES & SUBSCRIPTIONS
total $4,400 · management and general $4,400
-
24e · All other expenses
total $15,074 · program services $15,074
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $861,822 · end of year $656,340
-
2 · Savings and temporary cash investments
beginning of year $18,269 · end of year $15,676
-
10a · Land, buildings and equipment: cost or other basis
$2,415,243
-
10b · Land, buildings and equipment: accumulated depreciation
$122,612
-
10c · Land, buildings and equipment, net
beginning of year $1,888,599 · end of year $2,292,631
-
11 · Investments: publicly traded securities
beginning of year $254 · end of year $254
-
13 · Investments: program-related
beginning of year $192,439
-
15 · Other assets
beginning of year $1,214 · end of year $1,214
-
21 · Escrow or custodial account liability
beginning of year $6,592 · end of year $6,592
-
25 · Other liabilities
beginning of year $2,290 · end of year $1,738
-
27 · Net assets without donor restrictions
beginning of year $2,953,715 · end of year $2,957,785
Mission and programs · 2023
Mission
LMFA'S MISSION STATEMENT IS TO ENRICH LIVES AND IGINITE A PASSION FOR THE ARTS
-
TO CREATE INTEREST IN THE VISUAL ARTS BY EXHIBITING WORKS OF ART AND PROVIDING ART EDUCATION TO THE PUBLIC AT LARGE.
Expenses $13,906 · Revenue $68,397
-
THESE EXPENSES RELATE TO ALL OF THE PROGRAMS OFFERED BY THE MUSEUM. THESE TYPE EXPENSES DO LEND THEMSELVES TO ALLOCATION AND THEREFORE ARE BEING REPORTED IN TOTAL.
Expenses $421,460
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Michael R ClarkMICHAEL R CLARK
TRUSTEE
- Total calculated
- $0
-
Katherine SmithKATHERINE SMITH
FUNDRAISING
- Total calculated
- $0
-
Kimberly TaliaferroKIMBERLY TALIAFERRO
TRUSTEE
- Total calculated
- $0
-
Miranda FullerMIRANDA FULLER
TRUSTEE
- Total calculated
- $0
-
Devin TramelDEVIN TRAMEL
TRUSTEE
- Total calculated
- $0
-
Keith BondsKEITH BONDS
TRUSTEE
- Total calculated
- $0
-
Jessica WaldronJESSICA WALDRON
TRUSTEE
- Total calculated
- $0
-
Nic TrentNIC TRENT
TRUSTEE
- Total calculated
- $0
-
Sue WilsonSUE WILSON
TRUSTEE
- Total calculated
- $0
-
Dorothy WomackDOROTHY WOMACK
TRUSTEE
- Total calculated
- $0
-
John BarnettJOHN BARNETT
TRUSTEE
- Total calculated
- $0
-
Dr Rodney EllisDR RODNEY ELLIS
TRUSTEE
- Total calculated
- $0
-
Zahckry IsraelZAHCKRY ISRAEL
TRUSTEE
- Total calculated
- $0
-
Ross MassengillROSS MASSENGILL
TRUSTEE
- Total calculated
- $0
-
Keith McInstoshKEITH MCINSTOSH
TRUSTEE
- Total calculated
- $0
-
Erin RoachERIN ROACH
TRUSTEE
- Total calculated
- $0
-
Michelle TraylorMICHELLE TRAYLOR
TRUSTEE
- Total calculated
- $0
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202433259349300618
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