Skip to content
Nonprofiteer
← FUND FOR THE ARTS INC

Form 990 for tax year 2023

Filed by FUND FOR THE ARTS INC.

Totals

Total revenue
$6,517,943
Total expenses
$6,063,765
Contributions and grants received
$6,075,853
Grants paid
$4,007,863
Program service revenue
$0
Investment income
$438,530
Other revenue
$3,560
Total assets, end of year
$8,322,635
Total liabilities, end of year
$533,338
Net assets or fund balances, end of year
$7,789,297
Program services expenses (Part IX)
$4,864,424
Management and general expenses
$375,880
Fundraising expenses
$823,461
Program service expenses (Part III)
$4,864,424

Program services were 80.2% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $787,983

  • 1f · All other contributions, gifts and grants

    $5,287,870

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $948,714 · related or exempt $948,714 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $25,036 · personal property $0

  • 6b · Less rental expenses

    real property $21,499 · personal property $0

  • 6c · Rental income or loss

    real property $3,537 · personal property $0

  • 6d · Net rental income or loss

    total $3,537 · related or exempt $3,537 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $3,795,660 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $4,305,844 · other assets $0

  • 7c · Gain or loss

    securities -$510,184 · other assets $0

  • 7d · Net gain or loss

    total -$510,184 · related or exempt -$510,184 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $23 · related or exempt $23 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $23

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,007,863 · program services $4,007,863

  • 5 · Compensation of officers, directors and key employees

    total $409,106 · program services $163,642 · management and general $116,874 · fundraising $128,590

  • 7 · Other salaries and wages

    total $924,374 · program services $433,862 · management and general $84,067 · fundraising $406,445

  • 8 · Pension plan contributions

    total $19,446 · program services $7,010 · management and general $3,020 · fundraising $9,416

  • 9 · Other employee benefits

    total $90,770 · program services $32,723 · management and general $14,095 · fundraising $43,952

  • 10 · Payroll taxes

    total $90,905 · program services $41,470 · management and general $11,063 · fundraising $38,372

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $27,900 · program services $0 · management and general $27,900 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $15,000 · program services $0 · management and general $0 · fundraising $15,000

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $53,424 · program services $25,110 · management and general $7,478 · fundraising $20,836

  • 14 · Information technology

    total $125,426 · program services $48,940 · management and general $14,572 · fundraising $61,914

  • 15 · Royalties

    total $18,977 · program services $18,977 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $86,325 · program services $40,835 · management and general $12,176 · fundraising $33,314

  • 17 · Travel

    total $25,864 · program services $12,156 · management and general $3,621 · fundraising $10,087

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $17,564 · program services $3,478 · management and general $11,988 · fundraising $2,098

  • 23 · Insurance

    total $24,507 · program services $11,518 · management and general $3,431 · fundraising $9,558

  • 24a · Other expenses: Campaign Incentives/Entertainment

    total $21,341 · program services $0 · management and general $0 · fundraising $21,341

  • 24b · Other expenses: Printing & Marketing

    total $41,504 · program services $36,535 · management and general $968 · fundraising $4,001

  • 24c · Other expenses: Events & Performers

    total $5,610 · program services $5,610 · management and general $0 · fundraising $0

  • 24d · Other expenses: In Kind Bad Debt Write-Off

    total -$36,207 · program services -$36,207 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $94,066 · program services $10,902 · management and general $64,627 · fundraising $18,537

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $112,447 · end of year $259,945

  • 3 · Pledges and grants receivable

    beginning of year $4,199,255 · end of year $3,674,113

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,046 · end of year $68,731

  • 10a · Land, buildings and equipment: cost or other basis

    $2,129,985

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,694,939

  • 10c · Land, buildings and equipment, net

    beginning of year $487,675 · end of year $435,046

  • 11 · Investments: publicly traded securities

    beginning of year $3,966,723 · end of year $3,675,800

  • 15 · Other assets

    end of year $209,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $158,580 · end of year $155,983

  • 18 · Grants payable

    beginning of year $700,146 · end of year $377,355

  • 27 · Net assets without donor restrictions

    beginning of year $4,492,772 · end of year $4,009,815

  • 28 · Net assets with donor restrictions

    beginning of year $3,428,648 · end of year $3,779,482

Mission and programs · 2023

Mission

At the Fund for the Arts, we believe that art is a right, not a privilege because art is a fundamental expression of the human condition. We envision a healthy and vibrant community where everyone embraces the art that exists in our lives every day, where everyone contributes to the well-being of our arts community, and where everyone belongs. Our Mission is to contribute to the overall health and well-being of our community by generating resources for, investing in, and supporting our local arts, artists and arts organizations.

Activities or mission (Part I)

Vision Statement: We envision a healthy and vibrant community where everyone embraces the art that exists in our lives every day, everyone contributes to the well-being of our arts community, and it is understood that everyone belongs to the arts community. Mission Statement: We contribute to the overall health and well-being of our community by generating resources for, investing in, and supporting our local arts, artists and arts organizations.

  • At the Fund for the Arts, we believe that art is a right, not a privilege because art is a fundamental expression of the human condition. We envision a healthy and vibrant community where everyone embraces the art that exists in our lives every day, where everyone contributes to the well-being of our arts community, and where everyone belongs. Our Mission is to contribute to the overall health and well-being of our community by generating resources for, investing in, and supporting our local arts, artists and arts organizations. The Fund builds a stronger community by investing in a broad range of arts, artists and arts organizations and artistic programs across the region. We work with our community leaders to best leverage the impact of the arts on community priorities such as equity and belonging, education, sustainability and health and well-being. Beyond funding organizations, projects, and programs, we provide support through convening, capacity building, promotion, and advocacy. To achieve this, we provide numerous programs for grant-making, in-kind resource support, and strategic planning for organizations that help empower every resident in our city to see themselves as an artist and a part of the city's artistic landscape. We continue to integrate equity and belonging further into the arts community as we help build capacity and access through our programs. Some of our programs and initiatives include: ARTS IN INSTITUTIONS The original Fund for the Arts initiative, Arts in Institutions is designed to invest in nonprofit arts organizations in the Greater Louisville area via the Sustaining Impact Grants. These grants provide unrestricted operating support to ensure the organization's ongoing capacity to fulfill their mission and drive community impact. All SIG recipients are required to illustrate their equity plan and efforts to diversify within their organization, as well as their efforts to support equity and inclusion in our community. Cultural Pass offers Greater Louisville families with children ages 0-21 access to arts and cultural activities, free of charge, all summer long. Cultural Pass is an innovative endeavor to promote a lifelong love of art and culture to young people, expand access to these organizations and arts providers, and improve summer learning in our community. On average, over 40,000 passes are distributed per summer, resulting in over 66,000 unique arts experiences for our community members. For 10 years, Cultural Pass has been a unique collaboration between Fund for the Arts, Louisville's Arts and Culture Alliance, Louisville Metro Government, Louisville Free Public Library, and additional regional library systems. ARTS IN LEARNING Arts in Learning supports investments in curriculum-based arts programs in schools and other learning environments for all ages, expanding access and learning through arts for students across the Greater Louisville area. Research from Americans for the Arts shows that not only do students engaged in arts programming achieve at higher and more consistent levels, but that young people's arts involvement drastically improves mental and physical health, graduation rates, and civic engagement. At the core of Arts in Learning is better cultural understanding, improved test scores, increased engagement, and critical learning skills. 5x5 and Teacher Artist Grants (TAG) provide funding to K-12 teachers and schools to enhance their classroom instruction with arts programming and experiences throughout the Fund for the Arts service area. These opportunities complement what students learn in the classroom and meet them where they are in out-of-school programming. ARTS IN NEIGHBORHOODS Arts in Neighborhoods supports programming and funding for community-centric arts events and experiences, community engagement activities, and mini-grants for existing event sponsorship. Our neighborhoods are rich, vibrant communities where people play, work, and create. When we partner alongside civic, arts, and neighborhood leaders to support and create intergenerational arts experiences within the neighborhoods themselves, we experience higher outcomes in building and reinforcing strong, healthy neighborhoods. I AM AN ARTIST. I Am An Artist. is a campaign to inspire and empower individuals in our community to reclaim their artistic identity, often in ways they don't expect. I Am An Artist. seeks to remove thought barriers and restrictive understanding of what constitutes art and artist, and think expansively about art and the things we create in our everyday lives. The I Am An Artist. exhibition, opened in the Fund for the Arts lobby in 2023, celebrates just a few of the over 600,000 incredible artists in the Greater Louisville area: the people who live, work, play, and create together in our City of Artists. We hope that by showcasing and uplifting more community members and their many artforms, everyone will be empowered to find their art and feel confident saying to the world, I Am An Artist. The more people in our community who self-identify as artists, the more in-tune they become with the art that surrounds us, the more likely they are to participate through art in our neighborhoods, the more comfortable the entire community feels engaging in arts across the city, the more connected we become.

    Expenses $4,864,424 · Grants $4,007,863 · Revenue $6,517,943

As filed on the 2023 return.

Listed in Part VII

  • Andre Guess

    President & CEO

    Total calculated
    $262,342
    From this org
    $262,342
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,342
    Bonus
    $50,000
    Other
    $0
    Deferred
    $11,000
    Nontaxable benefits
    $8,257
    Filer's total
    $281,599

  • Janie Buckler

    CFO/COO

    Total calculated
    $89,625
    From this org
    $89,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $84,625
    Bonus
    $5,000
    Other
    $0
    Deferred
    $4,100
    Nontaxable benefits
    $7,837
    Filer's total
    $101,562

  • Phillip Poindexter

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • James Allen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Josh Andersen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Cleo Battle

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Neville Blakemore

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kristen Byrd

    Chair Investment Committee

    Total calculated
    $0
    Hours/week
    1

  • Carolle Jones Clay

    Chair Governance & Nominating

    Total calculated
    $0
    Hours/week
    1

  • Charlie Farnsley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Erica Fields

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jon Goldberg

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kim Halbauer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Todd Klimek

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Kull

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Todd Lowe

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Aaron Marcus

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brent McKim

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Greg Pope

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Yamilca Rodriguez

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Paul Thompson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Wheeler

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Wombwell

    Chair Finance Committee

    Total calculated
    $0
    Hours/week
    1

  • Terry Wright

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Victoria Russell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Scott Schaftlein

    Incoming Board Chair

    Total calculated
    $0
    Hours/week
    5

  • Linda Schuster

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kelly Watson

    Chair Equity Committee

    Total calculated
    $0
    Hours/week
    1

  • Mary Beth Warner

    Chair Community Investment Committee

    Total calculated
    $0
    Hours/week
    1

  • Nicole Yates

    Board Chair

    Total calculated
    $0
    Hours/week
    5

  • Regina Blake

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lalania Gilkey-Johnson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • DeVone Holt

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Larry Schwartz

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Vikki Stone

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Leyla Touma-Dailey

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kendrick Vaughn

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Chris Whelan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Carl Thomas

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ed Glasscock

    Board Member

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
The Fund for the Arts' Compensation Committee includes a Chair, the Fund for the Arts' Board Chair, the Chair of the Finance & Audit Committee, and the Chair of the Campaign Committee. Members of the committee review a summary of accomplishments for the year and the compensation data developed from the review of other Forms 990. Recommendations related to the CEO and other executive compensation are discussed and voted on by the Compensation Committee in an executive session and meeting minutes are recorded. Recommendations are then taken to the organization's Executive Committee and/or Board for their final review and approval.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
10 December 2024
IRS schema version
2023v5.0
Source object
202413459349300941

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.