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Nonprofiteer
← LUBBOCK EXPERIENCE INCORPORATED

Form 990 for tax year 2023

Filed by LUBBOCK EXPERIENCE INCORPORATED.

Totals

Total revenue
$2,331,370
Total expenses
$317,417
Contributions and grants received
$2,264,734
Grants paid
$0
Program service revenue
$4,523
Investment income
$62,113
Other revenue
$0
Total assets, end of year
$2,302,178
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,302,178
Program services expenses (Part IX)
$280,212
Management and general expenses
$22,805
Fundraising expenses
$14,400
Program service expenses (Part III)
$280,212

Program services were 88.3% 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.

  • 1d · Related organizations

    $75,000

  • 1e · Government grants (contributions)

    $2,081,234

  • 1f · All other contributions, gifts and grants

    $108,500

  • 2a · Program service revenue: FILM FRIENDLY INCOME

    total $4,523 · related or exempt $4,523

  • 3 · Investment income

    total $62,113 · excluded $62,113

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $164,646 · program services $148,182 · management and general $16,464

  • 10 · Payroll taxes

    total $11,473 · program services $10,326 · management and general $1,147

  • 11c · Fees: accounting

    total $2,550 · program services $638 · management and general $1,912

  • 11e · Fees: professional fundraising services

    total $14,400 · fundraising $14,400

  • 11g · Fees: other

    total $18,234 · program services $18,234

  • 12 · Advertising and promotion

    total $77,630 · program services $77,630

  • 13 · Office expenses

    total $742 · program services $557 · management and general $185

  • 16 · Occupancy

    total $12,388 · program services $9,291 · management and general $3,097

  • 19 · Conferences, conventions and meetings

    total $13,659 · program services $13,659

  • 22 · Depreciation, depletion and amortization

    total $551 · program services $551

  • 24a · Other expenses: PROFESSIONAL DUES

    total $665 · program services $665

  • 24b · Other expenses: SUPPLIES

    total $321 · program services $321

  • 24c · Other expenses: MISCELLANEOUS

    total $101 · program services $101

  • 24d · Other expenses: CITY OF LUBBOCK ARTS

    total $57 · program services $57

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $288,102 · end of year $2,297,656

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

    $2,761

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

    $1,989

  • 10c · Land, buildings and equipment, net

    beginning of year $1,323 · end of year $772

  • 15 · Other assets

    beginning of year $0 · end of year $3,750

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,200 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $229,524 · end of year $202,747

  • 28 · Net assets with donor restrictions

    beginning of year $58,701 · end of year $2,099,431

Mission and programs · 2023

Mission

SEEK FUNDING THROUGH PRIVATE CONTRIBUTIONS, SPONSORSHIPS AND APPLY FOR LOCAL, STATE AND NATIONAL GRANTS TO 1) SUPPORT INCREASED PARTICIPATION IN AMATEUR SPORTING EVENTS, 2) ASSIST AND SUPPORT EDUCATIONAL OPPORTUNITIES AND CONFERENCES IN THE COMMUNITY, 3) ASSIST IN SUPPORT OF HISTORIC PRESERVATION AND CULTURAL HERITAGE, AND 4) SUPPORT QUALIFYING ACTIVITIES RELATED TO VISITOR INFORMATION CENTERS IN SUPPORT OF THE LUBBOCK COMMUNITY AND WEST TEXAS AREA.

Activities or mission (Part I)

TO SUPPORT AND GROW THE LUBBOCK COMMUNITY AND WEST TEXAS AREA.

  • IN 2023 LUBBOCK EXPERIENCE, INC AND ITS DBA LUBBOCK CULTURAL ARTS FOUNDATION (LCAF) GREW THE MISSION OF THE ORGANIZATION. LCAF WAS SUCCESSFUL IN OBTAINING SEVERAL SMALL GRANTS THAT ALLOWED FOR THE CONTINUATION OF BUFFALO GRASS FEST, ARTS AFTER HOURS AND "GETTING THE GIG" EDUCATIONAL SEMINARS FOR LOCAL MUSICIANS. LCAF NOW SERVES AS THE REGIONAL OFFICE FOR THE 8 MUSIC FRIENDLY CITIES IN THE WEST TEXAS AREA. LUBBOCK EXPERIENCE CONTINUES TO PROVIDE ASSISTANCE TO THE LUBBOCK DOWNTOWN TIF AND THE CITY OF LUBBOCK TO OVERSEE THE CONSTRUCTION OF A CIVIC PARK IN DOWNTOWN LUBBOCK.

    Expenses $280,212 · Revenue $4,523

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James Conwright

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • John Osborne

    PRESIDENT

    Total calculated
    $415,374
    From this org
    $0
    From related orgs
    $372,272
    Other
    $43,102
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,166 related
    Bonus
    $0 + $85,706 related
    Other
    $0 + $14,400 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $27,852 related
    Filer's total
    $0 + $415,374 related

  • Jana Johnston

    SECRETARY/TREASURER

    Total calculated
    $227,990
    From this org
    $0
    From related orgs
    $208,423
    Other
    $19,567
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,515 related
    Bonus
    $0 + $31,908 related
    Other
    $0
    Deferred
    $0 + $10,476 related
    Nontaxable benefits
    $0 + $9,091 related
    Filer's total
    $0 + $227,990 related

  • Stacy Keith

    EXECUTIVE DIRECTOR

    Total calculated
    $164,086
    From this org
    $148,657
    From related orgs
    $0
    Other
    $15,429
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,657
    Bonus
    $0
    Other
    $0
    Deferred
    $7,441
    Nontaxable benefits
    $7,988
    Filer's total
    $164,086

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 · Compensation survey or study
  • 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

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.1
Source object
202422339349301322

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