Totals
- Total revenue
- $152,314
- Total expenses
- $105,631
- Contributions and grants received
- $116,899
- Grants paid
- not reported
- Program service revenue
- $20,945
- Membership dues (line 3)
- not reported
- Investment income (line 4)
- $2,159
- Gain or loss on sale of assets (line 5c)
- not reported
- Gaming and fundraising events, net (line 6d)
- not reported
- Gross profit on inventory sales (line 7c)
- -$2,065
- Other revenue (line 8)
- $14,376
- Total assets, end of year
- $274,768
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $274,768
- Program service expenses (Part III)
- $26,446
Program services were 25.0% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.
Mission and programs · 2023
Primary exempt purpose
Global Lounge Incorporated is committed to thoughtful cultural preservation, education, integration and the promotion of cultural awareness by harnessing the power and beauty of diversity and community development.
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One of the goals of Global Lounge Incorporated is the establishment of the Global Lounge Farm and Art Market. Local communities will be able to bring garden produce, crafts and skills to sell to the general public. Expenses are predominately start-up costs for folding tables, bike rack and signage. Large movable tents were purchased for $24,000 .00 which were capitalized on the Balance Sheet in Equipment. This first year six vendors committed to the Market and approximately 30 customers were served weekly. A Juneteenth event was held where 20 vendors participated and approximately 300 people attended.
Expenses $12,133 · Grants $30,000
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The World Village Festival is Global Lounge's signature event. The WVF was scaled down this year to reevaluate the location and dates. World Village at Treefort Hall was a one-night ticketed event. Expenses were for advertising and performers. Local acts were Andrew Nemr and Danza Astera Tanatui. The headliner was Tito Puente, Jr. who attracted approximately 200 people coming to salsa dance. The Grantors have approved that $10,000.00 of their grant can be carried forward to World Village Festival 2024.
Expenses $11,273 · Grants $23,000
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Global Lounge provided a drumming class for students at Taft Elementary and African dance classes to the International Rescue Committee. Expenses were payments to the instructors who served approximated 150 students.
Expenses $3,040 · Grants $3,040
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NA
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NA
As filed on the 2023 return.
Listed in Part IV
-
Sage Agbonkese
Director, Vice President
- Total calculated
- $0
- Hours/week
- 15
-
Wayne Rancourt
Director, President
- Total calculated
- $0
- Hours/week
- 20
-
Bonnie M Pfaff
Director, Treasurer
- Total calculated
- $0
- Hours/week
- 20
-
Donna Kovaleski
Executive Director
- Total calculated
- $0
- Hours/week
- 20
-
Dayo Ayodele
Artistic Director
- Total calculated
- $0
- Hours/week
- 30
-
Maya Durotivic
Director
- Total calculated
- $0
- Hours/week
- 5
-
Marcus Tam
Director
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990_ez
- Tax year
- 2023
- Filed
- 26 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421179349201407
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