Totals
- Total revenue
- $1,695,301
- Total expenses
- $53,156
- Contributions and grants received
- $1,613,857
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $135,473
- Other revenue
- -$54,029
- Total assets, end of year
- $6,217,888
- Total liabilities, end of year
- $513,313
- Net assets or fund balances, end of year
- $5,704,575
- Program services expenses (Part IX)
- $3,521
- Management and general expenses
- $44,047
- Fundraising expenses
- $5,588
- Program service expenses (Part III)
- $3,521
Program services were 6.6% 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.
-
1c · Fundraising events
$107,597
-
1f · All other contributions, gifts and grants
$1,506,260
-
1g · Noncash contributions included above
$20,042
-
3 · Investment income
total $135,473 · excluded $135,473
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $82,305
-
6b · Less rental expenses
real property $103,113
-
6c · Rental income or loss
real property -$20,808
-
6d · Net rental income or loss
total -$20,808 · unrelated business -$20,808
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$17,400
-
8a · Fundraising events: contributions included on line 1c
$107,597
-
8b · Fundraising events: direct expenses
$50,781
-
8c · Net income from fundraising events
total -$33,381 · excluded -$33,381
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$1,090
-
10b · Cost of goods sold
$930
-
10c · Net income from sales of inventory
total $160 · related or exempt $160
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $3,329 · management and general $3,329
-
11c · Fees: accounting
total $3,297 · management and general $3,297
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $8,102 · management and general $6,947 · fundraising $1,155
-
13 · Office expenses
total $281 · management and general $281
-
14 · Information technology
total $35 · management and general $35
-
15 · Royalties
total $0
-
16 · Occupancy
total $294 · management and general $294
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $51 · management and general $51
-
20 · Interest
total $3,951 · management and general $3,951
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $756 · program services $750 · management and general $6
-
23 · Insurance
total $2,004 · management and general $2,004
-
24a · Other expenses: Printing and Publications
total $14,749 · management and general $14,117 · fundraising $632
-
24b · Other expenses: Bank and service fees
total $5,366 · management and general $1,666 · fundraising $3,700
-
24c · Other expenses: Dues and subscriptions
total $3,809 · management and general $3,809
-
24d · Other expenses: Postage and Shipping
total $3,106 · management and general $3,005 · fundraising $101
-
24e · All other expenses
total $4,026 · program services $2,771 · management and general $1,255
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $630,078 · end of year $402,498
-
2 · Savings and temporary cash investments
beginning of year $500,201 · end of year $1,309,375
-
3 · Pledges and grants receivable
beginning of year $779,477 · end of year $1,512,300
-
4 · Accounts receivable
beginning of year $50,006 · end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $4,289 · end of year $4,339
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$3,033,365
-
10b · Land, buildings and equipment: accumulated depreciation
$47,826
-
10c · Land, buildings and equipment, net
beginning of year $3,008,443 · end of year $2,985,539
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $102,266 · end of year $3,837
-
17 · Accounts payable and accrued expenses
beginning of year $54,130 · end of year $5,613
-
23 · Secured mortgages and notes payable
beginning of year $450,000
-
25 · Other liabilities
beginning of year $508,200 · end of year $507,700
-
27 · Net assets without donor restrictions
beginning of year $4,062,430 · end of year $4,904,575
-
28 · Net assets with donor restrictions
end of year $800,000
Mission and programs · 2023
Mission
films, throwback favorites, and engaging non-film events. Our goal is for The Trust to own the Park Theater building for the community, protect the Theater from outside development, and retain it for the enjoyment of future generations.
Activities or mission (Part I)
The mission of The Park Theater Trust is to refurbish and operate Lafayettes iconic Park Theater building, and to revitalize it into an accessible and inclusive, community-centered cinema, arts and culture hub with programming that includes critically acclaimed (see page 2)
-
Initially called together as a volunteer task force by the City of Lafayette, The Park Theater Trust (TPPT) is a 501(c)(3) Public Benefit corporation. In April 2019, we were awarded seed monies by the Lafayette Community Foundation (LCF), and in February 2020, we received our formal determination letter from the IRS confirming our tax-exempt status. TPTT has since been the recipient of two additional Excellence Grants by LCF. Primarily due to private donations and grants from family foundations, LCF and other institutions including the City of Lafayette, TPTT raised the $3 million required to purchase the Park Theater property for the community, and closed escrow in December 2021.
Expenses $3,521
-
Reopening the Park Theater consistently ranks in the top four community concerns a priority of citizens, local business, and the City. As an anchor of a revitalized town center, the Park will become a magnet a center for newly released Hollywood movies and classics, independent and foreign films, and creative programming to appeal to all ages. The time is NOW for the Park Theater to resume its rightful place in this newly vibrant scene and shine again in the role for which it was created: Entertaining and engaging the entire Lafayette community.
As filed on the 2023 return.
Listed in Part VII
-
Kathy Bowles
President
- Total calculated
- $0
- Hours/week
- 4.5
-
Jana Corey
Secretary
- Total calculated
- $0
- Hours/week
- 4
-
Tracey Farrell
CFO
- Total calculated
- $0
- Hours/week
- 4
-
Awais Mughal
Director
- Total calculated
- $0
- Hours/week
- 3
-
Larry Haydon
Director
- Total calculated
- $0
- Hours/week
- 3
-
Angela Ferrif
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
John McCormick
Director
- Total calculated
- $0
- Hours/week
- 2
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
- 2023v5.1
- Source object
- 202413199349306291
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