Totals
- Total revenue
- $853,593
- Total expenses
- $467,693
- Contributions and grants received
- $831,226
- Grants paid
- $0
- Program service revenue
- $88,706
- Investment income
- $0
- Other revenue
- -$66,339
- Total assets, end of year
- $3,646,497
- Total liabilities, end of year
- $114,877
- Net assets or fund balances, end of year
- $3,531,620
- Program services expenses (Part IX)
- $385,344
- Management and general expenses
- $82,349
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $385,344
Program services were 82.4% 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
$96,417
-
1e · Government grants (contributions)
$112,000
-
1f · All other contributions, gifts and grants
$622,809
-
2a · Program service revenue: SPECIAL EXHIBIT GRANT-TCA
total $25,000 · related or exempt $25,000
-
2b · Program service revenue: CONCERT SERIES UNDERWRITING-F
total $22,750 · related or exempt $22,750
-
2c · Program service revenue: CLASS FEES/TUITION -STUDIO C
total $20,092 · related or exempt $20,092
-
2d · Program service revenue: SCULPTURE GARDEN - FR
total $10,000 · related or exempt $10,000
-
2e · Program service revenue: GIFT SHOP
total $3,923 · related or exempt $3,923
-
2f · All other program service revenue
total $6,941 · related or exempt $6,941
-
6a · Gross rents
real property $145,977
-
6b · Less rental expenses
real property $245,016
-
6c · Rental income or loss
real property -$99,039
-
6d · Net rental income or loss
total -$99,039 · excluded -$99,039
-
8a · Fundraising events: gross income
$92,554
-
8b · Fundraising events: direct expenses
$90,900
-
8c · Net income from fundraising events
total $1,654
-
11a · Other revenue: ART SALES
total $19,679 · related or exempt $19,679
-
11b · Other revenue: RENTAL RECEIPTS
total $10,925 · related or exempt $10,925
-
11c · Other revenue: MISCELLANEOUS RECEIPTS
total $442 · related or exempt $442
-
11e · Other revenue, total
$31,046
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $206,235 · program services $206,235
-
10 · Payroll taxes
total $13,876 · management and general $13,876
-
11b · Fees: legal
total $52,540 · program services $52,540
-
11g · Fees: other
total $31,878 · program services $31,878
-
12 · Advertising and promotion
total $45,314 · program services $1,565 · management and general $43,749
-
13 · Office expenses
total $15,214 · program services $3,160 · management and general $12,054
-
23 · Insurance
total $7,265 · management and general $7,265
-
24a · Other expenses: SPECIAL EXHIBIT EXPENSES
total $35,064 · program services $35,064
-
24b · Other expenses: ART SALES CONSIGNMENT FEE
total $14,186 · program services $14,186
-
24c · Other expenses: SECURITY EXPENSE
total $10,583 · program services $10,583
-
24d · Other expenses: SCULPTURE GARDEN - OPD
total $7,262 · program services $7,262
-
24e · All other expenses
total $28,276 · program services $22,871 · management and general $5,405
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $656,340 · end of year $852,936
-
2 · Savings and temporary cash investments
beginning of year $15,676 · end of year $22,965
-
10a · Land, buildings and equipment: cost or other basis
$2,767,461
-
10b · Land, buildings and equipment: accumulated depreciation
$194,272
-
10c · Land, buildings and equipment, net
beginning of year $2,292,631 · end of year $2,573,189
-
11 · Investments: publicly traded securities
beginning of year $254 · end of year $254
-
13 · Investments: program-related
end of year $195,939
-
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 $5,679
-
25 · Other liabilities
beginning of year $1,738 · end of year $109,198
-
27 · Net assets without donor restrictions
beginning of year $2,957,785 · end of year $3,531,620
Mission and programs · 2024
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 $9,973 · Revenue $88,705
-
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 $375,371
As filed on the 2024 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
PRESIDENT
- Total calculated
- $0
-
Devin TramelDEVIN TRAMEL
TRUSTEE
- Total calculated
- $0
-
Keith BondsKEITH BONDS
TRUSTEE
- Total calculated
- $0
-
Mia KingMIA KING
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
-
Joe CianoJOE CIANO
TRUSTEE
- Total calculated
- $0
-
Jeff GibbsJEFF GIBBS
GUILD PRESID
- Total calculated
- $0
-
Debbie MaxeyDEBBIE MAXEY
TRUSTEE
- Total calculated
- $0
-
Mary Lou TevebaughMARY LOU TEVEBAUGH
TRUSTEE
- Total calculated
- $0
-
Neal TiptonNEAL TIPTON
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
- 2024
- Filed
- 11 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202533189349303723
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