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Nonprofiteer
← LYNN ARTS INC

Form 990 for tax year 2024

Filed by LYNN ARTS INC.

Totals

Total revenue
$213,125
Total expenses
$242,299
Contributions and grants received
$44,719
Grants paid
$0
Program service revenue
$159,918
Investment income
$8,488
Other revenue
$0
Total assets, end of year
$1,202,873
Total liabilities, end of year
$186,902
Net assets or fund balances, end of year
$1,015,971
Program services expenses (Part IX)
$209,785
Management and general expenses
$18,257
Fundraising expenses
$14,257
Program service expenses (Part III)
$209,785

Program services were 86.6% 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.

  • 1e · Government grants (contributions)

    $42,519

  • 1f · All other contributions, gifts and grants

    $2,200

  • 2a · Program service revenue: ART STUDIO RENTALS

    total $159,918 · excluded $159,918

  • 3 · Investment income

    total $8,488 · excluded $8,488

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,000 · management and general $2,000

  • 13 · Office expenses

    total $7 · program services $5 · management and general $1 · fundraising $1

  • 16 · Occupancy

    total $56,001 · program services $44,801 · management and general $5,600 · fundraising $5,600

  • 20 · Interest

    total $1,793 · program services $1,435 · management and general $179 · fundraising $179

  • 22 · Depreciation, depletion and amortization

    total $54,057 · program services $52,539 · management and general $1,518

  • 23 · Insurance

    total $21,971 · program services $17,577 · management and general $2,197 · fundraising $2,197

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $32,539 · program services $26,031 · management and general $3,254 · fundraising $3,254

  • 24b · Other expenses: MANAGEMENT FEES

    total $25,300 · program services $25,300

  • 24c · Other expenses: ELEVATOR MAINTENANCE

    total $16,534 · program services $13,228 · management and general $1,653 · fundraising $1,653

  • 24d · Other expenses: OTHER CONTRACTED SERVICES

    total $12,618 · program services $12,618

  • 24e · All other expenses

    total $19,479 · program services $16,251 · management and general $1,855 · fundraising $1,373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,050 · end of year $28,566

  • 2 · Savings and temporary cash investments

    beginning of year $504,225 · end of year $445,399

  • 4 · Accounts receivable

    beginning of year $11,874 · end of year $8,250

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

    $2,078,524

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

    $1,359,462

  • 10c · Land, buildings and equipment, net

    beginning of year $647,983 · end of year $719,062

  • 15 · Other assets

    beginning of year $1,596 · end of year $1,596

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,523 · end of year $2,087

  • 19 · Deferred revenue

    beginning of year $65,668 · end of year $66,583

  • 23 · Secured mortgages and notes payable

    beginning of year $41,722 · end of year $37,647

  • 24 · Unsecured notes and loans payable

    beginning of year $45,000 · end of year $70,155

  • 25 · Other liabilities

    beginning of year $10,670 · end of year $10,430

  • 27 · Net assets without donor restrictions

    beginning of year $545,145 · end of year $598,588

  • 28 · Net assets with donor restrictions

    beginning of year $500,000 · end of year $417,383

Mission and programs · 2024

Mission

PROMOTION OF THE ARTS IN LYNN AND GREATER BOSTON

  • LYNN ARTS, INC. IS DEDICATED TO PROMOTING CULTURAL ACTIVITY IN THE CITY OF LYNN, AS WELL AS ENCOURAGING COMMUNITY INTEREST AND INVOLVEMENT IN THE ARTS IN THE GREATER BOSTON AREA.

    Expenses $209,785 · Revenue $159,918

As filed on the 2024 return.

Listed in Part VII

  • Steven Babbitt

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Sandra Forziati

    CLERK

    Total calculated
    $0
    Hours/week
    2

  • Joseph Scanlon

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Steve Walsh

    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.

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
2024
Filed
21 November 2025
IRS schema version
2024v5.0
Source object
202513519349300216

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