Lexington Friends Of The Arts Inc
- Assets
- $1.9m
- Revenue
- $624.9k
- Investments
- $0.0
- Employees
- 52
- Location
- Lexington, MA
- Founding
- 09/1996
- Data as of
- 08/2022
- EIN
- 04-3245366
Organization Overview
Lexington Friends Of The Arts Inc, operating under the name Munroe Center For The Arts, is located in Lexington, MA. The organization was established in 1996. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2022, Munroe Center For The Arts employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Munroe Center For The Arts is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2022, Munroe Center For The Arts generated $624.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $661.6k during the year ending 08/2022. While expenses have increased by 5.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MUNROE CENTER FOR THE ARTS IS LEXINGTON'S HOME FOR VISUAL AND PERFORMING ARTS-FOR EDUCATION AND EXPERIENCE, FOR SELF-EXPRESSION, REJUVENATION AND FRIENDSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EDUCATION AND PROGRAMMING: MUNROE CENTER FOR THE ARTS OFFERS CLASSES THROUGHOUT THE CALENDAR YEAR IN VISUAL ARTS, CERAMICS AND THEATRE.CAMPS: MUNROE CENTER FOR THE ARTS RUNS CAMPS FOR SCHOOL-AGED CHILDREN DURING THE FEBRUARY, APRIL AND SUMMER SCHOOL VACATIONS.PUBLIC PROGRAMMING: MUNROE CENTER FOR THE ARTS SPONSORS NUMEROUS PROGRAMS THAT OFFER CULTURAL ENRICHMENT TO THE PUBLIC AT NO COST WITH ONLY VOLUNTARY CONTRIBUTIONS COLLECTED. THIS INCLUDES PROGRAMS SUCH AS MUNROE CENTER STAGE, ARTWALK AND VARIOUS ONE TIME EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cristina Burwell Executive Director | Officer | 40 | $62,317 |
Amy Kaser Treasurer | OfficerTrustee | 2 | $0 |
Kim Coburn Co-Chair | OfficerTrustee | 1 | $0 |
Christine Noah Clerk | OfficerTrustee | 2 | $0 |
Cameron Purdy Former Clerk | OfficerTrustee | 3 | $0 |
Steve Poltorzycki Co-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $125,826 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,826 |
| Total Program Service Revenue | $486,982 |
| Investment income | $434 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $624,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $68,886 |
| Compensation of current officers, directors, key employees. | $23,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,705 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $31,240 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,498 |
| Advertising and promotion | $4,755 |
| Office expenses | $9,883 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $133,681 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,193 |
| Insurance | $8,834 |
| All other expenses | $0 |
| Total functional expenses | $661,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,527 |
| Savings and temporary cash investments | $1,311,894 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,616 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,890 |
| Net Land, buildings, and equipment | $481,398 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,837 |
| Total assets | $1,888,162 |
| Accounts payable and accrued expenses | $46,987 |
| Grants payable | $0 |
| Deferred revenue | $53,305 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,845 |
| Total liabilities | $107,137 |
| Net assets without donor restrictions | $616,078 |
| Net assets with donor restrictions | $1,164,947 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,888,162 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lexington Friends Of The Arts Inc has recieved totaling $7,108.
| Awarding Organization | Amount |
|---|---|
Foundation For Metrowest Inc Natick, MA PURPOSE: GENERAL SUPPORT | $7,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $108 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Solomon R Guggenheim Foundation New York, NY | $240,294,871 | $73,166,662 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $388,418,074 | $82,546,120 |
Sterling & Francine Clark Art Inst Williamstown, MA | $670,367,352 | $8,296,004 |
Frick Collection New York, NY | $548,300,043 | $37,986,909 |
Isabella Stewart Gardner Museum Inc Boston, MA | $347,979,013 | $30,352,820 |
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Wadsworth Atheneum Museum Of Art Hartford, CT | $165,426,651 | $15,147,902 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |