Cultural Organization Of Lowell
- Assets
- $115.3k
- Revenue
- $18.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 03/2003
- Data as of
- 06/2024
- EIN
- 04-3579969
Organization Overview
Cultural Organization Of Lowell is located in Lowell, MA. The organization was established in 2003. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cultural Organization Of Lowell 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 06/2024, Cultural Organization Of Lowell generated $18.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $9.7k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (22.6%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE CULTURAL ORGANIZATION OF LOWELL'S MISSION IS TO STRENGTHEN THE VITALITY AND ECONOMIC GROWTH OF ARTS AND CULTURE IN LOWELL MASSACHUSETTS BY SERVING THE CREATIVE COMMUNITY BY FOSTERING COMMUNICATION, COLLABORATION, ADVOCACY AND PROMOTION OF CULTURAL AFFAIRS AND EVENTS IN THE CITY OF LOWELL MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH VARIOUS PROGRAMS AND EVENTS, INCLUDING DISCOVER LOWELL, LOWELL CULTURAL HERITAGE BRANDING PROJECT, MASSACHUSETTS POETRY FESTIVAL AND OPEN STUDIOS AND MUSEUMS OF LOWELL, THE ORGANIZATION IS PROVIDING A WELCOME FORUM (THE CITY OF LOWELL) TO A DIVERSE GROUP OF ARTISTS AND ETHNIC GROUPS AS WELL AS A BROADER CULTURAL EXPERIENCE TO PATRONS AND AUDIENCES. IT HAS PROVIDED COORDINATION AND MARKETING SUPPORT FOR THESE AND MANY OTHER EVENTS. THE ORGANIZATION IS ALSO ACTIVELY DEVELOPING AFFORDABLE ARTIST LIVE/WORK SPACE IN AN ONGOING EFFORT TO ENCOURAGE ARTISTS TO SETTLE IN LOWELL, MA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Cook President | OfficerTrustee | 5 | $0 |
James T Lichoulas III Treasurer | OfficerTrustee | 5 | $0 |
Vanna Howard Director | Trustee | 1 | $0 |
Chan Huot Director | Trustee | 1 | $0 |
Sara Khun Director | Trustee | 1 | $0 |
Allison Lamey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,553 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,553 |
| Total Program Service Revenue | $7,009 |
| Investment income | $434 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $334 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,330 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,682 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,075 |
| Office expenses | $628 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,607 |
| Savings and temporary cash investments | $21,716 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $115,323 |
| Accounts payable and accrued expenses | $167 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $167 |
| Net assets without donor restrictions | $115,156 |
| Net assets with donor restrictions | $0 |
| 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 | $115,323 |