Lubbock Experience Incorporated
- Assets
- $2.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Lubbock, TX
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 20-8957025
Organization Overview
Lubbock Experience Incorporated is located in Lubbock, TX. The organization was established in 2007. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Lubbock Experience Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lubbock Experience Incorporated 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 12/2023, Lubbock Experience Incorporated generated $2.3m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.7%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND GROW THE LUBBOCK COMMUNITY AND WEST TEXAS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023 LUBBOCK EXPERIENCE, INC AND ITS DBA LUBBOCK CULTURAL ARTS FOUNDATION (LCAF) GREW THE MISSION OF THE ORGANIZATION. LCAF WAS SUCCESSFUL IN OBTAINING SEVERAL SMALL GRANTS THAT ALLOWED FOR THE CONTINUATION OF BUFFALO GRASS FEST, ARTS AFTER HOURS AND "GETTING THE GIG" EDUCATIONAL SEMINARS FOR LOCAL MUSICIANS. LCAF NOW SERVES AS THE REGIONAL OFFICE FOR THE 8 MUSIC FRIENDLY CITIES IN THE WEST TEXAS AREA. LUBBOCK EXPERIENCE CONTINUES TO PROVIDE ASSISTANCE TO THE LUBBOCK DOWNTOWN TIF AND THE CITY OF LUBBOCK TO OVERSEE THE CONSTRUCTION OF A CIVIC PARK IN DOWNTOWN LUBBOCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Conwright Chairman | OfficerTrustee | 0.5 | $0 |
John Osborne President | OfficerTrustee | 2 | $0 |
Jana Johnston Secretary/treasurer | OfficerTrustee | 1 | $0 |
Stacy Keith Executive Director | Officer | 40 | $148,657 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $75,000 |
| Government grants | $2,081,234 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,264,734 |
| Total Program Service Revenue | $4,523 |
| Investment income | $62,113 |
| 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 | $2,331,370 |
| 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. | $164,646 |
| Compensation of current officers, directors, key employees. | $16,464 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $14,400 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,234 |
| Advertising and promotion | $77,630 |
| Office expenses | $742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,388 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,659 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $551 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $317,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,297,656 |
| Savings and temporary cash investments | $0 |
| 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 | $772 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,750 |
| Total assets | $2,302,178 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $202,747 |
| Net assets with donor restrictions | $2,099,431 |
| 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 | $2,302,178 |