Light Work Visual Studies Inc
- Assets
- $2.5m
- Revenue
- $399.3k
- Investments
- $1.3m
- Employees
- 0
- Location
- Syracuse, NY
- Founding
- 05/1974
- Data as of
- 06/2022
- EIN
- 23-7385641
Organization Overview
Light Work Visual Studies Inc is located in Syracuse, NY. The organization was established in 1974. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Light Work Visual Studies Inc 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 06/2022, Light Work Visual Studies Inc generated $399.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $392.2k during the year ending 06/2022. 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
ARTIST OPERATED PHOTOGRAPHY CENTER TO ENCOURAGE THE GROWTH AND APPRECIATION OF PHOTOGRAPHIC AND OTHER VISUAL MEDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXEMPT PURPOSE IS AN ARTIST OPERATED PHOTOGRAPHY CENTER,TO ENCOURAGE GROWTH AND APPRECIATION OF PHOTOGRAPHIC AND OTHER VISUAL MEDIA. SEVERAL EXHIBITS AND PUBLICATIONS ARE PRODUCED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Boardman Executive Director | Officer | 40 | $5,000 |
Roberta Jones Treasurer | OfficerTrustee | 1 | $0 |
Christina Limpert Secretary | OfficerTrustee | 1 | $0 |
Emily Reynolds Vice Chair | OfficerTrustee | 1 | $0 |
Vernon Burnett Chair | OfficerTrustee | 1 | $0 |
Ellen Degraffenreid Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $179,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $246,935 |
| Total Program Service Revenue | $117,622 |
| Investment income | $34,206 |
| 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 | $399,264 |
| 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. | $2,500 |
| 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 | $0 |
| Fees for services: Legal | $40 |
| Fees for services: Accounting | $17,248 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,465 |
| Advertising and promotion | $8,371 |
| Office expenses | $49,821 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,629 |
| 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 | $2,459 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $392,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,781 |
| Savings and temporary cash investments | $842,948 |
| 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 | $29,652 |
| Investments—publicly traded securities | $134,455 |
| Investments—other securities | $1,291,525 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,463,361 |
| Accounts payable and accrued expenses | $6,991 |
| Grants payable | $0 |
| Deferred revenue | $14,013 |
| 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 | $21,004 |
| Net assets without donor restrictions | $984,126 |
| Net assets with donor restrictions | $1,458,231 |
| 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 | $2,463,361 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Light Work Visual Studies Inc has recieved totaling $140,000.
| Awarding Organization | Amount |
|---|---|
Joy Of Giving Something Inc Syracuse, NY PURPOSE: TO SUPPORT SCHOLARSHIP PROGRAM | $140,000 |
Endowment Analysis
| Beg. Balance | $1,462,245 |
| Earnings | -$36,265 |
| Ending Balance | $1,425,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |