Fayette Circuit Court Portrait And Art Charitable Tr
- Assets
- $1.4m
- Revenue
- $12.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 01/2005
- Data as of
- 12/2021
- EIN
- 30-0217765
Organization Overview
Fayette Circuit Court Portrait And Art Charitable Tr is located in Lexington, KY. The organization was established in 2005. According to its NTEE Classification (A51) the organization is classified as: Art Museums, 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. Fayette Circuit Court Portrait And Art Charitable Tr 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 12/2021, Fayette Circuit Court Portrait And Art Charitable Tr generated $12.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.6%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ACTIVITIES OF THE FAYETTE CIRCUIT COURT PORTRAIT AND ART TRUST (THE TRUST) ARE TO MAINTAIN PORTRAITS AND ART IN THE FAYETTE COUNTY CIRCUIT COURTHOUSE (THE COURTHOUSE), AND TO PURCHASE NEW PORTRAITS AND ART FOR THE COURTHOUSE.THE ACTIVITIES OF THE TRUST WILL BE CONDUCTED BY THE TRUSTEES WHO WILL SECURE THE SERVICES OF PROFESSIONALS WHICH ARE NECESSARY TO PERFORM THE ACTIVITIES.THE ACTIVITIES WILL BE CONDUCTED IN FAYETTE COUNTY, KENTUCKY.THE ACTIVITIES WILL FURTHER THE TRUSTS EXEMPT FUNCTION BY SUPPORTING THE COURTHOUSE.THE TRUSTEES WILL ALLOCATE ON AVERAGE LESS THAN 1.0% OF THEIR TIME TO THE TRUST.THE ACTIVITIES OF THE FAYETTE CIRCUIT COURT PORTRAIT AND ART TRUST WILL BE FUNDED BY THE INITIAL CONTRIBUTION OF THE PORTRAITS AND WORKS OF ART IN THE COURTHOUSE INTO THE TRUST, AND CONTRIBUTIONS FROM MEMBERS OF THE FAYETTE COUNTY BAR ASSOCIATION AND THE GENERAL PUBLIC WILL FUND THE MAINTENANCE OF THOSE ITEMS, AND THE PURCHASE OF NEW PORTRAITS AND WORKS OF ART.IN 2002, AT THE FORMATION OF
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Traci Brislin Trustee | Trustee | 0.4 | $0 |
Kimberly Nell Bunnell Trustee | Trustee | 0.4 | $0 |
Julie Muth Goodman Trustee | Trustee | 0.4 | $0 |
Lucinda Masterton Trustee | Trustee | 0.4 | $0 |
Jeffrey Taylor Trustee | Trustee | 0.4 | $0 |
Thomas L Travis Trustee | Trustee | 0.4 | $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 | $12,000 |
| Noncash contributions included in lines 1a–1f | $12,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $12,000 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,363,000 |
| Total assets | $1,363,000 |
| 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 | $0 |
| 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 | $1,363,000 |
| Total liabilities and net assets/fund balances | $1,363,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Huntington Art & Polytechnic Tr Cleveland, OH | $134,688,641 | $10,635,199 |
Hunter Museum Of Art Chattanooga, TN | $45,514,020 | $7,390,848 |
Glass-Glen Burnie Museum Inc Winchester, VA | $37,985,540 | $7,078,309 |
Dayton Art Institute Dayton, OH | $42,942,635 | $5,850,007 |
Jayne Wrightsman Irr Trust Xxxxx7008 Chicago, IL | $23,809,573 | $29,559,094 |
Dixon Gallery And Gardens Memphis, TN | $9,304,777 | $5,610,012 |
Taft Museum Of Art Cincinnati, OH | $54,566,768 | $7,451,068 |
Akron Art Museum Akron, OH | $58,514,760 | $4,858,452 |
The Taubman Museum Of Art Roanoke, VA | $68,810,995 | $4,453,447 |
Contemporary Arts Center Cincinnati, OH | $39,344,617 | $3,979,830 |
Kemper Museum Operating Foundation Kansas City, MO | $21,285,156 | $4,170,305 |
Butler Institute Of American Art Youngstown, OH | $88,830,217 | $5,561,162 |