Lexington Art League Inc
- Assets
- $128.3k
- Revenue
- $229.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Lexington, KY
- Founding
- 08/1976
- Data as of
- 06/2022
- EIN
- 31-0890845
Organization Overview
Lexington Art League Inc is located in Lexington, KY. The organization was established in 1976. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Lexington Art League Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Art League 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, Lexington Art League Inc generated $229.7k 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 (8.8%) each year. All expenses for the organization totaled $219.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROMOTES THE VISUAL ARTS IN THE CENTRAL KENTUCKY AREA THROUGH SPONSORSHPS OF EXHIBITS, OFFERING CLASSES, ART FAIRS, AND SIMILAR ENDEAVORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENTAL PROGRAMS FOR ARTISTS, PRODUCTION/PROGRAM EXPENSES FOR ART EXHIBITS, ARTISTS' FEES, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Houlihan Executive Director | Officer | 40 | $56,100 |
Blake Eames Secretary | OfficerTrustee | 2 | $0 |
Dean Langdon Second Vice President | OfficerTrustee | 2 | $0 |
Arthur Shechet Governance Chair | OfficerTrustee | 2 | $0 |
Charles Rowland President | OfficerTrustee | 2 | $0 |
Amanda Ralston First Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,214 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,418 |
| Total Program Service Revenue | $108,257 |
| Investment income | $70 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,009 |
| 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 | $229,681 |
| 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 | $85,856 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,116 |
| Payroll taxes | $7,031 |
| 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 | $12,550 |
| Advertising and promotion | $1,230 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| 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 | $328 |
| Insurance | $7,938 |
| All other expenses | $22,565 |
| Total functional expenses | $219,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,944 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,854 |
| 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 | $4,528 |
| Net Land, buildings, and equipment | $2,132 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $850 |
| Total assets | $128,308 |
| Accounts payable and accrued expenses | $11,360 |
| Grants payable | $0 |
| Deferred revenue | $83,530 |
| 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 | $1,000 |
| Total liabilities | $95,890 |
| Net assets without donor restrictions | $32,418 |
| 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 | $128,308 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lexington Art League Inc has recieved totaling $19,579.
| Awarding Organization | Amount |
|---|---|
Blue Grass Community Foundation Inc Lexington, KY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $10,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $7,579 |
Jedra Charitable Foundation Inc Lexington, KY PURPOSE: GENERAL SUPPORT | $2,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Architecture Foundation Chicago, IL | $18,456,323 | $14,699,492 |
Painting Industry Insurance Fund Strongsville, OH | $10,051,774 | $13,147,287 |
Frist Art Museum Nashville, TN | $27,247,403 | $12,277,490 |
The American Ceramic Society Inc Westerville, OH | $14,880,081 | $7,163,335 |
Textile Rental Services Association Of America Inc Alexandria, VA | $12,660,390 | $5,781,606 |
Fenestration And Glazing Industry Alliance Schaumburg, IL | $6,384,205 | $4,966,632 |
Museum Of Contemporary Art Cleveland Cleveland, OH | $27,997,238 | $2,174,653 |
Fibre Box Association Itasca, IL | $1,560,987 | $3,611,412 |
Hyde Park Art Center Chicago, IL | $13,112,741 | $7,741,893 |
Glass City Academy Toledo, OH | $3,212,958 | $2,938,051 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,164,198 | $3,254,466 |