Art Museum Of Greater Lafayette Inc
- Assets
- $649.4k
- Revenue
- $470.0k
- Investments
- $0.0
- Employees
- 10
- Location
- Lafayette, IN
- Founding
- 03/1952
- Data as of
- 06/2021
- EIN
- 35-0828754
Organization Overview
Art Museum Of Greater Lafayette Inc is located in Lafayette, IN. The organization was established in 1952. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Art Museum Of Greater Lafayette Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Art Museum Of Greater Lafayette 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 06/2021, Art Museum Of Greater Lafayette Inc generated $470.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $407.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A CENTER OF ART IN LAFAYETTE, INDIANA TO PROMOTE, FOSTER, AND ENCOURAGE INTEREST IN ART IN THE COMMUNITY THROUGH ART COLLECTIONS, EXHIBITIONS, LECTURES, INSTRUCTION, AND SOCIAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUISITION, EXHIBITIONS, PRESERVATION OF WORKS OF ART, AND ART EDUCATION THROUGH VARIOUS CLASSES AND PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kendall Smith II Executive Di | OfficerTrustee | 40 | $84,048 |
Lorie Amick President | OfficerTrustee | 1 | $0 |
Brittany Jones Treasurer | OfficerTrustee | 1 | $0 |
Judith Austin Secretary | OfficerTrustee | 1 | $0 |
Barry Loftus Vice Preside | OfficerTrustee | 1 | $0 |
Kay Conner Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $106,209 |
| Fundraising events | $39,364 |
| Related organizations | $0 |
| Government grants | $73,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $179,158 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,368 |
| Total Program Service Revenue | $30,845 |
| Investment income | $1,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,843 |
| Net Income from Fundraising Events | $23,186 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,627 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,018 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100 |
| 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. | $84,048 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,072 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,480 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $685 |
| Advertising and promotion | $6,633 |
| Office expenses | $27,770 |
| Information technology | $1,886 |
| Royalties | $0 |
| Occupancy | $40,075 |
| Travel | $2,712 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,060 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,628 |
| Insurance | $15,666 |
| All other expenses | $11,008 |
| Total functional expenses | $406,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $309,733 |
| Savings and temporary cash investments | $122,803 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,964 |
| 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 | $5,642 |
| Net Land, buildings, and equipment | $205,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,592 |
| Total assets | $649,391 |
| Accounts payable and accrued expenses | $2,081 |
| Grants payable | $0 |
| Deferred revenue | $11,996 |
| 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 | $44,700 |
| Other liabilities | $1,078 |
| Total liabilities | $59,855 |
| Net assets without donor restrictions | $535,638 |
| Net assets with donor restrictions | $53,898 |
| 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 | $649,391 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Art Museum Of Greater Lafayette Inc has recieved totaling $49,030.
| Awarding Organization | Amount |
|---|---|
Greater Lafayette Community Foundation Lafayette, IN PURPOSE: MISSION/TECHNOLOGY | $43,978 |
Indiana University Health Arnett Inc Indianapolis, IN PURPOSE: General support | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $52 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indianapolis Museum Of Art Inc Indianapolis, IN | $570,410,766 | $52,226,027 |
Nelson Gallery Foundation Kansas City, MO | $610,782,059 | $25,702,378 |
Museum Of Contemporary Art Chicago, IL | $199,455,132 | $15,185,579 |
Milwaukee Art Museum Inc Milwaukee, WI | $162,007,595 | $17,721,477 |
J B Speed Art Museum Louisville, KY | $144,061,757 | $14,473,949 |
Jayne Wrightsman Irr Trust Xxxxx7008 Chicago, IL | $23,809,573 | $29,559,094 |
Kemper Museum Operating Foundation Kansas City, MO | $21,285,156 | $4,170,305 |
Madison Museum Of Contemporary Art Inc Madison, WI | $15,382,994 | $2,302,239 |
Fort Wayne Museum Of Art Inc Fort Wayne, IN | $14,143,825 | $4,976,518 |
Paine Art Center & Gardens Inc Oshkosh, WI | $23,894,891 | $2,871,435 |
Racine Art Museum Association Inc Racine, WI | $13,099,169 | $1,971,714 |
Springfield Art Association Of Edwards Place Springfield, IL | $2,184,986 | $1,710,598 |