Lotus Education And Arts Foundation Inc
- Assets
- $691.2k
- Revenue
- $372.9k
- Investments
- $0.0
- Employees
- 8
- Location
- Bloomington, IN
- Founding
- 05/1995
- Data as of
- 12/2020
- EIN
- 35-1941942
Organization Overview
Lotus Education And Arts Foundation Inc is located in Bloomington, IN. The organization was established in 1995. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Lotus Education And Arts Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lotus Education And Arts Foundation 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 12/2020, Lotus Education And Arts Foundation Inc generated $372.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $279.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (6.6%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
STIMULATE AND PROMOTE INTEREST IN GLOBAL AND INTERNATIONAL MUSIC, DANCE AND ART ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT MUSIC AND ART ACTIVITIES. ACHIEVEMENTS INCLUDE BRINGING LIVE, GLOBAL ARTS EVENTS TO THE COMMUNITY, SHOWCASING TALENT AND BRINGING TOGETHER LOCAL PARTICIPATION IN ALL ASPECTS OF PRODUCTION. CLIENTS SERVED=10,000. DONATED SERV=$44,000. DONATED PERSONAL TIME/SERVICES=$100,000
PROVIDE FACILITIES FOR MUSIC AND ART ACTIVITIES. ACHIEVENENTS INCLUDE PROVIDING EXPERTISE AND NETWORKING CONTACTS WITH OTHER PRESENTERS AND SITES IN THE LOCAL COMMUNITY AND MIDWEST IN GENERAL. CLIENTS SERVED=150. DONATED SERV=$ -0-
PROVIDE MUSIC AND ART EDUCATION. ACHIEVEMENTS INCLUDE BRINGING ARTS TO THE LOCAL SCHOOLS AND LOCAL CHILDREN THROUGH CHILDREN ORIENTED PROGRAMING. CLIENTS SERVED=9,000. DONATED SERV=$ -0-
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tamara Loewenthal Exec Dir | 40 | $54,385 | |
Andy Qualls Secy | OfficerTrustee | 1 | $0 |
Jennifer Riley Simone Chair | OfficerTrustee | 1 | $0 |
Heidi Harmon Treas | OfficerTrustee | 1 | $0 |
Peg Stice Vice Chair | OfficerTrustee | 1 | $0 |
Geoffrey Bradley Board | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $94,939 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,675 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $330,614 |
| Total Program Service Revenue | $12,445 |
| Investment income | $29,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,165 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$874 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $372,902 |
| 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. | $51,500 |
| Compensation of current officers, directors, key employees. | $51,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,619 |
| Payroll taxes | $16,184 |
| 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 | $16,543 |
| Advertising and promotion | $150 |
| Office expenses | $14,742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,908 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $402 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,195 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $279,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $332,939 |
| 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 | $198,881 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,346 |
| Total assets | $691,166 |
| Accounts payable and accrued expenses | $4,729 |
| 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 | $4,729 |
| 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 | $686,437 |
| Total liabilities and net assets/fund balances | $691,166 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Lotus Education And Arts Foundation Inc has recieved totaling $35,924.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Bloomington And Monroe County Inc Bloomington, IN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $32,805 |
Houston Family Foundation Armonk, NY PURPOSE: LOTUS-FITZGERALD ENDOWMENT FUND | $2,000 |
The Baxter Foundation Deerfield, IL PURPOSE: MATCHING GIFTS GRANT | $500 |
The Baxter Foundation Deerfield, IL PURPOSE: MATCHING GIFTS GRANT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $119 |
Endowment Analysis
| Beg. Balance | $50,889 |
| Earnings | -$19,479 |
| Other Expense | $31,410 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Michael Kohler Arts Center Inc Sheboygan, WI | $91,886,755 | $7,533,321 |
Puerto Rican Cultural Center Chicago, IL | $9,175,566 | $9,769,703 |
United States Artists Inc Chicago, IL | $40,639,117 | $6,830,121 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Bertha D Garten Ketcham Memorial Center Inc Odon, IN | $9,035,091 | $6,675,118 |
Kohler Trust For The Arts And Education Kohler, WI | $9,068,772 | $5,585,156 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
The Center For The Performing Arts Inc Carmel, IN | $11,269,434 | $4,631,898 |
American College Of Occupational And Environmental Medicine Elk Grove Village, IL | $5,115,240 | $3,683,433 |
Winnetka Community House Winnetka, IL | $15,269,238 | $4,423,430 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Milwaukee County War Memorial Inc Milwaukee, WI | $14,315,972 | $2,406,675 |