Lizzadro Museum Of Lapidary Arts
- Assets
- $4.0m
- Revenue
- $698.5k
- Investments
- $1.1m
- Employees
- 10
- Location
- Oak Brook, IL
- Founding
- 05/1964
- Data as of
- 12/2022
- EIN
- 36-2487600
Organization Overview
Lizzadro Museum Of Lapidary Arts is located in Oak Brook, IL. The organization was established in 1964. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Lizzadro Museum Of Lapidary Arts employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lizzadro Museum Of Lapidary Arts 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 12/2022, Lizzadro Museum Of Lapidary Arts generated $698.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $515.5k during the year ending 12/2022. 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
THE LIZZADRO MUSEUM OF LAPIDARY ARTS PRIMARY EXEMPT PURPOSE IS TO OPERATE A MUSEUM OF ART FOR THE COLLECTION CARE STUDY AND EXHIBITION OF PRECIOUS AND NON-PRECIOUS GEM CERAMICS AND OTHER OBJECTS OF ART AND THE EDUCATION OF THE PUBLIC WITH REFERENCE THE MUSEUM'S ART COLLECTION WHICH CONSISTS OF GEMSTONES DIORAMA'S JADE CARVINGS AND VARIOUS ROCK MINERALS AND FOSSILS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION OF THE LAPIDARY ART THROUGH SPECIAL PROGRAMS ON THE HISTORY AND MAKE UP OF THE MUSEUM. OVER 37,589 CHILDREN AND AUDLTS VISTED THE MUSEUM THIS YEAR ON SITE OR THROUGH VIRTUAL PROGRAMMING. EVERY WEDNESDAY IS FREE ADMISSION. THE MUSEUM COLLABORATES WITH COMMUNITY ORGANIZATIONS TO PROVIDE CULTURAL AND EDUCATIONAL PROGRAMS FOR THE PUBLIC. ALSO THE MUSEUM DISPLAYED 2 TEMPORARY SPECIAL EXHIBITS: THE FIRST: THE ARTFUL SOUL OF FAUST WHICH EXHIBITED FOURTEEN LARGE CAMEOS DEPICTING THE STORY OF FAUST FROM GERMANY OCTOBER 12 2021 THROUGH JUNE 19 2022. THE SECOND: ON THE CUTTING EDGE: CONTEMPORARY GEMSTONE SCULPTURE FEATURING TEN AMERICAN ARTISTS OCTOBER 4 2022 THROUGH JANUARY 22 2023.
THE MUSEUM STAFF OPERATES A GIFT SHOP AT THE MUSEUM'S FACILITY WHICH AFFORDS VISITORS THE OPPORTUNITY TO PURCHASE BOOKS LITERATURE AND LAPIDARY REPLICAS. THE GIFT SHOP'S INVENTORY OF LAPIDARY SPECIMENS CONSISTS PRIMARILY OF LOW PRICES ITEMS WHICH ARE REPRESENTATIVE FACSIMILIES OF THE LAPIDARY AND RELATED ART OBJECTS DISPLATED AT THE MUSEUM. THE PRIMARY PURPOSE OF THE GIFT SHOP FACILITY IS CONSISTENT WITH THE UNDERLYING EXEMPT PURPOSE OF THE MUSEUM AND THUS IS CHARACTERIZED AS RELATED BUSINESS INCOME FOR PURPOSES OF THE MUSEUM'S REPORTING REQUIREMENTS SEE SECTION 513 OF INTERNAL REVENUE CODE OF 1954 AS AMENDED AND THE REGULATIONS PROMULATED THEREUNDER.
TOURS AND EDUCATIONAL PROGRAMS - THE MUSEUM HELD 43 ON-SITE WEEKEND PROGRAMS OF EDUCATIONAL SUBJECTS REALTED TO ROCKS AND MINERALS AND LIVE COMMUNITY MUSIC PROGRAMS. LECTURES AND ACTIVITIES PERTAINING TO THE CHINESE COLLECTION AND EARTH SCIENCE PROGRAMS ARE USUALLY RECORDED AND POSTED TO OUR WEBSITE'S YOUTUBE CHANNEL GENERATING ADDITIONAL VIEW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John S Lizzadro Sr President And Director | OfficerTrustee | 0 | $0 |
Martin Hare Director | Trustee | 0 | $0 |
Joseph F Lizzadro Secretary And Director | OfficerTrustee | 0 | $0 |
John Nicholas Director | Trustee | 0 | $0 |
Gina Nicholas Director | Trustee | 0 | $0 |
John S Lizzadro Jr Vice Pres And Director | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,270 |
| Fundraising events | $0 |
| Related organizations | $90,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $315,776 |
| Noncash contributions included in lines 1a–1f | $72,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $424,046 |
| Total Program Service Revenue | $114,447 |
| Investment income | $13,266 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,901 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $144,860 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $698,520 |
| 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 | $62,639 |
| Pension plan accruals and contributions | $2,997 |
| Other employee benefits | $0 |
| Payroll taxes | $4,821 |
| Fees for services: Management | $110,903 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,425 |
| Advertising and promotion | $57,096 |
| Office expenses | $8,909 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,073 |
| 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 | $76,666 |
| Insurance | $4,771 |
| All other expenses | $32,467 |
| Total functional expenses | $515,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,263 |
| Savings and temporary cash investments | $292,598 |
| 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 | $152,306 |
| Prepaid expenses and deferred charges | $1,046 |
| Net Land, buildings, and equipment | $2,267,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,131,431 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,743 |
| Total assets | $4,008,677 |
| Accounts payable and accrued expenses | $19,562 |
| 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 | $19,562 |
| Net assets without donor restrictions | $1,424,029 |
| Net assets with donor restrictions | $2,565,086 |
| 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 | $4,008,677 |