Lakes Area Music Festival
- Assets
- $288.5k
- Revenue
- $699.5k
- Investments
- $0.0
- Employees
- 8
- Location
- Brainerd, MN
- Founding
- 04/2013
- Data as of
- 09/2021
- EIN
- 45-4807315
Organization Overview
Lakes Area Music Festival is located in Brainerd, MN. The organization was established in 2013. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Lakes Area Music Festival employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakes Area Music Festival 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 09/2021, Lakes Area Music Festival generated $699.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $592.9k during the year ending 09/2021. While expenses have increased by 9.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
THE LAKES AREA MUSIC FESTIVAL CONNECTS THE NATIONS BEST PERFORMERS AND AUDIENCES THROUGH EXCELLENT CLASSICAL MUSIC AND INSPIRING EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSICAL MUSIC CONCERTS OFFERED WITH RADICAL HOSPITALITY AND NO SET TICKET PRICEFESTIVAL CONCERT SERIES CONCERTS OVER A THREE WEEK PERIODALL CONCERTS WERE PERFORMED LIVE AND PRESENTED VIRTUALLY. 7500 VIEWS PLUS 3800 VIEWS ON THE PRECONCERT LECTURES. CONCERT SERIES WAS CANCELLED AFTER SIX CONCERTS DUE TO COVID
OFF SEASON CONCERTS :WINTER SERIES 4 CONCERTS PRODUCED AND PRESENTED VIRTUALLY ON FACEBOOK AND YOUTUBE, ATTENDANCE ALL CONCERTS VIRTUAL DUE TO COVID. 10,500 CONCERT VIEWS PLUS 2800 ATTENDEES OF EDUCATIONAL LECTURES
YOUTH EXPLORE MUSIC PROGRAM - 3 INSTRUCTORS TAUGHT 55 K-5 STUDENTS IN PERSON FOR WEEKLONG DAYCAMP. MUSIC MENTORS PROJECT PARTNERED WITH LOCAL HIGH SCHOOL MUSIC PROGRAMS TO PRODUCE 35 INSTRUCTIONAL VIDEOS AND 10 DISTANCE LEARNING ACTIVITIES SERVING 980 STUDENT MUSICIANS
SPECIAL EVENTS OUTSIDE OF THE FESTIVALROAD TRIPS TO CONCERTS IN MINNEAPOLIS OUTSIDE CONCERT AT YACHT CLUB 0 ATTENDEDPROGRAM CONTINUES BUT NOT HELD IN 20 21 DUE TO COVID
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Lykins Artistic And Exec Director | Officer | 40 | $69,250 |
Leslie Zander Vice President | Officer | 2 | $0 |
Mary Farmer Treasurer | Officer | 10 | $0 |
David Boran President | Officer | 10 | $0 |
Karen Ford Secretary | Officer | 3 | $0 |
Cynthia Janes Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $598,089 |
| Investment income | $79 |
| 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 | $699,532 |
| Statement of Expenses | |
|---|---|
| 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. | $69,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,947 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,995 |
| 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 | $6,528 |
| Office expenses | $7,127 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,092 |
| Travel | $73,538 |
| 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 | $2,702 |
| All other expenses | $0 |
| Total functional expenses | $592,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,627 |
| Savings and temporary cash investments | $58,440 |
| 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 | $1,472 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $288,539 |
| Accounts payable and accrued expenses | -$5,305 |
| 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 | $77,990 |
| Other liabilities | $0 |
| Total liabilities | $72,685 |
| 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 |
| Total liabilities and net assets/fund balances | $215,854 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Lakes Area Music Festival has recieved totaling $55,779.
| Awarding Organization | Amount |
|---|---|
Five Wings Arts Council Staples, MN PURPOSE: PROJECTS | $35,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $10,500 |
Communitygiving St Cloud, MN PURPOSE: GEN/OPER SUPPORT | $8,250 |
Happy Dancing Turtle Pine River, MN PURPOSE: MUSIC FESTIVAL CO-SPONSORSHIP | $1,000 |
Fletcher Family Foundation Edina, MN PURPOSE: GENERAL PURPOSES | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $29 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa County Recorders Association Ottumwa, IA | $2,929,223 | $39,789,803 |
Milwaukee World Festival Inc Milwaukee, WI | $107,459,917 | $5,773,948 |
The Schubert Club St Paul, MN | $22,801,473 | $4,063,918 |
Minnetonka Youth Hockey Association Minnetonka, MN | $11,192,985 | $2,520,815 |
Vocalessence Minneapolis, MN | $7,433,658 | $2,557,414 |
Osseo-Maple Grove Youth Hockey Association Osseo, MN | $2,211,214 | $2,250,377 |
American Composers Forum St Paul, MN | $9,023,516 | $1,393,403 |
Lutheran Music Program Minneapolis, MN | $2,920,609 | $1,763,933 |
Saturday In The Park Inc Sioux City, IA | $111,911 | $911,266 |
Birch Creek Music Performance Center Inc Egg Harbor, WI | $4,670,702 | $1,564,605 |
Quad City Symphony Tr Davenport, IA | $15,204,035 | $748,751 |
Shellabration Inc Fort Dodge, IA | $122,265 | $523,549 |