Lawrence Arts Center Inc
- Assets
- $5.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 75
- Location
- Lawrence, KS
- Founding
- 11/1975
- Data as of
- 07/2023
- EIN
- 48-0825692
Organization Overview
Lawrence Arts Center Inc is located in Lawrence, KS. The organization was established in 1975. 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 07/2023, Lawrence Arts Center Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lawrence Arts Center 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 07/2023, Lawrence Arts Center Inc generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $3.9m during the year ending 07/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LAWRENCE ARTS CENTER IS TO CREATE MEANINGFUL ARTS EXPERIENCES WITH AND FOR THE COMMUNITY THROUGH EDUCATION, EXHIBITIONS, AND PERFORMANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCE EDUCATIONAL PROGRAMS AND PROJECTS TO CHILDREN AND ADULTS TO ENHANCE THEIR UNDERSTANDING AND APPRECIATION OF THE ARTS AND SUPPORT LOCAL ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Huang Director | Trustee | 1 | $350 |
Whitney Lang Chair | OfficerTrustee | 2 | $0 |
Ryann Galloway Tacha Vice Chair | OfficerTrustee | 1 | $0 |
Stephen Gish Treasurer | OfficerTrustee | 1 | $0 |
Isabel Johnson Secretary | OfficerTrustee | 1 | $0 |
Margie Wakefield Past Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $160,017 |
| Related organizations | $0 |
| Government grants | $105,587 |
| All other contributions, gifts, grants, and similar amounts not included above | $916,237 |
| Noncash contributions included in lines 1a–1f | $129,922 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,181,841 |
| Total Program Service Revenue | $1,702,513 |
| Investment income | $44,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,041 |
| Net Gain/Loss on Asset Sales | $44,580 |
| Net Income from Fundraising Events | -$58,563 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,940,903 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,021 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,330 |
| Compensation of current officers, directors, key employees. | $48,666 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,788,869 |
| Pension plan accruals and contributions | $33,327 |
| Other employee benefits | $154,590 |
| Payroll taxes | $148,342 |
| 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 | $16,517 |
| Fees for services: Other | $152,653 |
| Advertising and promotion | $0 |
| Office expenses | $147,017 |
| Information technology | $113,805 |
| Royalties | $0 |
| Occupancy | $172,681 |
| Travel | $40,011 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,723 |
| Insurance | $0 |
| All other expenses | $32,916 |
| Total functional expenses | $3,857,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,868 |
| Savings and temporary cash investments | $333,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $552,305 |
| 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 | $63,104 |
| Net Land, buildings, and equipment | $3,227,501 |
| Investments—publicly traded securities | $1,573,708 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,941 |
| Total assets | $5,859,481 |
| Accounts payable and accrued expenses | $153,180 |
| 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 | $1,198,341 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,351,521 |
| Net assets without donor restrictions | $3,363,665 |
| Net assets with donor restrictions | $1,144,295 |
| 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 | $5,859,481 |