Lakeland Cultural Arts Center Inc
- Assets
- $212.1k
- Revenue
- $369.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Littleton, NC
- Founding
- 06/1979
- Data as of
- 12/2021
- EIN
- 58-9905702
Organization Overview
Lakeland Cultural Arts Center Inc is located in Littleton, NC. The organization was established in 1979. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Lakeland Cultural Arts Center Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeland Cultural 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 12/2021, Lakeland Cultural Arts Center Inc generated $369.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $229.9k during the year ending 12/2021. 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
PROVIDE CULTURAL ARTS AND ACTIVITIES IN LITTLETON, NC AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CULTURAL ART EDUCATION AND ART EXHIBIT
PROVIDE CULTURAL ART EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Heagren President | OfficerTrustee | $0 | |
James Kinard Vice Preside | OfficerTrustee | $0 | |
John Schaech Secretary | OfficerTrustee | $0 | |
Ed Fitts Director | Trustee | $0 | |
Liz Nielsen Treasuer | Trustee | $0 | |
Joe Dickinson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $84,733 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $284,398 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $369,131 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $369,131 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $169,364 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,358 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,607 |
| Office expenses | $507 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,551 |
| Travel | $144 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,157 |
| Insurance | $5,603 |
| All other expenses | $7,431 |
| Total functional expenses | $229,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,745 |
| 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 | $15,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $251 |
| Total assets | $212,105 |
| Accounts payable and accrued expenses | $705 |
| 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 | $6,637 |
| Total liabilities | $7,342 |
| 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 | $204,763 |
| Total liabilities and net assets/fund balances | $212,105 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lakeland Cultural Arts Center Inc has recieved totaling $10,166.
| Awarding Organization | Amount |
|---|---|
Farrington Foundation Pennington, NJ PURPOSE: GENERAL OPERATING | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $166 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Carolina Performing Arts Center At Charlotte Foundation Charlotte, NC | $47,388,531 | $23,681,356 |
Tennessee Performing Arts Center Management Corporation Nashville, TN | $35,782,071 | $25,885,364 |
Peace Center Foundation Greenville, SC | $99,689,105 | $17,581,209 |
Historic Tennessee Theatre Foundation Knoxville, TN | $32,949,657 | $9,927,493 |
Rivercenter Inc Columbus, GA | $5,489,865 | $4,501,265 |
Belcourt Theatre Inc Nashville, TN | $8,909,570 | $4,044,335 |
Bijou Theater Center Knoxville, TN | $4,966,166 | $3,906,222 |
Zeiders American Dream Theater Virginia Beach, VA | $9,355,099 | $2,062,957 |
Pack Place Performing Arts Asheville, NC | $4,993,053 | $1,808,862 |
Academy Center Of The Arts Inc Lynchburg, VA | $41,266,969 | $2,992,535 |
Richmond Performing Arts Alliance Richmond, VA | $133,538,095 | $2,679,969 |
North Carolina Soybean Producers Raleigh, NC | $5,156,831 | $2,482,483 |