Louisville Visual Art Inc
- Assets
- $3.0m
- Revenue
- $1.8m
- Investments
- $795.0k
- Employees
- 7
- Location
- Louisville, KY
- Founding
- 11/1946
- Data as of
- 05/2022
- EIN
- 61-0492348
Organization Overview
Louisville Visual Art Inc is located in Louisville, KY. The organization was established in 1946. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2022, Louisville Visual Art Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Visual Art 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 05/2022, Louisville Visual Art Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $806.7k during the year ending 05/2022. While expenses have increased by 0.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE LIVES THROUGH VISUAL ARTS EDUCATION, COMMUNITY OUTREACH, AND ARTIST SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A CREATIVE HUB NOW ESTABLISHED IN THE PORTLAND NEIGHBORHOOD, THEY ARE DEDICATED TO ENGAGING AND ENCOURAGING ARTISTS THROUGH PROGRAMMING SUCH AS MAP (MURAL ART PROGRAM), ARTEBELLA, OPEN STUDIO WEEKEND, AND WEEKLY CALLS FOR ARTISTS. LVA IS SHAPING AND INSPIRING THE NEXT GENERATION OF CREATIVE LEADERS BY PROVIDING QUALITY INSTRUCTION ANNUALLY THROUGH CHILDREN'S FINE ART CLASSES AND OUTREACH PROGRAMS IN SCHOOLS AND COMMUNITY CENTERS. LOUISVILLE VISUAL ART AIMS TO ENGAGE, INSPIRE, AND IMPROVE OUR COMMUNITY THROUGH THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristian Anderson Executive Director | Officer | 40 | $85,000 |
Rob King Vice-President | OfficerTrustee | 1 | $0 |
Jake Theisen President | OfficerTrustee | 1 | $0 |
Logan Gholson Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth B Feldpausch Secretary | OfficerTrustee | 1 | $0 |
Don Cartwright Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,040 |
| Fundraising events | $44,303 |
| Related organizations | $0 |
| Government grants | $23,650 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,301,721 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,372,714 |
| Total Program Service Revenue | $364,547 |
| Investment income | $18,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $13,028 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,768,956 |
| 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. | $93,364 |
| Compensation of current officers, directors, key employees. | $17,459 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $238,745 |
| Pension plan accruals and contributions | $5,467 |
| Other employee benefits | $58,765 |
| Payroll taxes | $28,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,388 |
| Advertising and promotion | $0 |
| Office expenses | $18,672 |
| Information technology | $8,032 |
| Royalties | $0 |
| Occupancy | $43,284 |
| Travel | $2,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,896 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,972 |
| Insurance | $10,831 |
| All other expenses | $0 |
| Total functional expenses | $806,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $905,057 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $662,635 |
| Accounts receivable, net | $14,500 |
| 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 | $569,675 |
| Investments—publicly traded securities | $21,456 |
| Investments—other securities | $794,986 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,968,309 |
| Accounts payable and accrued expenses | $20,268 |
| Grants payable | $0 |
| Deferred revenue | $49,106 |
| 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 | $224,372 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $293,746 |
| Net assets without donor restrictions | $571,826 |
| Net assets with donor restrictions | $2,102,737 |
| 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 | $2,968,309 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Louisville Visual Art Inc has recieved totaling $183,015.
| Awarding Organization | Amount |
|---|---|
Fund For The Arts Inc Louisville, KY PURPOSE: Capital Grant, Arts in Learning, Sustaining Impact Grant, Partnership Grants | $147,145 |
Clark Family Foundation Inc Naples, FL PURPOSE: TO DEVELOP ONLINE BADGING SYSTEM, TO TRACK ACHIEVEMENTS AND MATERY OF TECHNIQUES | $20,000 |
Gheens Foundation Inc Louisville, KY PURPOSE: ARTIST RESOURCES SERIES, ADULT FIGURE DRAWING, MURAL ART PROGRAM, CHILDREN'S FINE ART CLASSES, THE ACADEMY OF LVA, SUMMER ART CAMP | $15,000 |
Great Meadows Foundation Inc Louisville, KY PURPOSE: GRANT AWARD TO LOCAL ARTIST | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $120 |
Endowment Analysis
| Beg. Balance | $882,576 |
| Earnings | -$83,984 |
| Other Expense | $3,606 |
| Ending Balance | $794,986 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Architecture Foundation Chicago, IL | $18,456,323 | $14,699,492 |
Painting Industry Insurance Fund Strongsville, OH | $10,051,774 | $13,147,287 |
Frist Art Museum Nashville, TN | $27,247,403 | $12,277,490 |
The American Ceramic Society Inc Westerville, OH | $14,880,081 | $7,163,335 |
Textile Rental Services Association Of America Inc Alexandria, VA | $12,660,390 | $5,781,606 |
Fenestration And Glazing Industry Alliance Schaumburg, IL | $6,384,205 | $4,966,632 |
Museum Of Contemporary Art Cleveland Cleveland, OH | $27,997,238 | $2,174,653 |
Fibre Box Association Itasca, IL | $1,560,987 | $3,611,412 |
Hyde Park Art Center Chicago, IL | $13,112,741 | $7,741,893 |
Glass City Academy Toledo, OH | $3,212,958 | $2,938,051 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,164,198 | $3,254,466 |