Living Arts & Science Center Inc
- Assets
- $4.7m
- Revenue
- $645.3k
- Investments
- $192.2k
- Employees
- 27
- Location
- Lexington, KY
- Founding
- 04/1969
- Data as of
- 06/2022
- EIN
- 61-0675663
Organization Overview
Living Arts & Science Center Inc is located in Lexington, KY. The organization was established in 1969. According to its NTEE Classification (A52) the organization is classified as: Children's Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Living Arts & Science Center Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Living Arts & Science 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 06/2022, Living Arts & Science Center Inc generated $645.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $793.0k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRE PARTICIPATION IN THE ARTS AND SCIENCES BY ENGAGING THE COMMUNITY.
Describe the Organization's Program Activity:
SUMMER CAMPS:WATCH CREATIVITY GROW WITH WEEK-LONG SUMMER CAMPS FOR KIDS PRE-K TO HIGH-SCHOOL. STUDENTS HAVE THE OPPORTUNITY TO IMMERSE THEMSELVES IN AN AMAZING VARIETY OF CLASSES. VIRTUAL CLASSES:ONLINE FREE OPPORTUNITIES AND TUITION OPPORTUNITIES. FUN AND LEARNING IS STILL VERY MUCH HAPPENING AT THE LASC. STUDENTS PRE-SCHOOL THROUGH ADULT CAN ENJOY ONLINE CLASSES AND VIDEOS THAT SPARK THEIR IMAGINATION IN A FUN, INSPIRING, ACCESSIBLE AND SAFE WITH FIRST-CLASS INSTRUCTION. SPRING BREAK CAMPS:STUDENTS HAVE THE OPPORTUNITY TO IMMERSE THEMSELVES IN AN AMAZING VARIETY OF IN PERSON CLASSES. LUNCH PERIOD IS INCLUDED FOR STUDENTS, BYOL (BRING YOUR OWN LUNCH). FREE TIME PROVIDED OUTDOORS WHEN WEATHER PERMITS. AFTERCARE AVAILABLE. 2021-2022 DISCOVERY EXHIBIT: THE SCIENCE OF COLOR AND LIGHT:THE SCIENCE OF COLOR & LIGHT IS LASC'S NEWEST DISCOVERY EXHIBIT WHERE CURIOUS MINDS CAN EXPLORE THE SCIENCE BEHIND THE WORLD WE SEE. GUESTS WILL HAVE THE OPPORTUNITY TO EXPERIMENT WITH HANDS-ON ACTIVITIES, EXAMINE SHADOWS AND COLOR MIXING WHILE EXPLORING OUR COLOR SHADOW WALL, AND LEARN ABOUT INFRARED IMAGING! WATCH COLORS CHANGE WITH BREAKING WHITE LIGHT INTO A COLORFUL RAINBOW AND TINKER WITH 3D PRINTED OBJECTS. PARTICIPANTS WILL ALSO GET THE CHANCE TO MANIPULATE LIGHT AND SHADOWS AND EVEN TRY YOUR HAND AT COLOR MIXING! MOOSNICK MAKERSPACE:INSPIRES CREATIVITY, CONNECTS COMMUNITY AND FACILITATES COLLABORATION THROUGH MULTI-DISCIPLINARY AND EVER EVOLVING ACTIVITIES FOR FAMILIES AND CHILDREN 6 AND UNDER. COMBINING PRINCIPALS OF ART AND SCIENCE, THE MAKER SPACE PROVIDES A "ZONE" FOR SELF-DIRECTED LEARNING, COLLABORATION AND INTERGENERATIONAL EXCHANGES THROUGH AN OPEN CONCEPT OF SHARING MATERIALS AND IDEAS AND ADDING ON TO WHAT WAS CREATED BEFORE. WITH A VARIETY OF ROTATING ACTIVITY BINS, AS WELL AS FACILITATED ACTIVITIES, GUESTS WILL ENJOY BUILDING, CREATING, DESIGNING, EXPERIMENTING, WIRING, ANIMATING, AND REPURPOSING A HOST OF INTERESTING MATERIALS! ACTIVITIES OFTEN PROVIDE DEEPER LEARNING EXPERIENCES RELATED TO CURRENT EXHIBITS OR PROGRAMS AT THE LASC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Halligan Executive Director | Officer | 40 | $72,000 |
John Spires President And Director | OfficerTrustee | 1 | $0 |
Kevin Kitchin Treasurer And Director | OfficerTrustee | 1 | $0 |
Anna Claire Skinner Secretary And Director | OfficerTrustee | 1 | $0 |
Dana Adamson Director | Trustee | 0.5 | $0 |
Bart Hufnagel Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,000 |
| Related organizations | $0 |
| Government grants | $194,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $289,869 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $487,425 |
| Total Program Service Revenue | $157,911 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$395 |
| 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 | $396 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $645,337 |
| 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. | $72,000 |
| Compensation of current officers, directors, key employees. | $25,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $296,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,054 |
| Payroll taxes | $28,805 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,043 |
| Advertising and promotion | $4,003 |
| Office expenses | $24,056 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,556 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,302 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,340 |
| Insurance | $15,179 |
| All other expenses | $0 |
| Total functional expenses | $792,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,923 |
| Savings and temporary cash investments | $35,051 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,222 |
| 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 | $3,608 |
| Net Land, buildings, and equipment | $4,181,879 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $192,157 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,687,840 |
| Accounts payable and accrued expenses | $34,101 |
| Grants payable | $0 |
| Deferred revenue | $49,440 |
| 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 | $42,160 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $125,701 |
| Net assets without donor restrictions | $4,369,982 |
| Net assets with donor restrictions | $192,157 |
| 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 | $4,687,840 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Living Arts & Science Center Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: FOR THE CENTER'S PURPOSE OF PROVIDING CREATIVE AND UNIQUE OPPORTUNITIES FOR EXPLORATION AND EDUCATION IN THE ARTS AND SCIENCES | | $5,000 |
Endowment Analysis
| Beg. Balance | $205,336 |
| Earnings | -$17,145 |
| Admin Expense | $1,059 |
| Net Contributions | $5,025 |
| Ending Balance | $192,157 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Museum Of Indianapolis Incorporated Indianapolis, IN | $487,243,633 | $55,187,916 |
Magic House St Louis, MO | $33,104,106 | $8,688,118 |
Chicago Childrens Museum Chicago, IL | $15,510,919 | $8,503,985 |
Childrens Museum Of Memphis Memphis, TN | $13,720,336 | $2,454,911 |
Creative Discovery Museum Chattanooga, TN | $21,187,184 | $5,712,908 |
Kohl Childrens Museum Of Greater Chicago Inc Glenview, IL | $19,595,160 | $2,484,089 |
Northern Virginia Science Center Foundation Fairfax, VA | $12,837,527 | $5,104,096 |
Dupage Childrens Museum Naperville, IL | $4,350,291 | $2,458,475 |
Childrens Museum Of Richmond Richmond, VA | $8,094,641 | $4,347,352 |
Association Of Childrens Museums Inc Arlington, VA | $3,950,433 | $4,135,274 |
Discovery Center Museum Of Rockford Inc Rockford, IL | $3,899,428 | $2,144,571 |
Amazement Square Lynchburg, VA | $7,800,718 | $1,033,755 |