Louisville Third Century Inc is located in Louisville, KY. The organization was established in 1990. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Louisville Third Century Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Third Century 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, Louisville Third Century Inc generated $391.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $313.8k 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
TO ACT AS A CATALYST FOR OTHER NON PROFIT ORGANIZATIONS BY PROVIDING FUNDS OR SERVICES ADDRESSING CIVIC, CULTURAL, AND EDUCATIONAL ISSUES AFFECTING THE QUALITY OF LIFE THROUGHOUT GREATER LOUISVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021 HAS PROVED TO BE A MOST INTERESTING YEAR, IF NOT THE MOST CRITICAL IN THE 30+ YEAR HISTORY OF THE ORGANIZATION. DESPITE SOME DIRECT ACCOMPLISHMENTS ARISING OUT OF OUR DRAGONBOAT FESTIVAL, (THE GIFTING OF A DRAGON BOAT, AND THE EMERGENCE OF THE 502 DRAGONS AS A PERMANENT TEAM ENTITY, NOT JUST AN ANNUAL ASSOCIATION) THE BOARD WAS LOOKING DIRECTLY AT THE VERY REAL POSSIBILITY OF DISSOLUTION. THE LINGERING EFFECTS FROM THE TWIN BLOWS OF THE PANDEMIC-INDUCED ECONOMIC SLOWDOWN AND CIVIC TENSIONS SURROUNDING THE CONTINUING BREONNA TAYLOR CASE PRESENTED AN UNPRECEDENTED CHALLENGE: TO RESPONSIBLY PRODUCE A FREE-TO-THE-PUBLIC EVENT, SAFELY AND PROFITABLY AS WE HAD DONE IN PRE-PANDEMIC YEARS. PRIOR TO 2020 "SAFELY" MEANT NO ONE JUMPED IN THE RIVER, THE FIREWORKS SHOW WENT OFF WITHOUT INCIDENT, OR NO ONE GOT HIT BY AN ERRANT PADDLE STROKE. NOW, GIVEN THE AFOREMENTIONED "TWIN BLOWS", SAFELY HAS COME TO MEAN SOMETHING ELSE ENTIRELY. VIRTUALLY EVERY PERSON SURVEYED BY OUR BOARD VOICED NEGATIVE FEEDBACK CONCERNING, CROWDS AND CRIME; GOING "DOWNTOWN", THE POTENTIAL FOR "SOMETHING" TO HAPPEN AT OR AROUND LARGE PUBLIC EVENTS. AND NO DOUBT MONEY FOR "ENTERTAINMENT" WAS TIGHTER. SIMILARLY, MANY, IF NOT ALL, OF OUR TRADITIONAL SPONSORS ARE STILL THEMSELVES RE-APPROPRIATING BUDGETS INTO REBUILDING AND RECOVERY WITH SHRINKING "DISCRETIONARY" MONIES TO SPEND. OFTEN THESE ARE THE SOURCES FROM WHICH WE TRADITIONALLY RECEIVE ASSISTANCE, CASH OR IN-KIND. COMPETITION FOR DWINDLING RESOURCES MEANT THE RETURN ON INVESTMENT FOR SPONSORSHIP OUTLAYS WOULD NEED TO BE EXCEPTIONAL - A PROJECTED PLEDGE WHICH WE IN ALL GOOD FAITH COULD NOT NECESSARILY GUARANTEE. STILL THE BOARD DOES RETAIN SOME OPTIMISM; WE ARE NOT TOTALLY FORLORN. LIKE OUR PHOENIX FRIEND WE CAN MAKE A COMEBACK. TO THIS END IN 2021 THE BOARD RESOLVED TO 1.) SECURE THE ORGANIZATION IN STRUCTURE, FINANCE AND CIVIC STANDING; AND 2.) TO EXPAND OUR FUNDRAISING, LIMIT OUR PROGRAM ACTIVITIES TO SOLELY "GIFTING" IN 2021, WITH AN EYE TOWARD INCREASED GIVING IN 2022; AND HOPEFULLY, A RETURN, TO SOME EVENT-BASED PROGRAMS IN 2023. THIS PLAN WILL PERMIT US TO REBUILD OUR COFFERS SO WE MIGHT HAVE AN OPTION TO DO THAT "SOMETHING"- WHETHER IT BE AN EVENT, OR A COMMITTEE-BASED PROGRAM OR MAYBE LOUISVILLE THIRD CENTURY WILL EMERGE ENTIRELY DIFFERENT: OUR NEW NORMAL - NEW MISSIONS, NEW STAFF, VOLUNTEERS, AND IDEAS. WE HAVE AND NEED MORE NEW PEOPLE. AND SO, WE LOOK TO THE FUTURE. LOUISVILLE'S THIRD CENTURY. FMV DRAGONBOAT, TRAILER AND ACCESSORIES: 12,500.00
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lawrence W Jones President | OfficerTrustee | 10 | $82,054 |
Name Not Listed Vice Preside | OfficerTrustee | 10 | $66,726 |
Margaret Buschermohle Secretary | OfficerTrustee | 10 | $37,972 |
Michael Grieser Board Of Dir | Trustee | 10 | $12,125 |
Thomas Schiess Treasurer | OfficerTrustee | 10 | $0 |
Dana Buschermohle Board Of Dir | Trustee | 10 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $56,650 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $56,650 |
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 | $334,682 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $391,332 |
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. | $186,753 |
Compensation of current officers, directors, key employees. | $56,026 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $59,391 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $2,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $3,016 |
Advertising and promotion | $0 |
Office expenses | $163 |
Information technology | $1,018 |
Royalties | $0 |
Occupancy | $11,491 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $660 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,823 |
Insurance | $23,831 |
All other expenses | $0 |
Total functional expenses | $313,753 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $181,915 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $15,384 |
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 | $1,500 |
Net Land, buildings, and equipment | $342 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $199,141 |
Accounts payable and accrued expenses | $16,228 |
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 | $44,092 |
Other liabilities | $0 |
Total liabilities | $60,320 |
Net assets without donor restrictions | $138,821 |
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 | $0 |
Total liabilities and net assets/fund balances | $199,141 |
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