Louisville Third Century Inc

Organization Overview

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.

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


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Board, Officers & Key Employees

Name (title)Compensation
Lawrence W Jones
President
$82,054
Name Not Listed
Vice Preside
$66,726
Margaret Buschermohle
Secretary
$37,972
Michael Grieser
Board Of Dir
$12,125
Thomas Schiess
Treasurer
$0
Dana Buschermohle
Board Of Dir
$0

Financial Statements

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

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