Lexarts Inc
- Assets
- $1.3m
- Revenue
- $1.5m
- Investments
- $87.6k
- Employees
- 14
- Location
- Lexington, KY
- Founding
- 04/1985
- Data as of
- 06/2020
- EIN
- 61-1163184
Organization Overview
Lexarts Inc is located in Lexington, KY. The organization was established in 1985. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Lexarts Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexarts 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 06/2020, Lexarts Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lexarts Inc has awarded 96 individual grants totaling $4,059,250. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ARTS AND CULTURAL SERVICES TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEXARTS REGRANTS FUNDS RAISED THROUGH ITS ANNUAL FUND FOR THE ARTS TO FIVE PARTNER ORGANIZATIONS THAT RECEIVE GENERAL OPERATING SUPPORT (GOS) AND 20+ ARTS ORGANIZATIONS IN THE FORM OF PROGRAM AND PROJECT GRANTS. THE APPLICATION PROCESSES FOR THESE GRANTS ARE RIGOROUS, REQUIRING EVIDENCE OF FINANCIAL STABILITY AND ARTISTIC QUALITY. SERVICE TO YOUTH, DIVERSE AND UNDERSERVED AUDIENCES IS EMPHASIZED AS ARE AUDIENCE SIZE, COMMUNITY PARTICIPATION, COLLABORATION, AND EVALUATION. WRITTEN APPLICATIONS AND FINANCIAL INFORMATION ARE VETTED BY LEXARTS STAFF, EVALUATED ON PAPER AND IN AN OPEN PUBLIC PROCESS BY A PANEL OF PEER REVIEWERS, FURTHER REVIEWED BY THE GRANTS COMMITTEE OF THE LEXARTS BOARD OF DIRECTORS AND FINALLY APPROVED BY THE LEXARTS BOARD AS A WHOLE.
AS BOTH THE ARTS COUNCIL AND UNITED ARTS FUND FOR CENTRAL KENTUCKY, LEXARTS PROVIDES A WIDE RANGE OF PROGRAMS AND SERVICES DESIGNED TO INTEGRATE THE ARTS INTO THE DAILY LIVES OF ALL CITIZENS, INCLUDING THE FREE LEXARTS GALLERY HOP, LEXINGTON YOUTH ARTS COUNCIL, AND ARTSCOPE WEEKLY EMAIL ARTS CALENDAR. LEXARTS STAFF AND BOARD WORK CLOSELY WITH COMMUNITY LEADERS ON PUBLIC ART PROJECTS IN OBTAINING FUNDING, DEVELOPING PLANS, SOLICITING PROPOSALS, FACILITATING ARTIST AND SITE SELECTION PROCESSES, AND GATHERING PUBLIC INPUT. LEXARTS ALSO OPERATES ARTSPLACE, A FACILITY IN DOWNTOWN LEXINGTON WITH A HIGH QUALITY VISUAL ARTS GALLERY AS WELL AS PERFORMANCE, REHEARSAL AND OFFICE SPACE FOR NONPROFIT ARTS ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ame Sweetall President, CEO And Directo | OfficerTrustee | 40 | $55,417 |
Ellen A Plummer Past President & Director | Trustee | 40 | $9,767 |
Robin Thomerson Chair & Director | OfficerTrustee | 2 | $0 |
Michelle Deans Treasurer, Chair, & Direct | OfficerTrustee | 2 | $0 |
Greg Padgett Chair & Director | OfficerTrustee | 2 | $0 |
Jon Stewart Chair & Director | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,088,747 |
| Investment income | $31,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $50,500 |
| Net Gain/Loss on Asset Sales | $89,442 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $86,808 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,460,251 |
| Statement of Expenses | |
|---|---|
| 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. | $117,717 |
| Compensation to disqualified persons | $3,874 |
| Other salaries and wages | $247,005 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,042 |
| Payroll taxes | $28,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,688 |
| Advertising and promotion | $9,818 |
| Office expenses | $3,955 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,361 |
| Travel | $1,611 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,981 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,134 |
| Insurance | $13,217 |
| All other expenses | $0 |
| Total functional expenses | $1,558,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,513 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $49,966 |
| Accounts receivable, net | $14,770 |
| 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 | $19,814 |
| Investments—publicly traded securities | $757,239 |
| Investments—other securities | $87,578 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,309,442 |
| Accounts payable and accrued expenses | $2,127 |
| Grants payable | $53,828 |
| Deferred revenue | $25,000 |
| 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 | $342,044 |
| Total liabilities | $422,999 |
| 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 |
| Total liabilities and net assets/fund balances | $886,443 |
Grants Awarded
Over the last fiscal year, Lexarts Inc has awarded $345,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $90,000 |
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $90,000 |
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $90,000 |
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $30,000 |
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $30,000 |
Lexington, KY PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lexarts Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: FOR THE ORGANIZATION'S MISSON TO OBTAIN MATERIALS AND RESOURCES TO IMPROVE SCHOOLS. | | $5,000 |
Endowment Analysis
| Beg. Balance | $844,817 |
| Earnings | $268,719 |
| Ending Balance | $1,113,536 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Columbus Arts Council Inc Columbus, OH | $9,747,669 | $12,867,365 |
Arts Council Of Indianapolis Inc Indianapolis, IN | $8,597,633 | $5,263,250 |
Mid-America Arts Alliance Kansas City, MO | $12,444,344 | $5,873,119 |
Arts United Of Greater Fort Wayne Fort Wayne, IN | $21,534,301 | $3,773,379 |
Arts Memphis Memphis, TN | $27,136,198 | $4,849,435 |
Regional Cultural & Performing Arts Development Commission St Louis, MO | $5,092,606 | $4,539,915 |
Indiana Humanities Council Inc Indianapolis, IN | $8,992,568 | $3,654,687 |
Arts Commission Of Greater Toledo Inc Toledo, OH | $2,952,895 | $2,261,161 |
The Art League Inc Alexandria, VA | $1,163,966 | $1,385,812 |
Arts & Education Council Of Greater St Louis St Louis, MO | $3,607,788 | $2,239,386 |
Metropolitan Arts Council Of Greater Kansas City Kansas City, MO | $1,490,400 | $2,232,014 |
West Virginia Humanities Council Inc Charleston, WV | $2,418,938 | $2,018,202 |