Locust Projects Inc
- Assets
- $423.0k
- Revenue
- $876.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Miami, FL
- Founding
- 10/2002
- Data as of
- 06/2021
- EIN
- 65-1134780
Organization Overview
Locust Projects Inc is located in Miami, FL. The organization was established in 2002. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Locust Projects Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Locust Projects 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 06/2021, Locust Projects Inc generated $876.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $785.9k during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE VISUAL ARTS BY PROVIDING EXHIBITION SPACE PRESENTING SITE-SPECIFIC ARTWORK FILLING THE GAP BETWEEN MUSEUMS AND COMMERCIAL GALLERIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EXHIBITION SPACE AND PUBLIC EXPOSURE FOR SITE-SPECIFIC VISUAL ARTWORK BY PRESENTING WORKS OF SEVERAL LOCAL, NATIONAL AND INTERNATIONAL ARTISTS.
PROVIDED INCUBATOR GRANTS TO VISIONARY ARTISTS FOR INNOVATIVE PUBLICLY ACCESSIBLE PROJECTS THROUGH WAVEMAKER PROGRAM.
PROVIDED INTENSIVE ART SUMMER CAMP FOR HIGH SCHOOL STUDENTS WITH AN INTEREST IN ART, DESIGN AND EXPLORING CREATIVE CAREERS TO LEARN FROM PROFESSIONAL ARTISTS.
TALKS - PROVIDED DIRECT ACCESS TOP CURATORS AND IDEAS DRIVING CONTEMPORARY ART THROUGH A SERIES OF TALKS.LEGALARTLINK- PROVIDED LEGAL AID AND EDUCATION PROGRAM FOR ARTISTS AND ORGANIZATIONS THROUGHOUT FLORIDA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorie Mertes Executive Director | 65 | $137,850 | |
Debra Frank Secretary | OfficerTrustee | 4 | $0 |
Debra Scholl Chairman Of The Board | OfficerTrustee | 5 | $0 |
Jorge Garcia Vice Chair | OfficerTrustee | 4 | $0 |
Steven Lanster Treasurer | OfficerTrustee | 4 | $0 |
Amy Pollack Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $36,230 |
| Fundraising events | $132,090 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $780,569 |
| Noncash contributions included in lines 1a–1f | $131,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $948,889 |
| Total Program Service Revenue | $26,285 |
| 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 | -$98,373 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $876,801 |
| 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 | $1,900 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $316,707 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,137 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,613 |
| Advertising and promotion | $5,214 |
| Office expenses | $10,593 |
| Information technology | $5,773 |
| Royalties | $0 |
| Occupancy | $83,556 |
| Travel | $8,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $885 |
| Insurance | $4,597 |
| All other expenses | $58,078 |
| Total functional expenses | $785,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,889 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $21,104 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $422,993 |
| Accounts payable and accrued expenses | $9,624 |
| 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 | $0 |
| Other liabilities | $1,920 |
| Total liabilities | $11,544 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $411,449 |
| Total liabilities and net assets/fund balances | $422,993 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Locust Projects Inc has recieved totaling $171,595.
| Awarding Organization | Amount |
|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY PURPOSE: WARHOL RE-GRANTING INITIATIVE | $100,000 |
Hillsdale Fund Inc Greensboro, NC PURPOSE: TO ASSIST THE TAX EXEMPT ORGANIZATION TO CARRY OUT ITS EXEMPT PURPOSE. | $20,000 |
Albert H & Jane D Nahmad Foundation Inc Miami, FL PURPOSE: GENERAL OPERATIONS | $20,000 |
Fifty Over Fifty Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $10,000 |
Fifty Over Fifty Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $10,000 |
The Kirk Foundation Inc Palmetto Bay, FL PURPOSE: GENERAL PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Four Arts Palm Beach, FL | $121,173,909 | $24,597,391 |
Irma And Norman Braman Art Foundation Miami, FL | $27,200,000 | -$200,000 |
Korean Martial Arts Culture & Education Foundation Inc Hollywood, FL | $530,186 | $4,469,417 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |
Miami Broward One Carnival Host Committee Inc Miami, FL | $499,382 | $2,415,530 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Dunedin Fine Arts Cultural Center Inc Dunedin, FL | $9,442,187 | $2,311,828 |
Ocean Reef Cultural Center Inc Key Largo, FL | $38,541,149 | $2,233,554 |
Pensacola Retirement Village Inc Orlando, FL | $4,149,191 | $1,797,373 |
Iris & B Gerald Cantor Foundation Palm Beach, FL | $24,280,811 | $1,163,888 |
Spruill Center For The Arts Inc Atlanta, GA | $6,437,897 | $2,168,968 |