O H & Hattie Mae Lachenmeyer Development Tr
- Assets
- $680.1k
- Revenue
- $85.0k
- Investments
- $648.5k
- Employees
- 0
- Location
- Cushing, OK
- Founding
- 06/1981
- Data as of
- 06/2022
- EIN
- 73-1118154
Organization Overview
O H & Hattie Mae Lachenmeyer Development Tr is located in Cushing, OK. The organization was established in 1981. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. O H & Hattie Mae Lachenmeyer Development Tr 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, O H & Hattie Mae Lachenmeyer Development Tr generated $85.0k 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 (6.1%) each year. All expenses for the organization totaled $83.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE O.H. & HATTIE LACHENMEYER DEVELOPMENT TRUST OPERATES THE LACHENMEYER ARTS CENTER TO PROMOTE THE FINE ARTS IN THE CUSHING, OKLAHOMA COMMUNITY AND SURROUNDING AREAS. THE ARTS CENTER IS A PLACE WHERE STUDENTS, TEACHERS, AND ARTISTS CAN BE BROUGHT TOGETHER FOR PRODUCTIVE HANDS ON EXPERIENCES IN A VARIETY OF ART AREAS. THEY PROVIDE SPACE AND EQUIPMENT FOR LOCAL ART STUDENTS AND ARTISTS TO MEET AND WORK. THE CENTER ORGANIZES ART EXHIBITIONS, CLASSES, WORKSHOPS, AND A FESTIVAL, FESTIVAL IN THE PARK.IN THE FISCAL YEAR OF 2021 - 2022, THERE WERE 534 PEOPLE INCLUDING CHILDREN ATTENDING THE ART CENTER AND THERE WERE APPROXIMATELY 3,500 PEOPLE ATTENDING FESTIVAL IN THE PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert T Smith Director | 40 | $51,000 | |
Emily Moore Trustee | 1 | $2,075 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,705 |
| Interest on Savings | $0 |
| Dividends & Interest | $13,786 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $62,338 |
| Capital Gain Net Income | $62,338 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,171 |
| Total Revenue | $85,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $53,075 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,218 |
| Depreciation | $264 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,675 |
| Total operating and administrative expenses | $83,901 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $83,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,356 |
| Savings and temporary cash investments | $29,080 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $732 |
| Net Land, buildings, and equipment | $132 |
| Other assets | $0 |
| Total assets | $680,117 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $215 |
| Total liabilities | $215 |
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