Laredo Center For The Arts Inc
- Assets
- $154.8k
- Revenue
- $221.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Laredo, TX
- Founding
- 05/1981
- Data as of
- 12/2020
- EIN
- 74-2131194
Organization Overview
Laredo Center For The Arts Inc is located in Laredo, TX. The organization was established in 1981. 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 12/2020, Laredo Center For The Arts Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laredo Center For The Arts 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 12/2020, Laredo Center For The Arts Inc generated $221.4k 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 (5.6%) each year. All expenses for the organization totaled $225.7k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
ARTIST RECEPTIONS, EXHIBITS AND OTHER COMMUNITY ACTIVITIES TO PROMOTE THE ARTS IN THE CITY OF LAREDO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTIST RECEPTIONS, EXHIBITS AND OTHER COMMUNITY ACTIVITIES TO PROMOTE THE ARTS IN THE CITY OF LAREDO.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gabriel Castillo | OfficerTrustee | 1 | $0 |
Fernando Montemayor | OfficerTrustee | 1 | $0 |
Anna Isabel Alvarez | OfficerTrustee | 1 | $0 |
Antonio Figueroa | OfficerTrustee | 1 | $0 |
Priscilla Becklehymer | Trustee | 1 | $0 |
Patricia Figueroa | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,454 |
| Fundraising events | $25,758 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $184,612 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,824 |
| Total Program Service Revenue | $0 |
| Investment income | $367 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,763 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,427 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $221,381 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,895 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,726 |
| Fees for services: Management | $1,803 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $955 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,450 |
| All other expenses | $28,388 |
| Total functional expenses | $225,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,697 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $154,758 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $154,758 |
| 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 | $154,758 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Laredo Center For The Arts Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Prairie Foundation Midland, TX PURPOSE: *SEE ABOVE | $20,000 |
Guadalupe And Lilia Martinez Foundation Fairview, TX PURPOSE: OPERATING FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kimbell Art Foundation Fort Worth, TX | $668,076,057 | $22,208,896 |
Fort Worth Art Association Fort Worth, TX | $70,573,501 | $16,694,058 |
Health Education Learning Project H E L P Fort Worth, TX | $21,809,617 | $21,715,181 |
Texas Advocacy Project Inc Austin, TX | $1,606,192 | $3,119,683 |
Efforts Of Grace Inc New Orleans, LA | $9,750,115 | $6,712,838 |
South Texas Institute For The Arts Corpus Christi, TX | $11,651,943 | $2,742,109 |
Society For Neuro-Oncology Houston, TX | $6,909,260 | $3,914,434 |
Gdiacc Foundation Inc Dallas, TX | $106,516 | $2,129,759 |
Love Station Inc Ponca City, OK | $4,976,987 | $2,048,106 |
Sea Turtle Inc South Padre Island, TX | $11,651,431 | $4,419,765 |
The Walls Project Baton Rouge, LA | $407,630 | $1,770,639 |
Match Midtown Arts & Theater Center Houston Houston, TX | $20,886,964 | $758,825 |