Tri Lakes Center For The Arts
- Assets
- $1.0m
- Revenue
- $136.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Palmer Lake, CO
- Founding
- 01/1999
- Data as of
- 06/2023
- EIN
- 84-1462039
Organization Overview
Tri Lakes Center For The Arts is located in Palmer Lake, CO. The organization was established in 1999. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri Lakes Center For The Arts 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 06/2023, Tri Lakes Center For The Arts generated $136.0k 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 (3.4%) each year. All expenses for the organization totaled $139.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAINING A FACILITY TO PROVIDE ARTS, MUSIC, AND EDUCATIONAL PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE REOPENING AFTER THE PANDEMIC CLOSURE, THE TRI-LAKES CENTER FOR THE ARTS FINE ART EXHIBITIONS HAVE RESULTED IN ART SALES THAT HAVE PROVIDED THOUSANDS OF DOLLARS IN SALES COMMISSIONS TO LOCAL ARTISTS, WHO HAD PREVIOUSLY BEEN STRUGGLING TO MAKE ENDS MEET. IN ADDITION, PERFORMING ARTISTS, WHO HAD BEEN WITHOUT WORK FOR APPROXIMATELY A YEAR AND A HALF, HAVE BEEN PAID FOR THEIR PERFORMANCES. PER LONGTIME ECONOMIC STUDIES, LOCAL BUSINESSES BENEFIT FROM THE TRI-LAKES CENTER FOR THE ARTS EVENTS. IT HAS BEEN NOTED THAT BEFORE OR AFTER A CONCERT EVENT OR GALLERY OPENING RECEPTION, LOCAL RESTAURANTS AND STORES REALIZE AN ADDITIONAL $25 PER PERSON IN BUSINESS SALES. NEIGHBORING PALMER LAKE ESTABLISHMENTS READILY ACKNOWLEDGE SUCH BENEFITS IN CONJUNCTION WITH TRI-LAKES CENTER FOR THE ARTS ARTISTIC PRESENTATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Maddox Executive Director | Officer | 40 | $23,449 |
Carla Maddox Executive Assistant / Secretary | Officer | 20 | $7,800 |
Jesse Maddox President Of The Board | Officer | 10 | $3,200 |
Debra Maddox Secretary | Officer | 10 | $1,100 |
Linda King Officer | Officer | 5 | $0 |
Maggie Williamson Officer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,800 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,385 |
| Total Program Service Revenue | $104,614 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $135,999 |
| 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. | $32,449 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,705 |
| Office expenses | $0 |
| Information technology | $3,754 |
| Royalties | $0 |
| Occupancy | $19,187 |
| 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 | $2,262 |
| All other expenses | $0 |
| Total functional expenses | $139,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $848 |
| 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 | $1,032,433 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,033,281 |
| Accounts payable and accrued expenses | $240 |
| 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 | $12,986 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $76,242 |
| Other liabilities | $0 |
| Total liabilities | $89,468 |
| 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 | $943,813 |
| Total liabilities and net assets/fund balances | $1,033,281 |