Lucid Art Foundation
- Assets
- $77.2m
- Revenue
- $312.5k
- Investments
- $4.0m
- Employees
- 0
- Location
- Inverness, CA
- Founding
- 08/1999
- Data as of
- 09/2021
- EIN
- 94-3316074
Organization Overview
Lucid Art Foundation is located in Inverness, CA. The organization was established in 1999. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Lucid Art Foundation 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 09/2021, Lucid Art Foundation generated $312.5k 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 (18.7%) each year. All expenses for the organization totaled $741.2k during the year ending 09/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION MANAGEMENT: THE FOUNDATION CONTINUED CATALOGING AND PHOTOGRAPHING ART WORKS IN THE COLLECTION AND WORKED WITH MUSEUMS AND GALLERIES TO LOAN WORKS FOR EXHIBITION.
ARTIST RESIDENCY PROGRAM: THE FOUNDATION POSTPONED OPERATING AN ARTIST RESIDENCY PROGRAM DURING 2020 DUE TO PANDEMIC RESTRICTIONS AND RESUMED THE PROGRAM DURING THE LAST PART OF THE FISCAL YEAR ENDED SEPTEMBER 2021. DEFERRED RESIDENCIES FOR SEVERAL PARTICIPATING ARTISTS WERE RESCHEDULED TAKE PLACE DURING 2022.
EDUCATIONAL SEMINARS AND ARCHIVE PROGRAM: THE FOUNDATION CONDUCTED AN EDUCATIONAL SEMINAR "WHAT IS LUCID ART? CONSCIOUSNESS, ART, AND SCIENCE." ARCHIVING OF LETTERS AND MANUSCRIPTS FOR USE OF SCHOLARS AND EXTENSIVE DOCUMENTATION OF HISTORICAL PHOTOGRAPHS. CONTINUE DEVELOPING THE LIBRARY RESOURCE CENTER FOR USE OF SCHOLARS AND ARTISTS IN RESIDENCE. THE FOUNDATION PROVIDED THE ARCHIVE AND LIBRARY TO USE FOR RESEARCH BY MANY NATIONAL AND INTERNATIONAL ARTISTS, SCHOLARS AND WRITERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fariba Bogzaran Executive Dir. | 50 | $189,536 | |
Kathryn Hansen Treasurer | 2 | $0 | |
Steven A Simontacchi Secretary | 3 | $0 | |
James Stavoy Chairman | 2 | $0 | |
Elizabeth Zarlengo Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $191 |
| Dividends & Interest | $57,318 |
| Net Rental Income | $22,575 |
| Net Gain on Sale of Assets | $219,842 |
| Capital Gain Net Income | $219,842 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,548 |
| Total Revenue | $312,474 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $189,536 |
| Other employee salaries and wages | $203,245 |
| Pension plans, employee benefits | $83,137 |
| Interest | $0 |
| Taxes | $26,182 |
| Depreciation | $9,477 |
| Occupancy | $83,964 |
| Travel, conferences, and meetings | $568 |
| Printing and publications | $400 |
| Other expenses | $100,110 |
| Total operating and administrative expenses | $739,715 |
| Contributions, gifts, grants paid | $1,500 |
| Total expenses and disbursements | $741,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,186 |
| Savings and temporary cash investments | $1,090,379 |
| 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 | $16,446 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,102,812 |
| Net Land, buildings, and equipment | $472,064 |
| Other assets | $71,613,637 |
| Total assets | $77,232,052 |
| Accounts payable and accrued expenses | $9,158 |
| 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 | $56,061 |
| Total liabilities | $65,219 |
Grants Awarded
Over the last fiscal year, Lucid Art Foundation has awarded $1,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DANCE PALACE COMMUNITY CENTER PURPOSE: GENERAL SUPPORT | $1,000 |
Point Reyes Station, CA PURPOSE: TO SUPPORT ARTISTS IN SCHOOL PROGRAM | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jserra Catholic High School San Juan Capistrano, CA | $110,381,982 | $32,636,304 |
The Society For The Promotion Of Japanese Animation Santa Ana, CA | $0 | $15,922,386 |
Haven Gallery Pomona, CA | $12,441,851 | $10,866,207 |
Yerba Buena Center For The Arts San Francisco, CA | $31,419,770 | $23,544,531 |
Festival Of Arts Of Laguna Beach Laguna Beach, CA | $11,626,110 | $10,814,120 |
Wallis Annenberg Center For The Performing Arts Beverly Hills, CA | $86,738,826 | $10,256,946 |
Maui Arts & Cultural Center Kahului, HI | $31,390,294 | $9,713,031 |
Immigration Institute Of The Bay Area San Francisco, CA | $7,526,224 | $6,922,510 |
Montalvo Association Saratoga, CA | $34,273,816 | $7,481,073 |
First Step Housing Sacramento, CA | $1,058,195 | $4,450,714 |
The Center For Cultural Innovation Los Angeles, CA | $15,572,704 | $5,971,325 |
Alliance For California Traditional Arts Fresno, CA | $2,645,027 | $4,730,784 |