Lucid Art Foundation
- Assets
- $77.0m
- Revenue
- $1.2m
- Investments
- $2.2m
- Employees
- 0
- Location
- Inverness, CA
- Founding
- 08/1999
- Data as of
- 09/2023
- 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 09/2023, Lucid Art Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $939.4k during the year ending 09/2023. While expenses have increased by 9.2% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
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 GOAL OF THE LUCID ART RESIDENCY PROGRAM IS TO PROVIDE ARTISTS WITH A SERENE, RETREAT-LIKE NATURAL ENVIRONMENT FOR CREATIVE EXPLORATION AND INQUIRY INTO ARTS AND CONSCIOUSNESS.THE LUCID ART FOUNDATION ENCOURAGES EXPLORATION OF ART THROUGH MULTIMEDIA, CONCEPTUAL, ECOLOGICAL, AND INTERDISCIPLINARY APPROACHES. DURING THE RESIDENCY (GENERALLY TAKING PLACE FROM MARCH TO NOVEMBER OF EACH YEAR), ARTISTS WILL HAVE THE OPPORTUNITY TO EXPLORE THE PRACTICE OF LUCID ART, WITH SPECIAL EMPHASIS ON THE INTEGRATION OF ART, PROCESS, AND INNER AWARENESS. THROUGH THIS PRACTICE, A DEEPER FOUNDATION IS CREATED THAT FOSTERS INDIVIDUAL ARTISTIC GROWTH AND DEVELOPMENT AS WELL AS THE UNDERSTANDING OF THE ARTIST'S ROLE IN SOCIETY.THE FOUNDATION HOSTED 9 ARTISTS DURING THE FISCAL YEAR. DETAILED INFORMATION IS AVAILABLE ON THE WEBSITE: WWW.LUCIDART.ORG/RESIDENCY#ARTISTSLIST
EDUCATIONAL SEMINARS AND ARCHIVE PROGRAM: THE FOUNDATION CONDUCTED THE FOLLOWING EDUCATIONAL SEMINARS:- "SURREALISM AND THE SACRED: POWER,EROS AND THE OCCULT IN MODERN ART" - "THE KEYS TO THE SECRET WORLD OF REMEDIOS VARO"- "INDIVIDUAL SESSIONS FOR PAINTERS"-MULTIPLE SESSIONSARCHIVING 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 | $210,000 | |
Antonina Wasley Treasurer(3/23) | 0 | $0 | |
Kathryn Hansen Past Treasurer | 1 | $0 | |
Steven A Simontacchi Secretary | 3 | $0 | |
Elizabeth Zarlengo Treasurer | 2 | $0 | |
James Stavoy Chairman | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $401 |
| Dividends & Interest | $62,860 |
| Net Rental Income | $34,899 |
| Net Gain on Sale of Assets | $1,121,059 |
| Capital Gain Net Income | $1,121,059 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,564 |
| Total Revenue | $1,225,783 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $216,304 |
| Other employee salaries and wages | $263,536 |
| Pension plans, employee benefits | $87,000 |
| Interest | $0 |
| Taxes | $30,389 |
| Depreciation | $13,052 |
| Occupancy | $125,448 |
| Travel, conferences, and meetings | $4,409 |
| Printing and publications | $21,019 |
| Other expenses | $119,235 |
| Total operating and administrative expenses | $938,876 |
| Contributions, gifts, grants paid | $500 |
| Total expenses and disbursements | $939,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,940 |
| Savings and temporary cash investments | $313,760 |
| Net Accounts receivable | $500,000 |
| 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 | $16,057 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,077,812 |
| Net Land, buildings, and equipment | $2,756,667 |
| Other assets | $71,221,573 |
| Total assets | $77,022,682 |
| Accounts payable and accrued expenses | $15,216 |
| 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 | $54,359 |
| Total liabilities | $69,575 |
Grants Awarded
Over the last fiscal year, Lucid Art Foundation has awarded $2,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE ASPEN INSTITUTE PURPOSE: A GIFT TO ASSIST THE ENHANCED DISSEMINATION ACTIVITIES FOR THE ASPEN INSTITUTE'S NATIONAL STUDY OF ARTIST-ENDOWED FOUNDATIONS | $1,000 |
DANCE PALACE COMMUNITY CENTER PURPOSE: GENERAL SUPPORT | $1,000 |