Los Angeles Art Association
- Assets
- $201.3k
- Revenue
- $442.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Los Angeles, CA
- Founding
- 07/1938
- Data as of
- 12/2023
- EIN
- 95-6072782
Organization Overview
Los Angeles Art Association is located in Los Angeles, CA. The organization was established in 1938. 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. Los Angeles Art Association 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 12/2023, Los Angeles Art Association generated $442.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $447.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 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
PROVIDE OPPORTUNITIES, RESOURCES, SERVICES, AND EXHIBITION VENUES FOR LOS ANGELES ARTISTS, WITH EMPHASIS ON EMERGING TALENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSTED ART EXHIBITIONS AND HOLD CLASSES FOR NON-TRADITIONAL AND TRADITIONAL LOS ANGELES EMERGING ARTISTS TO PROVIDE THE EXPERIENCE, EDUCATION, AND EXPOSURE NEEDED TO CREATE AND SUSTAIN A CAREER IN THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Mays Executive Dir. | Trustee | 40 | $84,000 |
Midge Lynn President | OfficerTrustee | 5 | $0 |
Brad Howe Director | OfficerTrustee | 5 | $0 |
Laura Beatty Secretary | OfficerTrustee | 5 | $0 |
Lonnie Lardner Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $173,501 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,090 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,591 |
| Total Program Service Revenue | $212,588 |
| Investment income | $4 |
| 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 | $442,183 |
| 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. | $92,800 |
| Compensation of current officers, directors, key employees. | $92,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,000 |
| Payroll taxes | $6,685 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,811 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,420 |
| Advertising and promotion | $3,423 |
| Office expenses | $4,790 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $72,580 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,760 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,129 |
| All other expenses | $95,848 |
| Total functional expenses | $447,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $147,852 |
| Savings and temporary cash investments | $13 |
| 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 | $53,481 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $201,346 |
| 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 | $39,609 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,950 |
| Total liabilities | $50,559 |
| Net assets without donor restrictions | $150,787 |
| 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 | $201,346 |