Variety Arts Of Louisville
- Assets
- $3.1m
- Revenue
- $269.4k
- Investments
- $0.0
- Employees
- 12
- Location
- Lafayette, CO
- Founding
- 10/2007
- Data as of
- 06/2021
- EIN
- 26-0174722
Organization Overview
Variety Arts Of Louisville, operating under the name The Arts Hub, is located in Lafayette, CO. The organization was established in 2007. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Arts Hub employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arts Hub 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 06/2021, Arts Hub generated $269.4k 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 (8.8%) each year. All expenses for the organization totaled $180.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (14.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY ART CLASSES AND PROMOTE OPPORTUNITIES FOR PATRONS AND ARTISTS TO CONNECT.
Describe the Organization's Program Activity:
THE ORGANIZATION OFFERS DANCE, THEATER/MUSICAL THEATER, MUSIC, VISUAL ART, AND FILM PROGRAMS, AS WELL AS ART EXHIBITS, AND OTHER EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lloyd Lewis Secretary | OfficerTrustee | 1 | $0 |
Lark Rambo President (thru 06/14/2021) | OfficerTrustee | 1 | $0 |
Katrina Bailey Treasurer | OfficerTrustee | 1 | $0 |
Lorinda Jones Executive Director | Officer | 40 | $0 |
Mark Moffett Board Member Until 12/2020 | Trustee | 1 | $0 |
Alan Crandall Board Member Until 12/2020 | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $165,208 |
| All other contributions, gifts, grants, and similar amounts not included above | $586 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $165,794 |
| Total Program Service Revenue | $89,534 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,052 |
| 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 | $269,380 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,884 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,985 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,805 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,728 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,666 |
| Advertising and promotion | $921 |
| Office expenses | $2,618 |
| Information technology | $6,244 |
| Royalties | $6,168 |
| Occupancy | $26,819 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,978 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,094 |
| Insurance | $4,978 |
| All other expenses | $0 |
| Total functional expenses | $180,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,198 |
| Savings and temporary cash investments | $8,008 |
| 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 | $5,698 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,926,948 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $341 |
| Total assets | $3,057,193 |
| Accounts payable and accrued expenses | $4,716 |
| Grants payable | $0 |
| Deferred revenue | $42,332 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $2,724,516 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,771,564 |
| Net assets without donor restrictions | $285,629 |
| 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 | $3,057,193 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Variety Arts Of Louisville has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Justgive Inc Weston, CT PURPOSE: General Support | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Academy Of Mathematics & Science South Inc Tucson, AZ | $124,208,680 | $62,725,140 |
Anderson Ranch Arts Foundation Snowmass Village, CO | $19,349,000 | $7,444,141 |
Fab Lab Tulsa Inc Tulsa, OK | $905,994 | $2,260,190 |
Foundation For Lincoln Public Schools Lincoln, NE | $17,002,214 | $4,527,343 |
Art Students League Of Denver Denver, CO | $2,150,049 | $2,289,374 |
Tara Institute Of The Performing Arts Incorporated Boulder, CO | $2,762,734 | $2,020,459 |
Kimball Art Center Park City, UT | $7,426,546 | $2,347,977 |
Santa Fe School For The Arts Santa Fe, NM | $4,340,717 | $1,902,890 |
Oklahoma Arts Institute Oklahoma City, OK | $2,532,394 | $1,383,952 |
Ah Haa School For The Arts Telluride, CO | $12,435,871 | $2,343,816 |
Scottsdale Artists School Inc Scottsdale, AZ | $3,858,477 | $2,545,960 |
Act One Phoenix, AZ | $1,556,445 | $1,427,696 |