Lexington Philharmonic Orchestra Foundation Inc
- Assets
- $2.7m
- Revenue
- $174.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 06/1979
- Data as of
- 06/2022
- EIN
- 31-0951921
Organization Overview
Lexington Philharmonic Orchestra Foundation Inc is located in Lexington, KY. The organization was established in 1979. According to its NTEE Classification (A19) the organization is classified as: Support N.E.C., 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. Lexington Philharmonic Orchestra Foundation Inc 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 06/2022, Lexington Philharmonic Orchestra Foundation Inc generated $174.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $156.7k during the year ending 06/2022. While expenses have increased by 1.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL ASSISTANCE TO THE LEXINGTON PHILHARMONIC SOCIETY, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PERCENTAGE OF EARNINGS FROM PERMANENT ENDOWMENT FUNDS WERE TRANSFERRED TO THE LEXINGTON PHILHARMONIC TO HELP SUPPORT ITS ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise H Mcclelland Secretary/treasurer | OfficerTrustee | 3 | $0 |
John Wharton Chair | OfficerTrustee | 1 | $0 |
Sharon Reed Vice-Chair | OfficerTrustee | 1 | $0 |
Larry C Deener Board Member | Trustee | 1 | $0 |
David Porter Board Member | Trustee | 1 | $0 |
Renee Smith Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $107,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,740 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,681 |
| 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. | $0 |
| 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 | $19,086 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $1,078 |
| All other expenses | $0 |
| Total functional expenses | $156,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,516 |
| Savings and temporary cash investments | $80,139 |
| Pledges and grants receivable | $2,700 |
| Accounts receivable, net | $5,721 |
| 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 | $0 |
| Investments—publicly traded securities | $2,272,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $315,265 |
| Total assets | $2,728,841 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,477,248 |
| Net assets with donor restrictions | $251,593 |
| 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 | $2,728,841 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lexington Philharmonic Orchestra Foundation Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Lexington Orphan Society Lexington, KY PURPOSE: SUBSIDY | $1,000 |
Endowment Analysis
| Beg. Balance | $2,244,514 |
| Ending Balance | $2,244,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Association For The Performing Arts Columbus, OH | $17,900,822 | $9,227,744 |
Pro Musica Chamber Orchestra Of Columbus Inc Columbus, OH | $5,145,950 | $3,041,933 |
Baker-Hunt Foundation Inc Covington, KY | $705,341 | $789,508 |
Mchenry County Music Center Crystal Lake, IL | $59,326 | $251,727 |
Zoras House Inc Columbus, OH | $407,394 | $621,638 |
Lexington Philharmonic Orchestra Foundation Inc Lexington, KY | $2,728,841 | $174,681 |
Foundation For Art And Music In Elementary Education Inc Fort Wayne, IN | $265,806 | $177,296 |
Peoria Players Peoria, IL | $266,404 | $174,519 |
Irish Restoration Association Inc Munroe Falls, OH | $169,930 | $0 |
Van Wyk Charitable Foundation Inc Chicago, IL | $196,280 | $281,280 |
The Downtown Dream Machine Memphis, TN | $318,252 | $0 |
Tates Creek Dance Team Booster Club Inc Lexington, KY | $1,902 | $0 |