Louisville Third Century Inc is located in Louisville, KY. The organization was established in 1990. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Louisville Third Century Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Third Century 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 12/2022, Louisville Third Century Inc generated $335.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $308.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS A CATALYST FOR OTHER NON PROFIT ORGANIZATIONS BY PROVIDING FUNDS OR SERVICES ADDRESSING CIVIC, CULTURAL, AND EDUCATIONAL ISSUES AFFECTING THE QUALITY OF LIFE THROUGHOUT GREATER LOUISVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOUISVILLE THIRD CENTURY IS A 35+ YEAR OLD NONPROFIT DEDICATED TO SUPPORTING THE ECONOMIC, CIVIC, EDUCATIONAL, AND CULTURAL WELFARE OF LOUISVILLE, (NOW "JEFFERSON COUNTY METRO"). WE ARE BEST KNOWN FOR LARGE SCALE LARGE,( 250,000+ ANNUALLY), FREE-TO-THE-PUBLIC FESTIVAL EVENTS AND CONCERTS. WHAT IS NOT SO PUBLICLY RECOGNIZED IS OUR ROLE IN FUNDING OVER 50 VARIOUS NON-PROFITS, CITY AGENCIES, AND NUMEROUS PUBLIC AND PRIVATE K-12 SCHOOLS AND UNIVERSITIES DURING THAT SPAN WITH GRANTS FROM OUR IN-HOUSE "CATALYST FUND" UNDERWRITTEN, IN PART, BY THOSE EVENTS; A KIND OF BINARY BUSINESS MODEL WITH A PHILOSOPHY OF "IT'S ABOUT THE PROJECT - NOT US; THE TOYS NOT THE TOYMAKER. " TO NO ONE'S SURPRISE 2022 WAS A VERY DIFFICULT YEAR. THE ONSET OF THE "INDEFINITE" SHUTDOWNS, AND THE SECONDARY, AND PROJECTED ADDITIONAL SHUTDOWNS FORCED LOUISVILLE THIRD CENTURY TO SERIOUSLY CONSIDER CLOSING OUR DOORS PERMANENTLY. THANKFULLY A 2ND PPP ALLOWED US TO KEEP OUR STAFF IN THE HOPE THAT WE WOULD BE ABLE TO "GET THROUGH IT- AND AVOID THAT TERMINAL FATE. STILL, THE TIMING COULD NOT HAVE BEEN WORSE. WE WERE NEAR THE END OF A MULTI-YEAR PLAN TO UNDERWRITE THE ENTIRE START UP, PRODUCTION AND DEVELOPMENT OF A FISCALLY SELF-SUSTAINING FESTIVAL EVENT - THE LOUISVILLE DRAGONBOAT FESTIVAL. AS WITH OTHER DRAGONBOAT COMPETITIONS L3C WAS DEPENDENT UPON INTERSTATE,(AND INTERNATIONAL), TEAMS OF 20 + TO COMPETE AT OUR FESTIVAL. AS A DIRECT CONSEQUENCE OF THE SHUTDOWNS TEAMS WERE PREVENTED FROM TRAVELING AND REGISTRATION LITERALLY SANK TO ZERO. COUPLED THIS WITH THE RESTRICTIONS ON GATHERINGS OF 25 OR MORE AND THE EVENT WAS LITERALLY KILLED WITH NO NEAR-TERM PROSPECT FOR RESURRECTION. 100'S OF THOUSANDS OF DOLLARS, AND YEARS OF CREATIVE ENERGY WERE LOST. IRRETRIEVABLY. WE KEPT PUSHING THROUGH TO AT LEAST REMAIN ALIVE AND IN THE HOPE THAT WE COULD SURVIVE AND RECOVER AS IT WERE. AND TO SOME DEGREE WE DID. L3C STEPPED UP TO LEND SUPPORT PERHAPS OUR LONGEST "OLD FRIEND" BENEFICIARY ST. MARY'S CENTER, A NON-DENOMINATIONAL RESOURCE FOR MENTALLY CHALLENGED ADULTS. MOST RELEVANTLY THOUGH, LOUISVILLE THIRD CENTURY WAS THE SINGLE LARGEST CASH SPONSOR OF CITY SPONSORED FESTIVAL EVENTS IN 2022. IN ADDITION, TO DIRECT FUNDING, OUR OFFICERS AND STAFF DEDICATED, 100S OF HOURS IN IN-KIND SERVICE AND LENT OUR RATHER IN-DEPTH EXPERIENCE FROM 30 + YEARS OF FREE-TO-THE-PUBLIC FESTIVAL PRODUCTION TOWARD METRO LOUISVILLE'S WORLDFEST AND LIGHT UP LOUISVILLE. LOUISVILLE THIRD CENTURY HAS BEEN INVOLVED WITH METRO (FORMERLY "CITY") EVENTS SINCE THE MID-1990S. WORLDFEST HAS IN ITS 20+ YEARS GROWN TO BE THE MIDSOUTH'S LARGEST MULTI-CULTURALLY BASED FESTIVAL, RECEIVING RECOGNITION FROM THE INTERNATIONAL FESTIVAL AND EVENTS ASSOCIATION AS A "TOP TEN FESTIVAL IN NORTH AMERICA". WITH WELL OVER 150,000 VISITORS THE 4-DAY, FREE-TO-THE-PUBLIC FESTIVAL FEATURES PERFORMANCES BY OVER 70 REGIONAL AND NATIONAL ACTS, AND A MOST AMAZING "GEE, WHICH ONE DO I EAT FIRST" COLLECTION OF INTERCONTINENTAL MENUS. WORLDFEST ALSO HOSTS A GLOBAL VILLAGE REPRESENTED BY OVER 25 NATIONS, OVER 100 ARTISTS AND CRAFTS PERSONS, A "PARADE OF NATIONS, (LED-WEATHER PERMITTING- BY A L3C COMMISSIONED REPLICA OF THE 2012 BEIJING OLYMPIC GOLDEN DRAGON). MOST POIGNANTLY WORLDFEST ACTS AS THE FOCAL POINT FOR A NATURALIZATION CEREMONY; AND L3C HAS SINCE 2014 ( WITH EXCEPTIONS FOR COVID YEARS) HOSTED A GRAND RECEPTION TO WELCOME OUR NEWEST AMERICAN CITIZENS AS THEY JOIN WITH THEIR FAMILY AND FRIENDS TO BE CELEBRATE AS THE NEWEST MEMBERS OF OUR LOUISVILLE FAMILY. L3C CONTINUES TO WORK WITH THE MAYOR'S OFFICE FOR SPECIAL EVENTS ON DEVELOPING NEW WAYS TO KEEP WORLDFEST THRIVING AND RELEVANT IN THE FORESEEABLE FUTURE. LIKEWISE, L3C WAS A CENTRAL FIGURE IN THE CITY'S "HOLIDAY" FESTIVITIES, AS THE PRINCIPAL SPONSOR FOR LIGHT UP LOUISVILLE A 30+ DAY EVENT WHICH INCLUDES NUMEROUS FAMILY ORIENTATED ACTIVITIES CELEBRATING THIS MOST CHERISHED TIME OF THE YEAR. AND AS WITH WORLDFEST L3C STAFF AND VOLUNTEERS DEDICATED WELL OVER 60 SERVICE HOURS AND INCALCULABLE INTELLECTUAL INPUT INTO THE "THOUGHT BEHIND- AND "HOW TO" ASPECTS OF THIS WEEKS-LONG COMMUNITY EVENT. PLANS HAVE BEGUN ALREADY FOR THE MORPHOSIS ( OR RESURRECTION) OF L3C'S "STEEPLE CHASE" IN WHICH, DURING LIGHT UP LOUISVILLE, L3C WORKS WITH CHURCHES AND SYNAGOGUES ACROSS THE METRO TO REJUVENATE THEIR STEEPLES AND TO OPEN THEIR DOORS FOR TOURS AND SAMPLES OF THEIR HOLIDAY TRADITIONS. WE LOOK FORWARD TO WORKING WITH THE FILSON CLUB, THE ARCH DIOCESE, AND THE COURIER JOURNAL ( LIGHTING THE STEEPLES WAS ONE OF MARY BINGHAM'S GREATEST POST WAR WISHES), TO BRING ABOUT WHAT COULD ( WILL ) BE A TRULY UNIQUE EVENT AND HOPEFULLY A NEW HOLIDAY TRADITION FOR THE PEOPLE OF JEFFERSON COUNTY..
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lawrence W Jones President | OfficerTrustee | 40 | $82,054 |
Name Not Listed Vice Preside | OfficerTrustee | 40 | $71,154 |
Margaret Buschermohle Secretary | OfficerTrustee | 40 | $40,001 |
Michael Grieser Board Member | Trustee | 10 | $12,200 |
Melissa Burton Board Member | Trustee | 2 | $0 |
Dana Buschermohle Board Member | Trustee | 2 | $0 |
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 | $2,497 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,497 |
Total Program Service Revenue | $0 |
Investment income | $0 |
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 | $333,349 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $335,846 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
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 | $147,660 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $60,329 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,700 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,074 |
Advertising and promotion | $0 |
Office expenses | $1,802 |
Information technology | $524 |
Royalties | $0 |
Occupancy | $10,989 |
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 | $343 |
Insurance | $22,052 |
All other expenses | $0 |
Total functional expenses | $308,284 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $196,636 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $15,384 |
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 | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $212,020 |
Accounts payable and accrued expenses | $4,136 |
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 | $41,500 |
Other liabilities | $0 |
Total liabilities | $45,636 |
Net assets without donor restrictions | $166,384 |
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 | $212,020 |