Lafayette Museum Association Inc
- Assets
- $554.3k
- Revenue
- $107.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Lafayette, LA
- Founding
- 08/1955
- Data as of
- 04/2024
- EIN
- 72-6027428
Organization Overview
Lafayette Museum Association Inc is located in Lafayette, LA. The organization was established in 1955. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 04/2024, Lafayette Museum Association Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette Museum Association 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 04/2024, Lafayette Museum Association Inc generated $107.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $89.2k during the year ending 04/2024. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
RESTORATION AND OPERATION OF THE LAFAYETTE MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORATION AND OPERATION OF THE LAFAYETTE MUSEUM
RESTORATION AND OPERATION OF THE LAFAYETTE MUSEUM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Cochrane Secretary | Trustee | $0 | |
Alix Cousin Secretary | Trustee | $0 | |
Laura Ann Edwards President | Trustee | $0 | |
Mimi Mary Margaret Francez Vice Preside | Trustee | $0 | |
Suzanne Odom Treasurer | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,121 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,526 |
| Total Program Service Revenue | $5,721 |
| Investment income | $15,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,817 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $25,567 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $107,676 |
| 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 | $23,568 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,785 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,344 |
| Office expenses | $465 |
| 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 | $6,374 |
| Insurance | $11,911 |
| All other expenses | $12,178 |
| Total functional expenses | $89,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,685 |
| Savings and temporary cash investments | $0 |
| 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 | $1,372 |
| Net Land, buildings, and equipment | $98,895 |
| Investments—publicly traded securities | $331,376 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $554,328 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $59,093 |
| 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 | $36 |
| Total liabilities | $59,129 |
| Net assets without donor restrictions | $493,386 |
| Net assets with donor restrictions | $1,813 |
| 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 | $554,328 |