Breckenridge Library And Fine Arts Foundation
- Assets
- $5.4m
- Revenue
- $407.7k
- Investments
- $3.5m
- Employees
- 0
- Location
- Breckenridge, TX
- Founding
- 09/1983
- Data as of
- 12/2022
- EIN
- 75-1891984
Organization Overview
Breckenridge Library And Fine Arts Foundation is located in Breckenridge, TX. The organization was established in 1983. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Breckenridge Library And Fine Arts Foundation 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, Breckenridge Library And Fine Arts Foundation generated $407.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $286.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 4 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
2022
Describe the Organization's Program Activity:
OPERATION OF PUBLIC LIBRARY, WHICH IS THE ONLY ONE IN BRECKENRIDGE, TEXAS. THIS INCLUDES AMONG OTHER ACTIVITIES, LOANING OF BOOKS AND E-BOOKS, CHILDREN'S SUMMER READING PROGRAMS, AUDIO-TAPED BOOKS, AND CURRENT NEWSPAPER AND PUBLICATIONS.
FINE ARTS FACILITIES--WHICH INCLUDES, AMONG OTHER ACTIVITIES, TRAVELING EXHIBITS FROM THE SMITHSONION INSTITUTE AND OTHERS, ART WORKSHOPS AND SPECIAL WORKSHOPS FOR CHILDREN, AND PERMANENT DISPLAY OF SCULPTURES, PAINTINGS, AND DOLL COLLECTION.
MUSIC--PROVIDES PROGRAMS FOR ALL SCHOOL CHILDREN AT NO COST IN COOPERATION WITH INDEPENDENT SCHOOL DISTRICTS. ALSO PROVIDED TO THE GENERAL PUBLIC AT NO COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Clark President | 0 | $0 | |
Barrett Clark Vice Pres. | 0 | $0 | |
Rena Goldsmith Sec/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $90,708 |
| Interest on Savings | $6,165 |
| Dividends & Interest | $95,516 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,168 |
| Capital Gain Net Income | $14,168 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $201,182 |
| Total Revenue | $407,739 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $76,543 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | -$842 |
| Depreciation | $38,077 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $171,710 |
| Total operating and administrative expenses | $286,525 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $286,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,428 |
| Savings and temporary cash investments | $773,101 |
| Net Accounts receivable | $1,310 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $407,714 |
| Other assets | $27 |
| Total assets | $5,383,555 |
| Accounts payable and accrued expenses | $149,440 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $149,440 |