Overview
What is Lexington Arts And Crafts Society Inc?
Lexington Arts and Crafts Society Inc, located at 130 Waltham Street, Lexington, MA 02421, is a nonprofit organization with a strong community presence. It boasts over 170 members spread across nine guilds, fostering a lively and engaged membership base. The Society's mission is to promote the interest and uphold the standards in arts and crafts within the community, and they provide educational opportunities to achieve this goal. Members regularly hold meetings and conduct classes, facilitating the sharing of knowledge and skills in various art and craft disciplines. Throughout the year, the Society organizes galleries, fairs, and marketplaces, offering a platform for artists to showcase their work and connect with the community. With a dedicated team of eight employees, Lexington Arts and Crafts Society Inc continues to thrive and contribute to the cultural landscape of its community.
Official website here: www.lexart.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Star rating.
The Lexington Arts and Crafts Society Inc has received a low rating of 52%, indicating significant concerns regarding its financial oversight and program efficiency. While the organization demonstrates strong governance with 93% of its board members being independent and fully compliant with various policies, its financial ratios raise alarms. The organization has a program expense ratio of 46.88%, suggesting that a majority of its resources may not be directed toward its core mission.
One notable strength of the organization is its commitment to transparency in governance, as evidenced by its comprehensive audit and oversight mechanisms. Furthermore, it has successfully avoided any material diversion of assets. However, the absence of its tax form on the nonprofit's website and a concerning liabilities to assets ratio of 1.51% suggest potential financial instability and a lack of accessibility in sharing critical financial information with the public.
Overall, while the Lexington Arts and Crafts Society Inc showcases effective governance practices, its financial performance and accountability need improvement. Prospective donors and stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Lexington Arts And Crafts Society Inc legitimate?
Lexington Arts And Crafts Society Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexington Arts And Crafts Society Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $243,902
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lexart.org
What is the mission statement of Lexington Arts And Crafts Society Inc?
The Lexington Arts and Crafts Society Inc is dedicated to advocating for and upholding the interests and standards of arts and crafts within the community. Their mission encompasses providing educational opportunities in this field. With over 170 members organized into nine guilds, they actively engage in meetings and classes, fostering a vibrant community of artists and crafters. Throughout the year, they host galleries, fairs, and marketplaces, providing a platform for showcasing and selling their work.
Official website here: www.lexart.org
Who is the CEO of Lexington Arts And Crafts Society Inc?
Michael Lawson is the Chair of Lexington Arts And Crafts Society Inc.
Official website here: www.lexart.org
What is the revenue of Lexington Arts And Crafts Society Inc?
Lexington Arts And Crafts Society Inc's revenue in 2023 was $709,550.
Official website here: www.lexart.org
Who are the executives of Lexington Arts And Crafts Society Inc and what are their salaries?
The average compensation at Lexington Arts And Crafts Society Inc during 2023 was $30,488. There are 8 employees and 200 volunteers at Lexington Arts And Crafts Society Inc.
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Official website here: www.lexart.org
Where can I find the form 990 for Lexington Arts And Crafts Society Inc?
Lexington Arts And Crafts Society Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lexart.org
Learn more at the official website: www.lexart.org
Mission Statement of Lexington Arts And Crafts Society Inc
Lexington Arts and Crafts Society Inc is committed to fostering interest and upholding standards in the realm of arts and crafts within their community. Their mission, in essence, is to promote and encourage the appreciation of these creative pursuits, while also providing educational opportunities for its members. The society, with a membership base of over 170 individuals, organizes meetings and conducts classes to nurture and share their collective passion for arts and crafts. Throughout the year, they host galleries, fairs, and marketplaces, providing a platform for showcasing and celebrating the talents of their members.
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Impact
July, 2024
Lexington Arts And Crafts Society Inc plays a significant role in promoting the interests and standards in arts and crafts within the community. Through a variety of activities such as meetings, classes, galleries, fairs, and marketplaces, the society actively engages over 170 members across nine guilds. By providing opportunities for members to showcase their work, learn new skills, and connect with like-minded individuals, the society contributes to the enrichment of the local arts scene and fosters a sense of creativity and community among its members.
This information is meant to be a general summary of Lexington Arts And Crafts Society Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $21,431
- Program Service Revenue: $361,601
- Gross Receipts: $792,952
Assets and Liabilities:
- Total Assets: $1,845,837
- Total Liabilities: $27,976
- Net Assets: $1,817,861
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLASS FEES
Revenue
$211,809
MEMBERSHIP DUES / FEES
Revenue
$96,950
GALLERIES, FAIRS, HOLI
Revenue
$52,842
Organization Details
Founding Year
1952
Phone
(781) 862-9696Principal Officer
Michael Lawson
Main Address
130 WALTHAM STREET, LEXINGTON, MA, 02421
Website
www.lexart.orgNTEE Category
Code: A40 - Arts
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