Overview
What is Lyme Academy Of Fine Arts?
The Lyme Academy of Fine Arts, situated in Old Lyme, Connecticut, is a distinguished nonprofit institution that has reaffirmed its founding principles under the guidance of artistic directors Jordan Sokol and Amaya Gurpide. This husband-and-wife duo draws inspiration from the Academy's early leaders, sculptor Elisabeth Gordon Chandler and renowned artist Laci DeGerendey. The Academy's recent vision has attracted an increasing number of students and artists, who are now studying and teaching there. The Lyme Academy is currently launching a new sculpture program set to debut in fall 2023. A significant contribution of $1,000,000 from alumna Charlotte Colby Danly enabled the search for a teacher to uphold the Academy's esteemed tradition in sculpture. A committee, consisting of Ms. Danly, board member/artist Eileen Eder, board chair Michael Duffy, Jordan Sokol, Israeli sculptor Eran Weber, and the former head of the sculpture department at the Florence Academy, Robert Bode, conducted this search. After reviewing numerous applicants, the committee unanimously selected acclaimed sculptor Chad Fisher to serve as the Charlotte Colby Danly Sculpture Chair at Lyme Academy. The inaugural group of full-time sculpture students commenced their studies in the fall of 2023 under Mr. Fisher's tutelage. Furthermore, in March of 2023, the Academy hired a managing director, Wendy Bury, to oversee its daily operations and strategic planning initiatives. The Lyme Academy's mission is to teach the fundamental skills of drawing, painting, and sculpture in the figurative tradition. By focusing on training students in these skills and engaging with contemporary discourse, the Academy aims to foster a new generation of artists. Through its programs, the Academy seeks to enrich the cultural life of the community. With a workforce of 10 dedicated individuals, the Lyme Academy of Fine Arts continues to uphold its commitment to artistic excellence.
Official website here: www.lymeacademy.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Stars)
Lyme Academy Of Fine Arts holds a Three-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The rating is based entirely on their accountability and finance score, which reflects several strong governance practices, including a fully independent board and a lack of material diversion of assets.
The organization excels in maintaining oversight, with complete transparency in its policies, such as conflict of interest and whistleblower policies. The board's independence is noteworthy, contributing to a well-structured governance framework. However, the program expense ratio is relatively low at 54.90%, suggesting that a significant portion of funds may not be directed toward program expenses, which could be a concern for some donors looking for higher program investment.
Overall, while Lyme Academy Of Fine Arts demonstrates strong financial accountability and governance, potential supporters may want to evaluate the efficiency of its program spending relative to overall expenses before making contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Lyme Academy Of Fine Arts legitimate?
Lyme Academy Of Fine Arts is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lyme Academy Of Fine Arts 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $536,345
For more financial information, click here
Official website here: www.lymeacademy.edu
What is the mission statement of Lyme Academy Of Fine Arts?
The Lyme Academy of Fine Arts is dedicated to teaching fundamental skills in drawing, painting, and sculpture, following the figurative tradition. By providing this training and engaging with contemporary discourse, the academy aims to foster a new generation of artists. Its programs aim to enrich the cultural life of the community, emphasizing the importance of foundational skills in art. The academy seeks to carry forward its distinguished tradition in sculpture, as demonstrated by the appointment of renowned sculptor Chad Fisher as the Charlotte Colby Danly Sculpture Chair.
Official website here: www.lymeacademy.edu
Who is the CEO of Lyme Academy Of Fine Arts?
Michael Duffy is the Chairman of Lyme Academy Of Fine Arts.
Official website here: www.lymeacademy.edu
What is the revenue of Lyme Academy Of Fine Arts?
Lyme Academy Of Fine Arts's revenue in 2023 was $1,429,130.
Official website here: www.lymeacademy.edu
Who are the executives of Lyme Academy Of Fine Arts and what are their salaries?
The average compensation at Lyme Academy Of Fine Arts during 2023 was $53,634. There are 10 employees and 30 volunteers at Lyme Academy Of Fine Arts.
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Official website here: www.lymeacademy.edu
Where can I find the form 990 for Lyme Academy Of Fine Arts?
Lyme Academy Of Fine Arts's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lymeacademy.edu
Learn more at the official website: www.lymeacademy.edu
Mission Statement of Lyme Academy Of Fine Arts
The Lyme Academy of Fine Arts, a prestigious institution, is dedicated to the mission of cultivating the fundamental skills in drawing, painting, and sculpture within the figurative tradition. By fostering a strong foundation in these artistic disciplines and engaging with contemporary discourse, the academy aims to inspire a new generation of talented artists. Through its programs, Lyme Academy of Fine Arts strives to enrich the cultural landscape of the community by empowering its students.
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Impact
July, 2024
Lyme Academy of Fine Arts has made a significant impact by revitalizing its founding principles under the leadership of artistic directors Jordan Sokol and Amaya Gurpide. Their vision has attracted a growing number of students and artists to study and teach at the academy, reviving its commitment to teaching foundational skills in drawing, painting, and sculpture in the figurative tradition. The launch of a new sculpture program in 2023 and the appointment of acclaimed sculptor Chad Fisher as the Charlotte Colby Danly Sculpture Chair further demonstrate the academy's dedication to empowering a new generation of artists. This renewed focus on traditional artistic practices and engagement with contemporary discourse serves to enrich both the students and the community at large.
This information is meant to be a general summary of Lyme Academy Of Fine Arts. 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: $182,806
- Program Service Revenue: $502,413
- Gross Receipts: $1,693,157
Assets and Liabilities:
- Total Assets: $15,291,724
- Total Liabilities: $1,842,762
- Net Assets: $13,448,962
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPEN STUDIO DRAWING
Revenue
$140
TUITION
Revenue
$452,251
WORKSHOP FEES
Revenue
$4,950
YOUTH PROGRAM
Revenue
$45,072
Organization Details
Founding Year
1976
Phone
(860) 434-5232Principal Officer
Michael Duffy
Main Address
84 LYME STREET, OLD LYME, CT, 06371
Website
www.lymeacademy.eduNTEE Category
Code: A250 - Arts
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