Overview
What is Art Museum Of Greater Lafayette Foundation Inc?
The Art Museum of Greater Lafayette Foundation Inc, located at 102 South 10th Street, Lafayette, IN 47905, is a charitable and educational nonprofit organization. Established under Section 501(C)3 of the United States Internal Revenue Code of 1954, their primary objective involves making distributions to exempt organizations that align with their charitable and educational mission. The organization's role primarily revolves around supporting other organizations with similar objectives, promoting learning and community engagement through art.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating.
The Art Museum of Greater Lafayette Foundation Inc has received a Two-Star rating from Charity Navigator, indicating that while it performs adequately, there are areas for improvement. The organization boasts a strong accountability and finance score of 73, with notable achievements such as a perfect score for having an independent board and for not having material diversions of assets. Additionally, it demonstrates efficient program spending, with 87.25% of its expenses allocated directly to programs.
However, the museum faces significant limitations in governance policies, as it is missing key documents like a conflict of interest policy, a whistleblower policy, and a document retention policy, which collectively have resulted in a low score in those areas. Furthermore, the absence of its tax form on the nonprofit's website may limit transparency for potential donors and stakeholders. Overall, while the organization shows strong financial management, enhancing its governance practices would likely improve its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Art Museum Of Greater Lafayette Foundation Inc legitimate?
Art Museum Of Greater Lafayette Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Art Museum Of Greater Lafayette Foundation 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:
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Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Art Museum Of Greater Lafayette Foundation Inc?
The Art Museum of Greater Lafayette Foundation Inc was established with a charitable and educational mission, falling under the category of Section 501(C)3 of the United States Internal Revenue Code of 1954. This organization's purpose includes making distributions to other qualifying exempt organizations under the same section, all with the aim of serving charitable and educational needs. The foundation's activities are geared towards promoting and advancing these causes, contributing to the betterment of society and knowledge.
Who is the CEO of Art Museum Of Greater Lafayette Foundation Inc?
Thomas Reed is the Director of Art Museum Of Greater Lafayette Foundation Inc.
What is the revenue of Art Museum Of Greater Lafayette Foundation Inc?
Art Museum Of Greater Lafayette Foundation Inc's revenue in 2022 was $89,102.
Who are the executives of Art Museum Of Greater Lafayette Foundation Inc and what are their salaries?
There 33 volunteers at Art Museum Of Greater Lafayette Foundation Inc.
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Where can I find the form 990 for Art Museum Of Greater Lafayette Foundation Inc?
Art Museum Of Greater Lafayette Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Art Museum Of Greater Lafayette Foundation Inc
Art Museum of Greater Lafayette Foundation Inc was established with a charitable and educational mission, falling under the umbrella of Section 501(C)3 of the United States Internal Revenue Code of 1954. The organization's purpose is multifaceted, encompassing the distribution of funds to other qualifying exempt organizations under Section 501(C)3 of the Internal Revenue Code. Their primary aim is to contribute to charitable and educational causes, striving to make a positive impact in various sectors. The Art Museum of Greater Lafayette Foundation Inc serves as a conduit for financial support to organizations that share its mission, contributing to a broader spectrum of charitable and educational initiatives.
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Impact
October, 2024
The Art Museum of Greater Lafayette Foundation Inc plays a significant role in promoting cultural enrichment and education within the community. By focusing on charitable and educational purposes, it facilitates access to the arts, fostering appreciation and understanding among diverse audiences.
The foundation supports various programs and initiatives that aid in the development of artistic talents and cultural awareness, benefiting both individual artists and the community at large. Through educational outreach, exhibitions, and partnerships with other organizations, it creates opportunities for engagement with the arts, encouraging creativity and critical thinking.
Moreover, by distributing resources to qualifying organizations, the foundation enhances the overall cultural landscape of Lafayette, ensuring that the arts remain an integral part of community life. Its impact is evident in the enrichment of the local cultural fabric, promoting not only the arts but also inclusivity and community cohesion.
This information is meant to be a general summary of Art Museum Of Greater Lafayette Foundation 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 2022.
- Investment Income: $81,852
- Gross Receipts: $89,102
Assets and Liabilities:
- Total Assets: $1,952,437
- Total Liabilities: $0
- Net Assets: $1,952,437
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Organization Details
Founding Year
1982
Phone
(765) 742-1128Principal Officer
Thomas Reed
Main Address
102 SOUTH 10TH STREET, LAFAYETTE, IN, 47905
NTEE Category
Code: A11 - Arts
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