Overview
What is Luminarts Cultural Foundation?
Luminarts Cultural Foundation, based in Chicago, Illinois, is a dedicated nonprofit organization with a mission to nurture the city's thriving arts community. They achieve this by empowering exceptional young artists through competitive programs. These programs provide meaningful financial awards, artistic opportunities, and mentorship, helping to bridge the gap between education and career. With a small workforce of three individuals, Luminarts Cultural Foundation plays a significant role in fostering the growth and success of aspiring artists, thereby enriching Chicago's cultural landscape.
Official website here: www.luminarts.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Luminarts Cultural Foundation has received a solid Three-Star rating from Charity Navigator, primarily based on its accountability and finance. The charity scored 88% in this area, reflecting strong governance practices, including a fully independent board and no material diversion of assets. The organization demonstrates a healthy financial structure with a low liabilities to assets ratio and a strong program expense ratio, indicating that a significant portion of its funds is allocated toward its mission.
Despite its strengths, there are notable areas for improvement, specifically in governance policies. The foundation lacks a whistleblower policy and a document retention and destruction policy, which can be crucial for transparency and accountability. Additionally, the absence of the tax form on its website is a potential gap in providing stakeholders with crucial financial information.
Overall, while Luminarts Cultural Foundation operates effectively in many respects, addressing the identified deficiencies in its governance policies could enhance its credibility and operational transparency. This organization is positioned well within its sector, but greater adherence to best practices in nonprofit management could further strengthen its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Luminarts Cultural Foundation legitimate?
Luminarts Cultural Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Luminarts Cultural Foundation 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: $191,174
Professional Fundraising Fees: $0
Other Salaries and Wages: $151,337
For more financial information, click here
Official website here: www.luminarts.org
What is the mission statement of Luminarts Cultural Foundation?
The Luminarts Cultural Foundation plays a significant role in nurturing Chicago's vibrant arts community by backing outstanding young artists. They achieve this through their competitive programs, which provide financial rewards, artistic opportunities, and mentoring. These initiatives help bridge the gap between education and career, thereby fostering the growth and success of these talented individuals. The foundation's mission is to support these young artists, thereby enriching the arts landscape in Chicago.
Official website here: www.luminarts.org
Who is the CEO of Luminarts Cultural Foundation?
Jason Kalajainen is the Past President of Luminarts Cultural Foundation.
Official website here: www.luminarts.org
What is the revenue of Luminarts Cultural Foundation?
Luminarts Cultural Foundation's revenue in 2023 was $1,851,663.
Official website here: www.luminarts.org
Who are the executives of Luminarts Cultural Foundation and what are their salaries?
The average compensation at Luminarts Cultural Foundation during 2023 was $114,170. There are 3 employees at Luminarts Cultural Foundation.
Here are 29 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $182,054
- Related: $0
- Other: $0
Official website here: www.luminarts.org
Where can I find the form 990 for Luminarts Cultural Foundation?
Luminarts Cultural Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.luminarts.org
Learn more at the official website: www.luminarts.org
Mission Statement of Luminarts Cultural Foundation
Luminarts Cultural Foundation is an organization dedicated to nurturing Chicago's thriving arts community by championing outstanding young artists. They achieve this goal through their competitive programs, which provide a blend of financial awards, artistic opportunities, and mentoring. These initiatives serve to bridge the gap between education and career, ultimately fostering the growth and development of these talented individuals. By supporting these rising stars, Luminarts Cultural Foundation plays a significant role in cultivating Chicago's vibrant arts scene.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Luminarts Cultural Foundation significantly impacts Chicago's vibrant arts community by supporting exemplary young artists. Through competitive programs, it provides financial awards, artistic opportunities, and mentorship, effectively bridging the gap between education and career. This support fosters artistic growth and development, empowering emerging talent to thrive in their chosen disciplines. By nurturing these artists, Luminarts enhances the cultural landscape of Chicago, encouraging creativity and innovation within the arts.
This information is meant to be a general summary of Luminarts Cultural Foundation. 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: $405,708
- Gross Receipts: $3,776,124
Assets and Liabilities:
- Total Assets: $3,055,011
- Total Liabilities: $4,646
- Net Assets: $3,050,365
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1949
Phone
(312) 427-7800Principal Officer
Jason Kalajainen
Main Address
65 WEST JACKSON RMSTE 901, CHICAGO, IL, 60604
Website
www.luminarts.orgNTEE Category
Code: A90 - Arts
If you are a representative of Luminarts Cultural Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.