Overview
What is Friends Of The Lerner Inc?
Friends of The Lerner Inc. is a nonprofit organization based in Elkhart, Indiana, with a focus on supporting and enhancing the operations of the Lerner Theatre, a municipally owned performing arts venue and event space. Their mission involves providing financial and operational assistance to preserve and improve this historical facility, which serves as a cultural hub for the community. They aim to contribute to the theatre's success and ensure its continued operation as a vital part of Elkhart's heritage.
Official website here: www.friendsofthelerner.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Overall, Friends Of The Lerner Inc has received a Two-Star out of Four Star rating with a score of 61%. This rating reflects concerns in accountability and finance, highlighting areas where the organization could enhance its governance and transparency practices.
The nonprofit demonstrates strengths in several areas, such as having a fully independent board and no material diversion of assets. Additionally, a high program expense ratio of 97.11% indicates that the majority of its funding is directed toward its programs, which is a positive aspect of its financial management.
However, the organization has notable weaknesses, particularly in governance policies, as it lacks a conflict of interest policy, whistleblower policy, and document retention procedures. Furthermore, a concerning liabilities to assets ratio of 82.88% indicates potential financial stability issues that may need to be addressed for long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Lerner Inc legitimate?
Friends Of The Lerner Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Lerner 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.friendsofthelerner.org/
What is the mission statement of Friends Of The Lerner Inc?
Friends of The Lerner Inc's mission is centered around promoting, supporting, and providing financial and operational assistance to enhance the operations of a locally owned performing arts theatre and event space. Their primary goal is to improve the theatre's functionality and preserve its historical significance. The organization's activities aim to contribute to the theatre's overall success and longevity.
Official website here: www.friendsofthelerner.org/
Who is the CEO of Friends Of The Lerner Inc?
Rex Martin is the Director of Friends Of The Lerner Inc.
Official website here: www.friendsofthelerner.org/
What is the revenue of Friends Of The Lerner Inc?
Friends Of The Lerner Inc's revenue in 2022 was $467,606.
Official website here: www.friendsofthelerner.org/
Who are the executives of Friends Of The Lerner Inc and what are their salaries?
Here are 6 key members and their salaries:
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Official website here: www.friendsofthelerner.org/
Where can I find the form 990 for Friends Of The Lerner Inc?
Friends Of The Lerner Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.friendsofthelerner.org/
Learn more at the official website: www.friendsofthelerner.org/
Mission Statement of Friends Of The Lerner Inc
Friends of the Lerner Inc. is an organization dedicated to promoting, supporting, and providing financial and operational assistance to enhance the operations of a historically significant performing arts theatre and event space located in an unspecified city. The primary objective of this nonprofit is to improve and preserve the Lerner Theatre, a municipally owned venue, ensuring its continued operation as a cultural hub for the community. By offering financial and operational support, Friends of the Lerner Inc. plays a crucial role in preserving the historical facility and contributing to its long-term success.
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Impact
July, 2024
Friends Of The Lerner Inc's impact is centered around promoting, supporting, and providing financial and operational assistance to enhance the operations of the Lerner Theatre, a municipally owned performing arts theatre and event space in Elkhart, Indiana. They work towards the preservation of this historical facility, ensuring that it continues to thrive as a cultural hub for the community. Their efforts contribute to the enrichment of the arts scene in Elkhart and the overall public benefit of preserving a significant cultural landmark.
This information is meant to be a general summary of Friends Of The Lerner 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: $350
- Program Service Revenue: $365,971
- Gross Receipts: $467,606
Assets and Liabilities:
- Total Assets: $603,227
- Total Liabilities: $500,000
- Net Assets: $103,227
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET SALES
Revenue
$363,641
SEAT SALES
Revenue
$1,750
VPI: TOUR INCOME
Revenue
$580
Organization Details
Founding Year
2014
Phone
(574) 293-4469Principal Officer
Rex Martin
Main Address
410 S MAIN ST, ELKHART, IN, 46516
Website
www.friendsofthelerner.org/NTEE Category
Code: W99 - Public benefit
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