Overview
What is Lexington Center Corporation?
The Lexington Center Corporation, located at 430 West Vine Street in Lexington, Kentucky (zip code 40507), is a nonprofit organization dedicated to providing public facilities for community enjoyment. These facilities include an arena, exhibition hall, historic theater, and parking lots. The mission of Lexington Center Corporation is to enhance communities by offering unique, shared experiences through these offerings. In total, the organization employs 362 individuals.
Official website here: www.centralbankcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Lexington Center Corporation has received a Three-Star rating from Charity Navigator, reflecting an overall score of 83%. This rating is derived solely from its Accountability & Finance metrics, which suggest a strong commitment to financial transparency and governance practices. The organization has achieved full scores in several key areas, including a board comprised entirely of independent members and the presence of robust financial oversight mechanisms.
The nonprofit demonstrates effective use of its resources, with a program expense ratio of 97.24%, indicating that the vast majority of its funds are directed towards its core mission. Positive aspects also include well-documented policies for conflict of interest and whistleblower protection, contributing to a culture of accountability within the organization.
However, a notable area for improvement is the liabilities to assets ratio, which stands at 66.95%. This suggests that while the organization is managing its finances responsibly, it may have a relatively high level of liabilities compared to its assets, which could raise concerns about financial stability in the long term. Overall, while Lexington Center Corporation shows strong accountability practices, stakeholders might want to consider the implications of its financial ratios.
This AI summary has been generated from information found on Charity Navigator.
Is Lexington Center Corporation legitimate?
Lexington Center Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexington Center Corporation 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: $1,564,544
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,500,882
For more financial information, click here
Official website here: www.centralbankcenter.com
What is the mission statement of Lexington Center Corporation?
The Lexington Center Corporation strives to enhance communities by offering innovative shared experiences through its facilities. This mission is executed by providing public spaces for gatherings and events. Among the facilities under their management are an arena, an exhibition hall, a historic theater, and parking lots. These venues serve as platforms for bringing people together, fostering community engagement, and creating memorable experiences.
Official website here: www.centralbankcenter.com
Who is the CEO of Lexington Center Corporation?
Jeffrey Mullaney is the Board Chair of Lexington Center Corporation.
Official website here: www.centralbankcenter.com
What is the revenue of Lexington Center Corporation?
Lexington Center Corporation's revenue in 2022 was $33,922,346.
Official website here: www.centralbankcenter.com
Who are the executives of Lexington Center Corporation and what are their salaries?
The average compensation at Lexington Center Corporation during 2022 was $13,993. There are 362 employees and 350 volunteers at Lexington Center Corporation.
Here are 27 key members and their salaries:
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- Compensation: $271,713
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Official website here: www.centralbankcenter.com
Where can I find the form 990 for Lexington Center Corporation?
Lexington Center Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.centralbankcenter.com
Learn more at the official website: www.centralbankcenter.com
Mission Statement of Lexington Center Corporation
The Lexington Center Corporation is a mission-driven organization that strives to enhance communities through innovative shared experiences. In accomplishing this goal, the corporation provides a range of facilities for public use. Among these facilities are an arena, an exhibition hall, a historic theater, and parking lots.
By offering these venues, the Lexington Center Corporation creates opportunities for individuals to come together and engage in activities that foster a sense of community. The arena, in particular, serves as a hub for various events, attracting people from all walks of life. Whether it's a music concert, a sports game, or a community gathering, the arena provides a space where people can connect and build memories.
Similarly, the exhibition hall caters to a diverse array of interests, hosting shows, conventions, and trade exhibitions. These events bring together enthusiasts, experts, and businesses, promoting learning, networking, and the exchange of ideas. The historic theater, on the other hand, offers a cultural escape, presenting a rich tapestry of arts and performances that enrich the community's cultural landscape.
Through these facilities, the Lexington Center Corporation plays a crucial role in fostering a vibrant, engaged community where people can come together, learn, grow, and be inspired. The organization's dedication to enhancing communities through innovative shared experiences sets the stage for a more connected and enriched society.
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Impact
October, 2024
Lexington Center Corporation plays a crucial role in enhancing the community in Lexington, KY, by providing diverse facilities for public use. Its offerings, which include an arena, exhibition hall, historic theater, and parking lots, serve as hubs for various events and activities, promoting cultural, entertainment, and recreational experiences.
By fostering innovative shared experiences, Lexington Center Corporation helps to strengthen community ties, attract visitors, and support local businesses. The corporation's commitment to enhancing community engagement contributes significantly to the vibrancy and growth of Lexington, making it a key player in the area's social and economic development.
This information is meant to be a general summary of Lexington Center Corporation. 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: $333,351
- Program Service Revenue: $32,045,910
- Gross Receipts: $33,922,346
Assets and Liabilities:
- Total Assets: $368,571,113
- Total Liabilities: $248,729,427
- Net Assets: $119,841,686
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT REVENUE
Revenue
$15,440,880
TRANSIENT ROOM TAX REVENUE
Revenue
$8,495,475
CONTRACT REVENUE
Revenue
$7,878,345
PERSONAL PROPERTY RENTAL
Revenue
$133,710
LEXINGTON-FAYETTE COUNTY REC
Revenue
$97,500
Organization Details
Founding Year
1972
Phone
(859) 233-4567Principal Officer
Jeffrey Mullaney
Main Address
430 WEST VINE STREET, LEXINGTON, KY, 405071617
Website
www.centralbankcenter.comNTEE Category
Code: S20 - Community improvement
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