Overview
What is Lexarts Inc?
Lexarts Inc, located in Lexington, Kentucky, serves as a significant pillar in the community's arts and cultural sector. As a nonprofit organization, it raises funds annually and distributes them to five primary partners and over 20 additional arts organizations. This support is provided through both general operating grants and project-specific funding, with a focus on organizations that demonstrate financial stability, artistic quality, and a commitment to serving youth, diverse, and underserved audiences. The application process is rigorous, emphasizing audience size, community participation, collaboration, and evaluation. Lexarts Inc's mission is to promote quality arts experiences for the benefit of the people in Central Kentucky, accomplishing this through various initiatives such as funding, advocacy, technical assistance, communication, and planning. With a dedicated team of 13 employees, Lexarts Inc plays a vital role in enriching the local arts landscape.
Official website here: www.lexarts.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 50%, One-Star out of Four Star rating.
Lexarts Inc has received a low rating of 50% from Charity Navigator, which indicates concerns over its accountability and financial health. While the organization boasts a strong independent board, with 96% of members being independent, it lacks transparency in its financial statements, receiving a score of zero in that area. Despite some aspects of governance being well-managed, such as conflict of interest and whistleblower policies, the overall financial picture raises red flags.
User feedback from Great Nonprofits presents a more positive perspective, with a donor praising the engaging events organized by Lexarts, such as Horsemania 2010 and Gallery Hops. The reviewer highlights the organization's role in promoting local art and providing enjoyable experiences for the community. This suggests that while the financial practices may need improvement, the organization is making a meaningful impact in the local arts scene.
However, the contrasting ratings between the two sources highlight a limitation in Lexarts' overall operational effectiveness. The nonprofit's high program expense ratio indicates that a significant portion of its resources may not be directed towards its mission, raising further concerns about its sustainability and impact going forward.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Lexarts Inc legitimate?
Lexarts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexarts 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: $80,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $329,776
For more financial information, click here
Official website here: www.lexarts.org
What is the mission statement of Lexarts Inc?
Lexarts Inc, through its mission, strives to enhance the arts and cultural scene in the community. This is achieved by promoting quality artistic experiences for the benefit of the people in central Kentucky. The organization accomplishes this goal through various initiatives, including funding, advocacy, technical assistance, communication, and planning. Lexarts provides financial support to five partner organizations, ensuring their operational sustainability, and grants to over 20 arts organizations for specific projects. The grant application process is rigorous, prioritizing financial stability, artistic quality, and services to youth, diverse, and underserved audiences. Audience size, community participation, collaboration, and evaluation are key considerations in the selection process.
Official website here: www.lexarts.org
Who is the CEO of Lexarts Inc?
Amelia M Sweetall is the Principal Officer of Lexarts Inc. The CEO's salary of Lexarts Inc is $80,500 and their total compensation is $81,130.
Official website here: www.lexarts.org
What is the revenue of Lexarts Inc?
Lexarts Inc's revenue in 2022 was $2,039,631.
Official website here: www.lexarts.org
Who are the executives of Lexarts Inc and what are their salaries?
The average compensation at Lexarts Inc during 2022 was $31,560. There are 13 employees and 450 volunteers at Lexarts Inc.
Here are 28 key members and their salaries (Lexarts Inc's CEO's salary is $80,500 and their total compensation is $81,130):
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Official website here: www.lexarts.org
Where can I find the form 990 for Lexarts Inc?
Lexarts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lexarts.org
Learn more at the official website: www.lexarts.org
Mission Statement of Lexarts Inc
Lexarts Inc, a non-profit organization, is dedicated to enhancing arts and cultural experiences within the community. Their mission is multifaceted, involving promoting high-quality arts events for the benefit of the people living in Central Kentucky. They achieve this through various initiatives, including funding, advocacy, technical assistance, communication, and planning.
Lexarts Inc plays a significant role in supporting local arts organizations. They distribute funds raised through their annual Fund for the Arts to five partner organizations, providing them with general operating support (GOS). Additionally, Lexarts grants funds to over 20 other arts organizations, offering them program and project grants. The application process for these grants is rigorous, demanding evidence of financial stability and artistic quality. The organization prioritizes serving youth and underserved audiences, emphasizing factors such as audience size, community participation, collaboration, and evaluation.
Lexarts Inc's review process for these grants is thorough. Applications and financial information are scrutinized by their staff, then evaluated by a panel of peer reviewers in an open public process. The evaluations are further reviewed by Lexarts' Grants Committee and finally approved by the Lexarts Board of Directors as a whole. This rigorous process ensures that the funds distributed by Lexarts are effectively used to promote and support the arts within the community.
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Impact
July, 2024
Lexarts Inc has a significant impact on the community by providing arts and cultural services to the people in Central Kentucky. Through rigorous grant processes, they distribute funds to partner organizations and numerous arts organizations, ensuring financial stability and artistic quality. By emphasizing service to youth, diverse and underserved audiences, audience size, community participation, collaboration, and evaluation, Lexarts Inc plays a vital role in promoting quality arts experiences in the region.
This information is meant to be a general summary of Lexarts 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: $28,568
- Program Service Revenue: $198,973
- Gross Receipts: $2,175,507
Assets and Liabilities:
- Total Assets: $3,662,877
- Total Liabilities: $2,434,965
- Net Assets: $1,227,912
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ARTY PARTIES
Revenue
$80,026
MANAGEMENT FEE
Revenue
$77,863
SPECIAL EVENTS
Revenue
$31,867
GALLERY HOP
Revenue
$9,217
Organization Details
Founding Year
1985
Phone
(859) 255-2951Principal Officer
Amelia M Sweetall
Main Address
161 NORTH MILL STREET, LEXINGTON, KY, 40507
Website
www.lexarts.orgNTEE Category
Code: A26Z - Arts
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