Overview
What is Lafayette Museum Association Inc?
Lafayette Museum Association Inc is a nonprofit organization with a primary focus on preserving and showcasing historical artifacts and stories. Based on the provided information, their mission revolves around the restoration and operation of the Lafayette Museum, a historical museum situated within their remit. This museum serves as a valuable resource for education and appreciation of local history, catering to a wide audience. The organization's commitment to historical conservation and public access to historical knowledge is evident through its dedication to the Lafayette Museum.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating)
Lafayette Museum Association Inc has received a 73% rating from Charity Navigator, indicating a fair level of performance in terms of accountability and finance. The organization demonstrates strong governance practices with 100% of its board members being independent, and it has effectively managed its assets, posting a low liabilities-to-assets ratio of 5.62%. Additionally, the museum allocates a significant portion of its funds to program expenses, with a program expense ratio of 98.37%.
However, there are notable limitations highlighted in the evaluation. The lack of essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy negatively impacted the organization’s overall score. Furthermore, the absence of tax documents on the nonprofit's website is a significant oversight, which resulted in a zero score in this category.
Overall, while Lafayette Museum Association Inc has strengths in its governance and financial management, the absence of critical policies and transparency measures could pose concerns for potential donors and stakeholders. Addressing these gaps could enhance its accountability and bolster confidence in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Lafayette Museum Association Inc legitimate?
Lafayette Museum Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lafayette Museum Association 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: $22,720
For more financial information, click here
What is the mission statement of Lafayette Museum Association Inc?
The Lafayette Museum Association's mission revolves around the restoration and operation of a historical museum. This museum, categorized under history museums, serves as the focus of their activities. The association's primary goal is to preserve and showcase historical artifacts and narratives, providing visitors with an educational and engaging experience. By restoring and operating the museum, the association contributes to the preservation of the past, fostering a greater understanding of history for present and future generations.
Who is the CEO of Lafayette Museum Association Inc?
Laura Ann Edwards is the Secretary of Lafayette Museum Association Inc.
What is the revenue of Lafayette Museum Association Inc?
Lafayette Museum Association Inc's revenue in 2023 was $133,521.
Who are the executives of Lafayette Museum Association Inc and what are their salaries?
The average compensation at Lafayette Museum Association Inc during 2023 was $7,573. There are 3 employees at Lafayette Museum Association Inc.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Lafayette Museum Association Inc?
Lafayette Museum Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lafayette Museum Association Inc
The Lafayette Museum Association, a nonprofit organization, is dedicated to the restoration and operation of the Lafayette Museum. This institution falls under the category of history museums, making it a significant resource for preserving and showcasing historical artifacts and stories. The association's mission is to maintain the Lafayette Museum in a state of restoration, ensuring that it remains an accessible and educational space for visitors. By operating the museum, the Lafayette Museum Association contributes to the broader historical discourse, allowing individuals to engage with the past and gain a deeper understanding of their heritage.
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Impact
October, 2024
The Lafayette Museum Association Inc significantly impacts the community by preserving and promoting the rich historical heritage of Lafayette, Louisiana. Through the restoration and operation of the Lafayette Museum, it serves as a vital resource for education and cultural enrichment. The museum provides visitors with insights into local history, fostering a sense of identity and connection among residents.
By showcasing artifacts and hosting events, the association engages the community and encourages participation in the arts and cultural activities. Its efforts help to create a space where history is not only preserved but actively shared, making it accessible to future generations. This dedication to heritage conservation contributes to the overall cultural landscape of Lafayette, enhancing tourism and community pride. The association's work ensures that the stories and traditions of the region remain vibrant and relevant, making a lasting impact on both the local population and visitors.
This information is meant to be a general summary of Lafayette Museum Association 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 2023.
- Investment Income: $9,659
- Program Service Revenue: $4,330
- Gross Receipts: $146,567
Assets and Liabilities:
- Total Assets: $485,849
- Total Liabilities: $27,349
- Net Assets: $458,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS
Revenue
$4,330
Organization Details
Phone
(337) 234-2208Principal Officer
Laura Ann Edwards
Main Address
1122 LAFAYETTE STREET, LAFAYETTE, LA, 705016838
NTEE Category
Code: A540 - Arts
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