Civic Intelligence

Laurel Arts Inc

990 • Fiscal year 2015 • EIN 25-1289972

Sep 01, 2014 to Aug 31, 2015 • Filed on Mar 18, 2016

PO Box 414Somerset, PA 15501

(814) 443-2433

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

70th percentile

0.32x

Higher debt load relative to assets than 70% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.72x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

12th percentile

-26%

Higher net margin than 12% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Assets

$1,085,983

No earlier filing loaded for comparison.

Net Assets

$737,409

No earlier filing loaded for comparison.

Liabilities

$348,574

No earlier filing loaded for comparison.

Revenue

$484,749

No earlier filing loaded for comparison.

Expenses

$608,824

No earlier filing loaded for comparison.

Net Income

-$124,075

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2015: $1,085,983Liabilities 2015: $348,574Net Assets 2015: $737,4092015Assets 2016: $942,105Liabilities 2016: $333,369Net Assets 2016: $608,7362016Assets 2017: $827,610Liabilities 2017: $357,736Net Assets 2017: $469,8742017Assets 2018: $766,471Liabilities 2018: $381,436Net Assets 2018: $385,0352018Assets 2019: $766,960Liabilities 2019: $389,087Net Assets 2019: $377,8732019Assets 2020: $666,341Liabilities 2020: $381,508Net Assets 2020: $284,8332020Assets 2021: $563,845Liabilities 2021: $238,698Net Assets 2021: $325,1472021Assets 2022: $560,173Liabilities 2022: $241,981Net Assets 2022: $318,1922022Assets 2023: $544,673Liabilities 2023: $259,899Net Assets 2023: $284,7742023Assets 2024: $451,583Liabilities 2024: $300,129Net Assets 2024: $151,4542024

Highlighted filing

2015

Assets$1,085,983
Liabilities$348,574
Net Assets$737,409

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2015: $484,749Expenses 2015: $608,824Net Income 2015: -$124,0752015Revenue 2016: $435,162Expenses 2016: $543,218Net Income 2016: -$108,0562016Revenue 2017: $323,778Expenses 2017: $467,061Net Income 2017: -$143,2832017Revenue 2018: $378,528Expenses 2018: $466,838Net Income 2018: -$88,3102018Revenue 2019: $478,311Expenses 2019: $485,235Net Income 2019: -$6,9242019Revenue 2020: $323,567Expenses 2020: $409,356Net Income 2020: -$85,7892020Revenue 2021: $467,754Expenses 2021: $411,424Net Income 2021: $56,3302021Revenue 2022: $478,347Expenses 2022: $485,302Net Income 2022: -$6,9552022Revenue 2023: $474,166Expenses 2023: $507,584Net Income 2023: -$33,4182023Revenue 2024: $423,810Expenses 2024: $557,130Net Income 2024: -$133,3202024

Highlighted filing

2015

Revenue$484,749
Expenses$608,824
Net Income-$124,075
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Mar 18, 2016
Return Version
2014v6.0
Gross Receipts
$541,546
Mission and Program Overview

Mission

Arts & cultural education

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$782,256$743,017▼ $39,239
Investments in Publicly Traded Securities$329,122$314,922▼ $14,200
Cash and Non-Interest-Bearing Accounts$4,523$15,629▲ $11,106
Prepaid Expenses and Deferred Charges-$5,965-
Accounts Receivable$180$3,248▲ $3,068
Savings and Temporary Cash Investments$1,063$1,360▲ $297
Inventories for Sale or Use$1,574$1,034▼ $540
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$1,121,026$1,085,983▼ $35,043
Other Assets Total$2,308$808▼ $1,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$102,318$213,840▲ $111,522
Unsecured Notes Loans Payable$89,500$100,033▲ $10,533
Accounts Payable and Accrued Expenses$35,671$34,111▼ $1,560
Deferred Revenue$4,000$590▼ $3,410
Total Liabilities$231,489$348,574▲ $117,085
Net Assets / Fund Balance
Unrestricted Net Assets$592,854$457,077▼ $135,777
Temporarily Rstr Net Assets$252,793$236,442▼ $16,351
Permanently Rstr Net Assets$43,890$43,890→ $0
Total Net Assets Fund Balance$889,537$737,409▼ $152,128
Total Liabilities and Net Assets / Fund Balance$1,121,026$1,085,983▼ $35,043

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$634,506$375,968$1,010,474
Other Land Buildings$86,337$80,662$166,999
Equipment$3,994$57,371$61,365
Land$18,180-$18,180

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$329,122-▲ $3,904$15,288$314,922
2013$297,032$1,000▲ $47,695$13,892$329,122
2012$288,558$1,000▲ $22,633$12,882$297,032
2011$245,205$25,500▲ $31,496$13,643$288,558
2010$236,396$900▲ $22,166$14,257$245,205
Compensation and Service Providers

Board Members and Trustees

NameTitle
Rebecca FlytePresident
Larry BarronVice President
Annette IsganDirector
Cathy WheelerDirector
David StarryDirector
Erin GlessnerDirector
Fred RosemeyerDirector
Harvey FrankelDirector
James G KnepperDirector
Jeff JohnsonDirector
John CascioDirector
Megan FlowerDirector
Sharon ClapperDirector
Cynthia BreenSecretary
Christopher WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$176,813
Program Service Revenue
$253,511
Investment Income
$32,029
Other Revenue
$22,396
All Other Contributions
$152,056
Change in Net Assets
$-124,075

Audited Revenue Reconciliation

Revenue per Audited Statements
$484,749
Revenue Not Reported on Form 990
$-28,053
Total Revenue per Audited Statements
$456,696
Total Revenue per Form 990
$484,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$320,347
Salaries, Compensation, and Employee Benefits$281,977
Total Fundraising Expense$31,112
Grants and Similar Amounts Paid$6,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$179,954$14,651$6,278$200,883
All Other Expenses$62,435$6,376$1,938$70,749
Occupancy$39,007$6,216$1,276$46,499
Current Officers, Directors, Trustees, and Key Employees$9,289$21,201$9,087$39,577
Depreciation Depletion$30,540$5,879$2,519$38,938
Payroll Taxes$24,558$4,282$1,835$30,675
Office Expenses$12,999$6,466$1,588$21,053
Insurance$12,085$6,262$2,684$21,031
Other Expenses$20,476$1,599$685$20,476
Interest$7,790$3,607-$11,397
Other Employee Benefits$6,133$3,296$1,413$10,842
Advertising$5,919$1,510$647$8,076
Fees for Services Accounting$4,477$2,407$1,031$7,915
Grants to Domestic Individuals$6,500--$6,500
Travel$1,346$218$93$1,657
Fees for Services Legal$166$89$38$293
Total Functional Expenses$493,653$84,059$31,112$608,824

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$608,824
Total Expenses per Audited Statements$608,824
Total Expenses per Form 990$608,824
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,350
Fundraising Direct Expenses$13,449
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf$18,297$18,297$3,238$15,059
Dinner$5,053$5,053$2,539$2,514
Total Events$23,350$23,350$13,449$9,901
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 upon completion is reviewed by the president of the board, a copy of the form is made available to board members for their review. The president signs and mails the completed form.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Annually each director, principal officer and members of committees with board delegated powers must sign a statement, stating that they 1) received a copy of the conflict of interest policy; 2) have read & understand the policy; 3) agrees to comply with the policy; and 4) understands that the organization is a charitable organization & to maintain its federal tax-exempt status must engage in activities which accomplish its tax-exempt purpose.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board periodically reviews activities that could jeopardize its tax-exempt status. At a minimum, reviews include 1) compensation arrangements & benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; and 2) arrangements between the organization and interest parties conform to written policies, are properly recorded, reflect reasonable investment and payment for goods & services for similarly qualified persons, further the organization's charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. All deliberations and decisions have comtemporaneous written documentation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All documents that are required to be available for public inspection are maintained at the organization's main office. Upon request, the documents are made available.

Filing and Contact Details

Filer

Filer Name
Laurel Arts Inc
EIN
25-1289972
Phone
8144432433
Address
PO BOX 414, SOMERSET, PA 15501

Signing Officer

Name
Rebecca Flyte
Title
President
Signed
2016-03-18
Discuss with paid preparer
Yes

Organization Details

Formed
1975
Legal Domicile
Pa
Voting Board Members
15
Independent Board Members
15
Employees
26
Volunteers
75

Preparer

Firm
Neil J Ickes CPA
Address
158 E UNION ST PO BOX 510, SOMERSET, PA 15501-0510
Preparer
Neil J Ickes CPA
Phone
8144454010
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Additional program services consist of providing information to members on the arts; in conjunction with local schools provide art related classes; at the beginning of the Christmas season conduct the first night of Christmas that begins the Christmas craft shoppe featuring the artistry of regional artists and craftsmen; maintain a permanent art collection. OTHER PROGRAM SERVICES 5: The gallery at the Dressler Center showcases student artists, local and non-local artists OTHER PROGRAM SERVICES 6: Laurel Arts offer various classes in the arts and health wellness throughout the year.

Form 990, Part IX, Line 24E: Other Expenses

ARTIST FEES & COMMISSIONS: Column (A) - Total = $11341; Column (B) - Program Services = $11341; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

AWARD EXPENSE: Column (A) - Total = $644; Column (B) - Program Services = $644; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

BEVERAGE EXPENSE: Column (A) - Total = $9329; Column (B) - Program Services = $9312; Column (C) - Management & General = $12; Column (D) - Fundraising = $5

Form 990, Part IX, Line 24E: Other Expenses

CHILDRENS AREA: Column (A) - Total = $22; Column (B) - Program Services = $22; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

COMPETITION EXPENSE: Column (A) - Total = $3409; Column (B) - Program Services = $3409; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

HOSPITALITY: Column (A) - Total = $4098; Column (B) - Program Services = $4031; Column (C) - Management & General = $47; Column (D) - Fundraising = $20

Form 990, Part IX, Line 24E: Other Expenses

INSTRUCTORS: Column (A) - Total = $3750; Column (B) - Program Services = $3750; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MEMBERSHIP COSTS: Column (A) - Total = $3385; Column (B) - Program Services = $1999; Column (C) - Management & General = $970; Column (D) - Fundraising = $416

Form 990, Part IX, Line 24E: Other Expenses

MISCELLANEOUS: Column (A) - Total = $2053; Column (B) - Program Services = $1756; Column (C) - Management & General = $207; Column (D) - Fundraising = $90

Form 990, Part IX, Line 24E: Other Expenses

Postage and Shipping: Column (A) - Total = $1600; Column (B) - Program Services = $1041; Column (C) - Management & General = $391; Column (D) - Fundraising = $168

Form 990, Part IX, Line 24E: Other Expenses

Printing and Publications: Column (A) - Total = $1294; Column (B) - Program Services = $831; Column (C) - Management & General = $463; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

RECITAL EXPENSE: Column (A) - Total = $2203; Column (B) - Program Services = $2203; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

REPAIRS & MAINTENANCE: Column (A) - Total = $8880; Column (B) - Program Services = $5153; Column (C) - Management & General = $2609; Column (D) - Fundraising = $1118

Form 990, Part IX, Line 24E: Other Expenses

RESTAURANT EXPENSE: Column (A) - Total = $3092; Column (B) - Program Services = $3092; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SCHOLARSHIPS: Column (A) - Total = $750; Column (B) - Program Services = $750; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SECURITY: Column (A) - Total = $2304; Column (B) - Program Services = $1900; Column (C) - Management & General = $283; Column (D) - Fundraising = $121

Form 990, Part IX, Line 24E: Other Expenses

SUPPLIES: Column (A) - Total = $10822; Column (B) - Program Services = $9428; Column (C) - Management & General = $1394; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TECHNICAL CREW: Column (A) - Total = $928; Column (B) - Program Services = $928; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

VOLUNTEER EXPENSE: Column (A) - Total = $845; Column (B) - Program Services = $845; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Financial Statement Notes

Part III, Line 1A: If organization elected under SFAS 116 to not report are, historical treasures, O

It is the Organization's practice not to capitalize donated art objects, therefore, these items have not been included as assets of the Organization. Each item is preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. An appraisal of donated art objects on hand was made in 2001 and the value was $76,000.

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

The Organization receives art objects that are displayed in its gallery, as well as, preserved for future public display.

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds were established to provide funds to assist in covering the operating costs in providing the various programs offered by the Organization and to maintain the dressler art center now known as Laurel Arts.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
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IRS990/FormationYr01975
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IRS990/ProgramServiceRevenueGrp/Desc3SOMERFEST
IRS990/ProgramServiceRevenueGrp/Desc4STUDIO KIDS PRESCHOOL
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt326099
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt448498
IRS990/ProgSrvcAccomActy2Grp/Desc0STUDIO KIDS PRE-SCHOOL & PRE-K SCHOLARSHIP ORGANIZATION - PROVIDE A PRESCHOOL PROGRAM WITH A UNIQUE ACADEMIC AND ARTS FOCUSED CURRICULUM. THE APPROACH CALLS FOR THE INTEGRATION OF THE ARTS AS A TOOL FOR COGNITIVE LINGUISTIC AND SOCIAL DEVELOPMENT. THE PROGRAM HAS PROVIDED SERVICES TO 38 STUDENTS. IN ADDITION TO OPERATING THEIR OWN PRE-SCHOOL PROGRAM, THE ORGANIZATION PROVIDES SCHOLARSHIPS TO PRE-K STUDENTS WITH FINANCIAL NEED TO ATTEND OTHER AREA PRE-SCHO0L PROGRAMS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt089340
IRS990/ProgSrvcAccomActy2Grp/GrantAmt06500

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