Civic Intelligence

Laurel Arts Inc

990 • Fiscal year 2020 • EIN 25-1289972

Sep 01, 2019 to Aug 31, 2020 • Filed on Jul 09, 2021

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

86th percentile

0.57x

Higher debt load relative to assets than 86% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

1.18x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

14th percentile

-27%

Higher net margin than 14% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

10th percentile

-13%

Faster asset growth than 10% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

18th percentile

-32%

Faster revenue growth than 18% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Down

$666,341

Down $100,619 (-13%) from 2019

Net Assets

Down

$284,833

Down $93,040 (-25%) from 2019

Liabilities

Down

$381,508

Down $7,579 (-1.9%) from 2019

Revenue

Down

$323,567

Down $154,744 (-32%) from 2019

Expenses

Down

$409,356

Down $75,879 (-16%) from 2019

Net Income

Down

-$85,789

Down $78,865 (-1139%) from 2019

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

2020

Assets$666,341
Liabilities$381,508
Net Assets$284,833

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

2020

Revenue$323,567
Expenses$409,356
Net Income-$85,789
Jump To
Filing Snapshot
Filing Period
Sep 1, 2019 to Aug 31, 2020
Signed
Jul 9, 2021
Return Version
2019v5.0
Gross Receipts
$464,095
Mission and Program Overview

Mission

Arts & cultural education

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$604,518$500,250▼ $104,268
Investments in Publicly Traded Securities$116,139$122,589▲ $6,450
Cash and Non-Interest-Bearing Accounts$17,189$27,937▲ $10,748
Savings and Temporary Cash Investments$25,829$8,861▼ $16,968
Accounts Receivable$2,807$2,064▼ $743
Prepaid Expenses and Deferred Charges$250$0▼ $250
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-
Inventories for Sale or Use-$0-
Total Assets$766,960$666,341▼ $100,619
Other Assets Total$228$4,640▲ $4,412
Liabilities
Mortgage Notes Payable Secured by Investment Property$180,948$176,836▼ $4,112
Unsecured Notes Loans Payable$119,149$130,986▲ $11,837
Accounts Payable and Accrued Expenses$78,362$69,008▼ $9,354
Deferred Revenue$10,628$4,678▼ $5,950
Total Liabilities$389,087$381,508▼ $7,579
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$267,781$176,825▼ $90,956
Net Assets With Donor Restrictions$110,092$108,008▼ $2,084
Total Net Assets Fund Balance$377,873$284,833▼ $93,040
Total Liabilities and Net Assets / Fund Balance$766,960$666,341▼ $100,619

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$412,017$452,336$864,353
Other Land Buildings$68,779$111,953$180,732
Equipment$1,274$60,091$61,365
Land$18,180-$18,180

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$116,139-▲ $13,640$6,222$122,589
2018$118,080-▲ $6,343$7,311$116,139
2017$139,078-▲ $13,101$33,105$118,080
2016$181,196-▲ $12,701$53,285$139,078
2015$314,922-▲ $9,636$140,726$181,196
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brooke SheelerPresident
Erin GlessnerVice President
Allison FinuiDirector
Becca Frola-bissDirector
Cindy BreenDirector
Fred RosemeyerDirector
Mark SpikerDirector
Mike BeechDirector
Mike MitchellDirector
Nina JohnsonDirector
Robin HenleyDirector
Sharon ClapperDirector
William HoffmanDirector
Jeff JohnsonSecretary
Mark AddlemanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$109,609
Program Service Revenue
$166,605
Investment Income
$26,148
Other Revenue
$21,205
All Other Contributions
$102,247
Change in Net Assets
$-85,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$208,552
Salaries, Compensation, and Employee Benefits$200,804
Total Fundraising Expense$30,897
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$107,765$30,092$12,897$150,754
Occupancy$36,513$10,022$846$47,381
Depreciation Depletion$28,839$4,047$1,734$34,620
Current Officers, Directors, Trustees, and Key Employees-$18,674$8,003$26,677
Payroll Taxes$14,476$6,228$2,669$23,373
Insurance$11,935$4,597$1,970$18,502
Office Expenses$12,834$3,302$1,023$17,159
Interest$11,454$2,839-$14,293
All Other Expenses$9,263$1,392$597$11,252
Advertising$5,941$4$2$5,947
Fees for Services Accounting$3,200$1,448$621$5,269
Other Expenses$4,522$9$4$4,535
Fees for Services Other$94$61-$155
Total Functional Expenses$294,505$83,954$30,897$409,356
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$12,449
Fundraising Direct Expenses$4,134
Professional Fundraising Fees$0
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Brooke Sheeler
Title
President
Signed
2021-07-09
Discuss with paid preparer
Yes

Organization Details

Formed
1975
Legal Domicile
Pa
Voting Board Members
15
Independent Board Members
15
Employees
22
Volunteers
55

Preparer

Firm
Neil J Ickes CPA
Address
158 E UNION ST PO BOX 510, SOMERSET, PA 15501
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: classes - conduct summer camps in the arts and theatre. The program has provided services to 75 students. Other program services 5: maintain a year around art gallery which is open to the public and showcases student, local and non-local artists.offer various classes in the arts and health wellness throughout the year.additional program services consist of providing information to members on the arts; in conjuction with local schools provide art related classes; at the beginning of the christmas season conduct the first night of christmas which begins the christmas craft shoppe featuring the artistry of regional artists and craftsmen; maintain a permanent art collection. Other program services 6: other events - laurel provided art related activities for the community during the year. These events included various music on the lawn, uptown mural, and imagination garden.

Financial Statement Notes

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

Periodically, donations of art are made to the Organization. The Organization's policy is not to record donated art objects due to the complexity involved with appraisals, therefore, these items have not been included as assets of the Organization. Each item is preserved and cared for, and the activities verifying their existence and assessing their condition are performed continuously.

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/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
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IRS990/ProgramServiceRevenueGrp/Desc4STUDIO KIDS PRESCHOOL
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IRS990/ProgSrvcAccomActy2Grp/Desc0STUDIO KIDS PRE-SCHOOL - 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 32 STUDENTS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0OTHER EVENTS - LAUREL PROVIDED ART RELATED ACTIVITIES FOR THE COMMUNITY DURING THE YEAR. THESE EVENTS INCLUDED VARIOUS MUSIC ON THE LAWN, UPTOWN MURAL, AND IMAGINATION GARDEN.
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