HISTORIC LEXINGTON FOUNDATION

EIN: 546069177 501(c)(3) Arts, Culture & Humanities

LEXINGTON, VA

Total Revenue
$119,424
Total Expenses
$124,107
Total Assets
$1,310,995
Net Assets
$1,291,566
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1966
Legal Domicile
VA
Principal Officer
LARRY WIESE
Phone
5404636832
Tax Period
2024-01-01 to 2024-12-31

HISTORIC LEXINGTON FOUNDATION, founded in 1966, is a small nonprofit in the Arts, Culture & Humanities sector that reported $119K in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. Net assets of $1.3M represent 130 months of operating reserves.

Mission

HISTORIC LEXINGTON FOUNDATION (HLF) IS A NON-PROFIT ORGANIZATION PROMOTING THE PRESERVATION OF THE RICH ARCHITECTURAL AND RELATED HISTORIC RESOURCES OF ROCKBRIDGE COUNTY, VIRGINIA. INCORPORATED IN 1966, AT A TIME WHEN MANY OF LEXINGTON'S BUILDINGS WERE THREATENED WITH DEMOLITION BY NEGLECT, HLF TODAY SUPPORTS AND INTERPRETS THE HERITAGE AND FABRIC OF LEXINGTON, BUENA VISTA, AND ROCKBRIDGE COUNTY.

Program Service Accomplishments

Program 1
Expenses: $31,837 Revenue: $4,252

EDUCATION OF THE PUBLIC ABOUT HISTORIC PRESERVATION, ACQUISITION, STABILIZATION, RESTORATION, RENOVATION AND REUSE OF HISTORIC PROPERTIES

Program 2
Expenses: $50,699 Revenue: $500

PRESERVATION AND HISTORIC MARKER PROGRAM

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $54,318
Program Service Revenue $4,752
Investment Income $60,354
Other Revenue $0
TOTAL REVENUE $119,424

Expense Breakdown

Grants Paid $50,699
Salaries & Benefits $22,238
Fundraising Expenses $8,811
Program Expenses $82,536
Other Expenses $51,170
TOTAL EXPENSES $124,107

Year-over-Year Comparison

2024 2023 Change
Revenue $119,424 $72,038 +0.7%
Expenses $124,107 $99,849 +0.2%
Net Income $-4,683 $-27,811 -0.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
19
Independent Members
18
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$22,238
Total Directors
17
$22,238
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARRY WIESE PRESIDENT 0.00
Officer Director
$0 $0 $0
JIM BUSCH VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
CHARLES RAPPOLD TREASURER 0.00
Officer Director
$0 $0 $0
LINDA PRESLEY-BEAUFORD SECRETARY 0.00
Officer Director
$0 $0 $0
DEE JOYCE-HAYES PAST PRESIDENT 0.00
Director
$0 $0 $0
TOM CAMDEN DIRECTOR 0.00
Director
$0 $0 $0
TOM CONTOS DIRECTOR 0.00
Director
$0 $0 $0
BYRON FAIDLEY DIRECTOR 0.00
Director
$0 $0 $0
LESLIE GILES DIRECTOR 0.00
Director
$0 $0 $0
CATHERINE HARCUS DIRECTOR 0.00
Director
$0 $0 $0
JOAN HARDEN DIRECTOR 0.00
Director
$0 $0 $0
SUSAN MINOR DIRECTOR 0.00
Director
$0 $0 $0
BRUCE MACDONALD EMERITUS BOARD MEMBER 0.00
Director
$0 $0 $0
MICHAEL PERRY DIRECTOR 0.00
Director
$0 $0 $0
NAN WOLF DIRECTOR 0.00
Director
$0 $0 $0
NANCY SULLIVAN DIRECTOR 0.00
Director
$0 $0 $0
MARGARET SAMDAHL EXECUTIVE DIRECTOR 20.00
Officer Director
$22,238 $0 $22,238
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $119,424 $124,107 $1,310,995 $-4,683
2023 $72,038 $99,849 $1,213,828 $-27,811
2022 $-98,267 $106,161 $1,104,451 $-204,428
2021 $186,090 $132,242 $1,455,188 $53,848
2020 $938,397 $98,420 $1,410,244 $839,977
2019 $52,059 $66,231 $521,873 $-14,172
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