LAFAYETTE BAND ASSOCIATIOIN INC

EIN: 611163112 501(c)(3)

LEXINGTON, KY

Total Revenue
$747,711
Total Expenses
$698,903
Total Assets
$159,662
Net Assets
$156,932
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
KY
Principal Officer
JOSEPH SOSBY
Phone
8592763573
Tax Period
2024-06-01 to 2025-05-31

LAFAYETTE BAND ASSOCIATIOIN INC, founded in 1959, is a small nonprofit that reported $748K in total revenue in fiscal year 2024. Revenue surged 38% from the prior year, signaling strong growth momentum. Expenses of $699K left a modest 7% surplus.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO LEND SUPPORT, BOTH MORAL AND FINANCIAL, TO THE LAFAYETTE HIGH SCHOOL BAND PROGRAM.TO COOPERATE WITH THE BAND DIRECTORS IN ORDER TO PRODUCE THE HIGHEST DEGREE OF PERFORMANCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $244,972
Program Service Revenue $178,537
Investment Income $1,578
Other Revenue $322,624
TOTAL REVENUE $747,711

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $676,402
Other Expenses $698,903
TOTAL EXPENSES $698,903

Year-over-Year Comparison

2024 2023 Change
Revenue $747,711 $541,970 +0.4%
Expenses $698,903 $577,745 +0.2%
Net Income $48,808 $-35,775 -2.4%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
13
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
6
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARGARET GRIMM PRESIDENT N/A
Officer Director
$0 $0 $0
BRITTANY KOENIG SECRETARY N/A
Officer Director
$0 $0 $0
ERIN THOMAS VICE PRESIDE N/A
Officer Director
$0 $0 $0
SARAH HILLARD VICE PRESIDE N/A
Officer Director
$0 $0 $0
JOSEPH SOSBY TREASURER N/A
Officer Director
$0 $0 $0
OTIS SINGLETON ASST. TREASU N/A
Officer Director
$0 $0 $0
JUILE BECK DIRECTOR N/A
Director
$0 $0 $0
EMILY TILETT DIRECTOR N/A
Director
$0 $0 $0
MATT BECK DIRECTOR N/A
Director
$0 $0 $0
KAYLA THOMAS DIRECTOR N/A
Director
$0 $0 $0
JACI REYNOLDS DIRECTOR N/A
Director
$0 $0 $0
BRAD MORRIS DIRECTOR N/A
Director
$0 $0 $0
KYLIE WHIPPLE DIRECTOR N/A
Director
$0 $0 $0
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
2025 $747,711 $698,903 $159,662 $48,808
2024 $541,970 $577,745 $125,019 $-35,775
2023 $522,815 $553,113 $151,415 $-30,298
2022 $419,939 $358,061 $190,820 $61,878
2021 $162,696 $151,778 $137,420 $10,918
2020 $458,220 $460,780 $111,504 $-2,560
2019 $379,086 $398,051 $249,969 $-18,965
2018 $436,775 $367,581 $187,404 $69,194
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