LAFAYETTE ART ASSOCIATION

EIN: 726020860 501(c)(3) Arts, Culture & Humanities

Lafayette, LA

Total Revenue
$8,095
Total Expenses
$14,891
Total Assets
$56,422
Net Assets
$56,422
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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
1963
Legal Domicile
LA
Principal Officer
Terry Palmer
Phone
3372690363
Tax Period
2020-01-01 to 2020-12-31

LAFAYETTE ART ASSOCIATION, founded in 1963, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $8K in total revenue in fiscal year 2020. Revenue fell 72% from the prior year — a significant decline worth monitoring. Expenses of $15K exceeded revenue, resulting in a 84% operating deficit.

Mission

nonprofit art gallery

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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 (2020)

Revenue Breakdown

Contributions & Grants $25,473
Program Service Revenue $0
Investment Income $54
Other Revenue $-17,432
TOTAL REVENUE $8,095

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $14,891
Other Expenses $14,891
TOTAL EXPENSES $14,891

Year-over-Year Comparison

2020 2019 Change
Revenue $8,095 $29,044 -0.7%
Expenses $14,891 $21,770 -0.3%
Net Income $-6,796 $7,274 -1.9%
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
6
Independent Members
6
Employees
N/A
Volunteers
4

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
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Terry Palmer President 8
Officer
$0 $0 $0
Dusty Reed Vice President 2
Officer
$0 $0 $0
Margo Baker Vice President 2
Officer
$0 $0 $0
Mary LaCombe Recording Secretary 8
Officer
$0 $0 $0
Susan Chiqulein Corresponding Secretary 2
Officer
$0 $0 $0
Sharon Brotherton Treasurer 8
Officer
$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
2020 $8,095 $14,891 $56,422 $-6,796
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