Lamb Arts Ltd FY2024 filing

Tax-deductible

Sioux City, IA501(c)(3)Since 2005Arts & CultureEIN 20-3694629

The mission of lamb arts regional theatre and school is to showcase outstanding theatrical productions and innovative arts curriculum that enriches lives in siouxland.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $152K a year · 36% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
27 mo
of spending, in cash
Looks good: 26.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $32K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$287K
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$209K
-56% vs prior year
Spent
$413K
To programs
88%
Net assets
$640K
By yearFY2020–FY2025
Revenue
$209K
FY2024▼ -56%
Revenue by fiscal year
FY2020$545K
FY2021$526K
FY2022$513K
FY2023$471K
FY2024$209K
FY2025$257K
Expenses
$413K
FY2024▲ +93%
Expenses by fiscal year
FY2020$289K
FY2021$175K
FY2022$276K
FY2023$214K
FY2024$413K
FY2025$241K
Net assets
$640K
FY2024▼ -76%
Net assets by fiscal year
FY2020$1.0M
FY2021$1.4M
FY2022$1.2M
FY2023$2.6M
FY2024$640K
FY2025$645K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $363K Management & general 10% · $43K Fundraising 2% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Director, Co
$0Pt VII · Sec A
Director, Co
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Di
$0Pt VII · Sec A
See Lamb Arts Ltd executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Presents theatrical and musical arts in a newly rehabilitated venue for the Siouxland area.

Provided by the organization

This section is blank until Lamb Arts Ltd claims this page.

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2 program services account for $363K of program spending, described in the organization's own filed words · FY2024.
01

Provide the citizens of the siouxland communities with the opportunity to enjoy live theatre productions with the talent coming from those same communities at a cost much less than if professional talet was purchased

$286Kprogram expense
02

Provide the youth of the siouxland communities with the opportunity to learn about the arts by offering professional education programs about the theatre and operate a multifunctional organization that celebrates education (school), manages theatre performances and designs, fundraises and participates in the development of a new lamb…

$77Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 3 funders$32K
See all 3 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$209K
Ln 12
Fees for servicesLn 2g$110K
Gifts and grantsLn 1h$76K
Investment incomeLn 3$22K
Money outPt IX
$413K
Ln 25
Programscol B$363K
Managementcol C$43K
Fundraisingcol D$7K
Owns and owesPt X
$640K
net assets · Ln 32
Cash and savingsLn 1–2$927K
Total assetsLn 16$927K
LiabilitiesLn 26$287K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$76K
Fees for servicesLn 2g$110K
Investment incomeLn 3$22K
Total revenueLn 12$209K
Assets in detailPt X, end of year
CashLn 1$927K
Cash and savings togetherLn 1–2$927K
Total assetsLn 16$927K
LiabilitiesLn 26$287K
Net assetsLn 32$640K
OperationsPt I, VI
EmployeesI 52
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.2M$927K
Total assetsLn 16$2.6M$927K
LiabilitiesLn 26$0$287K
Net assetsLn 32$2.6M$640K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$53K$35K$17K
Other salaries and wagesLn 7$25K$25K
Payroll taxesLn 10$6K$6K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$64K$64K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$39K$21K$10K$7K
OccupancyLn 16$31K$21K$10K
InterestLn 20$11K$11K
Other expenses (24a–d)Ln 24$169K$169K
Total functional expensesLn 25$413K$363K$43K$7K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $257K$241K$16K$645K 990 PDF
FY2024 Viewing $209K$413K−$204K$640K 990 PDF
FY2023 $471K$214K$257K$2.6M 990 PDF
FY2022 $513K$276K$237K$1.2M 990 PDF
FY2021 $526K$175K$352K$1.4M 990 PDF
FY2020 $545K$289K$256K$1.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $208,737 across 5 lines filed
VIII-1f All other contributions, gifts and grants$76,004
VIII-1h Total contributions, gifts and grants$76,004
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $110,427$110,427
VIII-3 Investment incomeExcluded from tax $22,306$22,306
VIII-12 Total revenueRelated to mission $110,427 · Excluded from tax $22,306$208,737
Part IX · Statement of functional expenses $413,037 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $35,220 · Management $17,347$52,567
IX-7 Other salaries and wagesPrograms $25,467$25,467
IX-10 Payroll taxesPrograms $5,970$5,970
IX-11b Legal feesManagement $3,432$3,432
IX-11c Accounting feesManagement $1,325$1,325
IX-11g Other fees for servicesPrograms $64,107$64,107
IX-12 Advertising and promotionPrograms $10,452$10,452
IX-13 Office expensesPrograms $20,985 · Management $10,493 · Fundraising $7,441$38,919
IX-16 OccupancyPrograms $20,674 · Management $10,337$31,011
IX-20 InterestPrograms $10,608$10,608
IX-24 Other expenses (24a–d)Programs $169,179$169,179
IX-25 Total functional expensesPrograms $362,662 · Management $42,934 · Fundraising $7,441$413,037
Part X · Balance sheet $926,522 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $2,215,654$926,522
X-16 Total assetsStart of year $2,616,199$926,522
X-17 Accounts payable and accrued expenses$7,189
X-24 Unsecured notes and loans payable$279,598
X-26 Total liabilitiesStart of year $0$286,787
X-32 Total net assets or fund balancesStart of year $2,616,199$639,735
X-33 Total liabilities and net assetsStart of year $2,616,199$926,522
Part XI · Reconciliation of net assets $639,735 net assets at year end
XI-1 Total revenue$208,737
XI-2 Total expenses$413,037
XI-3 Revenue less expenses−$204,300
XI-4 Net assets at start of year$2,616,199
XI-9 Other changes in net assets−$1,772,164
XI-10 Net assets at end of year$639,735

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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