Lubbock Experience Incorporated FY2022 filing

Tax-deductible

Lubbock, TX501(c)(3)Arts & CultureEIN 20-8957025Revenue $325K in FY2022

On file with the IRSlubbockculturalarts.org1500 Broadway Ste 600, 79401-3167 · Lubbock, TXTax-exempt since Aug 2007Publicly supported charity — 170(b)(1)(A)(vi)

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To support and grow the Lubbock community and west texas area.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$142K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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 $509K a year · 33% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$142K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$325K
-43% vs prior year
Spent
$4.7M
To programs
100%
Net assets
$288K
By yearFY2020–FY2025
Revenue
$325K
FY2022▼ -43%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$569K
FY2022$325K
FY2023$2.3M
FY2024$378K
FY2025$3.8M
Expenses
$4.7M
FY2022▲ ×22
Tap a bar for its year
Expenses by fiscal year
FY2020$143K
FY2021$211K
FY2022$4.7M
FY2023$317K
FY2024$346K
FY2025$443K
Net assets
$288K
FY2022▼ -94%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.3M
FY2021$4.7M
FY2022$288K
FY2023$2.3M
FY2024$2.3M
FY2025$5.7M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2007.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $4.7M Management & general 0% · $20K

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

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Who runs it and what they're paid

4 people listed on the 990; $142K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$141,534Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A

Stacy Keith’s $156K as Executive Director is at the 69th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Stacy Keith$155,999$150,662$148,657$141,534$135,000$99,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Lubbock Experience Incorporated 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

Strengthens and expands the Lubbock community and West Texas region.

Provided by the organization

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2 programs · $4.7M · in their own filed words · FY2022
01

In 2022

Lubbock experience, inc and its dba lubbock cultural arts foundation (lcaf) continued to expand the mission of the organization. Lcaf was successful in obtaining several small grants that allowed the organization to assist the new arts event, lubbock grass festival, which was held in the spring of 2022 and is anticiapted to be an annual…

$4.7Mprogram expense
02

The lubbock cultural arts foundation is operated as a dba of lubbock experience. The foundation obtained, for the city of lubbock, the designation of texas music friendly city and texas film friendly designation. The foundation will cultivate, connect and champion the arts community in lubbock, texas.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$5K
Grants paid · 1 grant · $47K · 2024–2024
City of LubbockFY2024$47,399

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$325K
Ln 12
Gifts and grantsLn 1h$324K
Investment incomeLn 3$651
Fees for servicesLn 2g$72
Money outPt IX
$4.7M
Ln 25
Programscol B$4.7M
Managementcol C$20K
Owns and owesPt X
$288K
net assets · Ln 32
Cash and savingsLn 1–2$288K
Total assetsLn 16$289K
LiabilitiesLn 26$1K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$324K
Government grantsLn 1e$125K
Fees for servicesLn 2g$72
Investment incomeLn 3$651
Total revenueLn 12$325K
Assets in detailPt X, end of year
CashLn 1$288K
Cash and savings togetherLn 1–2$288K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$0
Total assetsLn 16$289K
LiabilitiesLn 26$1K
Net assetsLn 32$288K
OperationsPt I, VI
EmployeesI 51
VolunteersI 61
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$218K$288K
Land, buildings, equipmentLn 10c$2K$1K
Total assetsLn 16$4.7M$289K
LiabilitiesLn 26$0$1K
Net assetsLn 32$4.7M$288K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.5M$4.5M
Pay of current officers, directors and key staffLn 5$158K$142K$16K
Payroll taxesLn 10$11K$10K$1K
Accounting feesLn 11c$1K$342$1K
Other fees for servicesLn 11g$28K$28K
Advertising and promotionLn 12$40K$40K
Office expensesLn 13$670$502$168
OccupancyLn 16$6K$4K$2K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$6K$6K
Depreciation, depletion and amortizationLn 22$551$551
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$4.7M$4.7M$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.8M$443K$3.4M$5.7M 990 PDF
FY2024 $378K$346K$32K$2.3M 990 PDF
FY2023 $2.3M$317K$2.0M$2.3M 990 PDF
FY2022 Viewing $325K$4.7M−$4.4M$288K 990 PDF
FY2021 $569K$211K$359K$4.7M 990 PDF
FY2020 $1.8M$143K$1.7M$4.3M 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 FY2022 990 (6 parts)
Part I · Summary $325,079 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $568,779$324,356
I-9 Program service revenuePrior year $96$72
I-10 Investment incomePrior year $392$651
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $569,267$325,079
I-13 Grants and similar amounts paidPrior year $0$4,462,631
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $158,770$168,681
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $51,908$86,581
I-18 Total expensesPrior year $210,678$4,717,893
I-19 Revenue less expensesPrior year $358,589−$4,392,814
Part VI · Governance 1 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $325,079 across 6 lines filed
VIII-1e Government grants$125,000
VIII-1f All other contributions, gifts and grants$199,356
VIII-1h Total contributions, gifts and grants$324,356
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $72$72
VIII-3 Investment incomeExcluded from tax $651$651
VIII-12 Total revenueRelated to mission $72 · Unrelated business $0 · Excluded from tax $651$325,079
Part IX · Statement of functional expenses $4,717,893 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $4,462,631$4,462,631
IX-5 Pay of current officers, directors and key staffPrograms $142,043 · Management $15,783$157,826
IX-10 Payroll taxesPrograms $9,770 · Management $1,085$10,855
IX-11c Accounting feesPrograms $342 · Management $1,027$1,369
IX-11g Other fees for servicesPrograms $27,922$27,922
IX-12 Advertising and promotionPrograms $39,743$39,743
IX-13 Office expensesPrograms $502 · Management $168$670
IX-16 OccupancyPrograms $4,500 · Management $1,500$6,000
IX-17 TravelPrograms $1,911$1,911
IX-19 Conferences, conventions and meetingsPrograms $6,068$6,068
IX-22 Depreciation, depletion and amortizationPrograms $551$551
IX-24 Other expenses (24a–d)Programs $2,347$2,347
IX-25 Total functional expensesPrograms $4,698,330 · Management $19,563 · Fundraising $0$4,717,893
Part X · Balance sheet $289,425 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $218,364$288,102
X-10c Land, buildings and equipment, netStart of year $1,874$1,323
X-15 Other assetsStart of year $4,460,801$0
X-16 Total assetsStart of year $4,681,039$289,425
X-17 Accounts payable and accrued expenses$1,200
X-26 Total liabilitiesStart of year $0$1,200
X-27 Net assets without donor restrictionsStart of year $173,462$229,524
X-28 Net assets with donor restrictionsStart of year $4,507,577$58,701
X-32 Total net assets or fund balancesStart of year $4,681,039$288,225
X-33 Total liabilities and net assetsStart of year $4,681,039$289,425
Part XI · Reconciliation of net assets $288,225 net assets at year end
XI-1 Total revenue$325,079
XI-2 Total expenses$4,717,893
XI-3 Revenue less expenses−$4,392,814
XI-4 Net assets at start of year$4,681,039
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$288,225

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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