Lubbock Experience Incorporated FY2023 filing

Tax-deductible

Lubbock, TX501(c)(3)Arts & CultureEIN 20-8957025Revenue $2.3M in FY2023

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.
88¢ of each $1 spent went to programs.
$149K 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

FY2023 · 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
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$149K
to officers and key staff · 47% of spending
Concern: pay to officers and key staff is 47% of spending; over 30%.
Pt VII · Sec A
Cash reserves
87 mo
of spending, in cash
Looks good: 86.9 months of spending in cash; 3 or more.
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
$0
0% 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
$2.3M
+617% vs prior year
Spent
$317K
To programs
88%
Net assets
$2.3M
By yearFY2020–FY2025
Revenue
$2.3M
FY2023▲ +617%
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
$317K
FY2023▼ -93%
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
$2.3M
FY2023▲ +699%
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 FY2023 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

88 cents of each dollar spent went to programs.

Program services 88% · $280K Management & general 7% · $23K Fundraising 5% · $14K

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; $149K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$148,657Pt 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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1 program · $280K · in their own filed words · FY2023
01

In 2023 lubbock experience, inc and its dba lubbock cultural arts foundation (lcaf) grew the mission of the organization. Lcaf was successful in obtaining several small grants that allowed for the continuation of buffalo grass fest, arts after hours and "getting the gig" educational seminars for local musicians.

$280Kprogram expense

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 FY2023 990, line by line.

1The main four
Money inPt VIII
$2.3M
Ln 12
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$62K
Fees for servicesLn 2g$5K
Money outPt IX
$317K
Ln 25
Programscol B$280K
Managementcol C$23K
Fundraisingcol D$14K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$2.3M
LiabilitiesLn 26$0
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$2.3M
Government grantsLn 1e$2.1M
Fees for servicesLn 2g$5K
Investment incomeLn 3$62K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
CashLn 1$2.3M
Cash and savings togetherLn 1–2$2.3M
Land, buildings, equipmentLn 10c$772
Other assetsLn 15$4K
Total assetsLn 16$2.3M
LiabilitiesLn 26$0
Net assetsLn 32$2.3M
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 FY23End FY23
Cash and savingsLn 1–2$288K$2.3M
Land, buildings, equipmentLn 10c$1K$772
Total assetsLn 16$289K$2.3M
LiabilitiesLn 26$1K$0
Net assetsLn 32$288K$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$165K$148K$16K
Payroll taxesLn 10$11K$10K$1K
Accounting feesLn 11c$3K$638$2K
Professional fundraising feesLn 11e$14K$14K
Other fees for servicesLn 11g$18K$18K
Advertising and promotionLn 12$78K$78K
Office expensesLn 13$742$557$185
OccupancyLn 16$12K$9K$3K
Conferences, conventions and meetingsLn 19$14K$14K
Depreciation, depletion and amortizationLn 22$551$551
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$317K$280K$23K$14K

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 Viewing $2.3M$317K$2.0M$2.3M 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $2,331,370 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $324,356$2,264,734
I-9 Program service revenuePrior year $72$4,523
I-10 Investment incomePrior year $651$62,113
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $325,079$2,331,370
I-13 Grants and similar amounts paidPrior year $4,462,631$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $168,681$176,119
I-16a Professional fundraising feesPrior year $0$14,400
I-17 Other expensesPrior year $86,581$126,898
I-18 Total expensesPrior year $4,717,893$317,417
I-19 Revenue less expensesPrior year −$4,392,814$2,013,953
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 $2,331,370 across 7 lines filed
VIII-1d Related organizations$75,000
VIII-1e Government grants$2,081,234
VIII-1f All other contributions, gifts and grants$108,500
VIII-1h Total contributions, gifts and grants$2,264,734
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,523$4,523
VIII-3 Investment incomeExcluded from tax $62,113$62,113
VIII-12 Total revenueRelated to mission $4,523 · Unrelated business $0 · Excluded from tax $62,113$2,331,370
Part IX · Statement of functional expenses $317,417 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $148,182 · Management $16,464$164,646
IX-10 Payroll taxesPrograms $10,326 · Management $1,147$11,473
IX-11c Accounting feesPrograms $638 · Management $1,912$2,550
IX-11e Professional fundraising feesFundraising $14,400$14,400
IX-11g Other fees for servicesPrograms $18,234$18,234
IX-12 Advertising and promotionPrograms $77,630$77,630
IX-13 Office expensesPrograms $557 · Management $185$742
IX-16 OccupancyPrograms $9,291 · Management $3,097$12,388
IX-19 Conferences, conventions and meetingsPrograms $13,659$13,659
IX-22 Depreciation, depletion and amortizationPrograms $551$551
IX-24 Other expenses (24a–d)Programs $1,144$1,144
IX-25 Total functional expensesPrograms $280,212 · Management $22,805 · Fundraising $14,400$317,417
Part X · Balance sheet $2,302,178 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $288,102$2,297,656
X-10c Land, buildings and equipment, netStart of year $1,323$772
X-15 Other assetsStart of year $0$3,750
X-16 Total assetsStart of year $289,425$2,302,178
X-17 Accounts payable and accrued expensesStart of year $1,200$0
X-26 Total liabilitiesStart of year $1,200$0
X-27 Net assets without donor restrictionsStart of year $229,524$202,747
X-28 Net assets with donor restrictionsStart of year $58,701$2,099,431
X-32 Total net assets or fund balancesStart of year $288,225$2,302,178
X-33 Total liabilities and net assetsStart of year $289,425$2,302,178
Part XI · Reconciliation of net assets $2,302,178 net assets at year end
XI-1 Total revenue$2,331,370
XI-2 Total expenses$317,417
XI-3 Revenue less expenses$2,013,953
XI-4 Net assets at start of year$288,225
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,302,178

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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