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Eighth Muse Incorporated FY2023 filing

Not tax-deductible

New Orleans, LAMutual-benefit / member-servingSince 2011Human ServicesEIN 45-2303680Revenue $183K in FY2023

On file with the IRS8325 Oak St, 70118-2043 · New Orleans, LATax-exempt since Aug 2012

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Real estate holding co. - non-profit corp.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $20K a year · 11% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
7 mo
of spending, in cash
Looks good: 7.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$873K
78% of total assets
Worth a look: liabilities are 78% of assets; over 65%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183K
-0.1% vs prior year
Spent
$159K
Net assets
$239K
By yearFY2020–FY2024
Revenue
$183K
FY2023-0.1%
Tap a bar for its year
Revenue by fiscal year
FY2020$183K
FY2021$183K
FY2022$183K
FY2023$183K
FY2024$183K
FY2024$183K
Expenses
$159K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$130K
FY2021$159K
FY2022$152K
FY2023$159K
FY2024$212K
FY2024$184K
Net assets
$239K
FY2023▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$163K
FY2021$187K
FY2022$216K
FY2023$239K
FY2024$210K
FY2024$209K

From the FY2023 Form 990 (year ending September 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2012.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Cathy Lazarus
President (thru 12/2022)
$0Pt VII · Sec A
Patsy White
Secretary (thru 12/2022); President
$0Pt VII · Sec A
Hugh Eley
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
John Tarver
Treasurer
$0Pt VII · Sec A
Ronald Lospennato
Interim Exec Director (thru 4/23)
$0Pt VII · Sec A
Keandra Ratcliff
Director of Finance (thru 05/23)
$0Pt VII · Sec A
Tara Huffman
Interim Executive Director
$0Pt VII · Sec A
See Eighth Muse 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 15aNo

Programs and updates

Acquires and manages properties to support community needs.

Questions for Eighth Muse Incorporated

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Corporation leases its real estate to a non-profit corporation. The non-profit corporation has common board members with the corporation.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$183K
Ln 12
Fees for servicesLn 2g$182K
Investment incomeLn 3$190
Money outPt IX
$159K
Ln 25
Owns and owesPt X
$239K
net assets · Ln 32
Cash and savingsLn 1–2$94K
Total assetsLn 16$1.1M
LiabilitiesLn 26$873K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$182K
Investment incomeLn 3$190
Total revenueLn 12$183K
Assets in detailPt X, end of year
SavingsLn 2$94K
Cash and savings togetherLn 1–2$94K
Land, buildings, equipmentLn 10c$970K
Other assetsLn 15$30K
Total assetsLn 16$1.1M
LiabilitiesLn 26$873K
Net assetsLn 32$239K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$90K$94K
Land, buildings, equipmentLn 10c$1.0M$970K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$906K$873K
Net assetsLn 32$216K$239K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K
Other fees for servicesLn 11g$12K
OccupancyLn 16$75K
InterestLn 20$31K
Depreciation, depletion and amortizationLn 22$38K
Total functional expensesLn 25$159K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $183K$212K−$29K$210K 990 PDF
FY2023 Viewing $183K$159K$24K$239K 990 PDF
FY2022 $183K$152K$31K$216K 990 PDF
FY2021 $183K$159K$24K$187K 990 PDF
FY2020 $183K$130K$52K$163K 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 $182,656 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $100$0
I-9 Program service revenuePrior year $182,466$182,466
I-10 Investment incomePrior year $287$190
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $182,853$182,656
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $152,026$159,128
I-18 Total expensesPrior year $152,026$159,128
I-19 Revenue less expensesPrior year $30,827$23,528
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $182,656 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $182,466$182,466
VIII-3 Investment incomeExcluded from tax $190$190
VIII-12 Total revenueRelated to mission $182,466 · Unrelated business $0 · Excluded from tax $190$182,656
Part IX · Statement of functional expenses $159,128 across 5 lines filed
IX-11c Accounting fees$2,100
IX-11g Other fees for services$12,285
IX-16 Occupancy$75,471
IX-20 Interest$30,829
IX-22 Depreciation, depletion and amortization$38,443
IX-25 Total functional expenses$159,128
Part X · Balance sheet $1,112,044 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $90,135$93,517
X-9 Prepaid expenses and deferred chargesStart of year $6,219$15,613
X-10c Land, buildings and equipment, netStart of year $1,008,185$969,742
X-14 Intangible assetsStart of year $4,687$3,515
X-15 Other assetsStart of year $12,610$29,657
X-16 Total assetsStart of year $1,121,836$1,112,044
X-17 Accounts payable and accrued expensesStart of year $1,050$0
X-25 Other liabilitiesStart of year $249,985$249,985
X-26 Total liabilitiesStart of year $905,896$872,576
X-27 Net assets without donor restrictionsStart of year $215,940$239,468
X-32 Total net assets or fund balancesStart of year $215,940$239,468
X-33 Total liabilities and net assetsStart of year $1,121,836$1,112,044
Part XI · Reconciliation of net assets $239,468 net assets at year end
XI-1 Total revenue$182,656
XI-2 Total expenses$159,128
XI-3 Revenue less expenses$23,528
XI-4 Net assets at start of year$215,940
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$239,468

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

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