Lime Kiln Arts INC EIN 52-1269538

Lime Kiln Arts INC

EIN  52-1269538 Public charity (501(c)(3)) Lexington, VA
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Size
$100K–1M
What they do
Enriches culture and honors heritage through music, theater, and education in unique historical spaces.
Leadership
Spencer McElroy · Executive Di · $91K
Money in and out
$629K revenue, $581K expenses
Bottom line
88% program efficiency

Enriches culture and honors heritage through music, theater, and education in unique historical spaces. For fiscal year 2024 it reported $629K in revenue, $581K in expenses, and $541K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$629K
Pt VIII · Ln 12
Total expenses
$581K
Pt IX · Ln 25
Net assets
$541K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $48K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.09 Fundraising $0.02
Program efficiency
88%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
8.1mo
months of highly liquid reserves at operating expense rate▲ +35% vs prior filing year
Surplus margin
+8%
revenue over expenses, this year▲ ×60 vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$629K
FY2024▲ +12%
Expenses
$581K
FY2024▲ +3%
Total assets
$644K
FY2024▲ +28%
Total liabilities
$103K
FY2024▲ ×11
Total revenue
$629K
Pt VIII · Ln 12
Total expenses
$581K
Pt IX · Ln 25
Net assets
$541K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$48K
Total assetsPt X · Ln 16$644K
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

1 program service account for $514K of program spending, described in the organization's own filed words · FY2024.
01

Music concerts and theater plays hosted during the summer season, featuring a variety of artists.

$514Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLime Kiln Arts INC
EINHdr · item D52-1269538
Principal addressHdr · item CLexington, VA
WebsiteHdr · item Jwww.limekilntheater.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A65Z)
Ruling yearIRS BMFMay 1985

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Di
$90,776Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Spencer McElroy’s $91K as Executive Di is at the 83rd percentile of top reported officer pay among 2213 $100K–1M 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Spencer McElroy$90,776$95,089$64,640
Spencer G McElroy$91,342$21,925
Jeremy Franklin$52,308$10,417

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.

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Statement of Revenue

Part VIII
Program service revenue$311K · 49%
Contributions & grants$191K · 30%
Other revenue$117K · 19%
Investment income$9K · 1%
Program service revenue49%$311K
Contributions & grants30%$191K
Other revenue19%$117K
Investment income1%$9K
— government grantsLn 1e$37K
Total revenueLn 12$629K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.09 Fundraising $0.02
Program services88%$514K
Management & general9%$55K
Fundraising2%$12K
Total functional expensesLn 25$581K

Balance Sheet

Part X · end of year
CashLn 1$392K
Total assetsLn 16$644K
Total liabilitiesLn 26$103K
Total net assetsLn 32$541K
Months of cash on handcomputed8.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $392K · Operating expenses/yr $581K
8.1 months
Where the money goes
Program services
Program services $514K · Total expenses $581K
88%
Management & General
Management & general $55K · Total expenses $581K
9%
Fundraising
Fundraising $12K · Total expenses $581K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $13K · Solicited contributions (3-yr avg) $95K
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $191K · Total revenue $629K
30%
Government reliance
Government grants $37K · Total revenue $629K
6%
Earned-income share
Program service revenue $311K · Total revenue $629K
49%
Investment reliance
Investment income $9K · Total revenue $629K
+1%
Program self-sufficiency
Program service revenue $311K · Total expenses $581K
54%
Growth & trend
Revenue growth (YoY)
This year $629K · Prior year $563K
+12%
Revenue CAGR
FY2020 $86K · FY2024 $629K
+64%
Net-asset trend (YoY)
End of year $541K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $629K · Expenses $581K
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $644K
Net-asset ratio
Net assets $541K · Total assets $644K
84%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $644K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Spencer McElroy · Reported title EXECUTIVE DI · Highest reported compensation $91K · Total expenses $581K
16%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $152K · Total expenses $581K
26%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 9%
Fundraising cost ratio 6%
Revenue growth 12%
Legal fee ratio 2%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$19K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$629K revenue · viewing · ⤓ 990 PDF
FY2023$563K revenue · ⤓ 990 PDF
FY2022$465K revenue · ⤓ 990 PDF
FY2021$596K revenue · ⤓ 990 PDF
FY2020$86K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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