2023-12-13T14:10:48-08:00 2023-06-30 061533072 WollackLewitz LLC 36 Elm Street Old Saybrook CT 06475 990 2022-07-01 060942210 LYME ACADEMY OF FINE ARTS LYME 8604345232 84 LYME STREET OLD LYME CT 06371 MICHAEL DUFFY Chairman 2023-12-11 true MICHAEL DUFFY 999009999 true JOSEPH J WOLLACK CPA P01217255 8603884451 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z MICHAEL DUFFY 84 LYME STREET OLD LYME CT 06371 1693157 false X lymeacademy.edu X 1976 CT A GENEROUS GIFT OF $1,000,000 BY CHARLOTTE COLBY DANLY, HERSELF A GRADUATE OF LYME ACADEMY, ENABLED A SEARCH FOR A TEACHER TO CARRY FORWARD THE ACADEMYS DISTINGUISHED TRADITION IN THE FIELD OF SCULPTURE. A SEARCH COMMITTEE WAS FORMED TO CARRY OUT THE SEARCH, COMPRISED OF: MS. DANLY; BOARD MEMBER/ARTIST EILEEN EDER; BOARD CHAIR MICHAEL DUFFY; JORDAN SOKOL; ISRAELI SCULPTOR ERAN WEBER; AND THE FORMER HEAD OF THE SCULPTURE DEPARTMENT AT THE FLORENCE ACADEMY, ROBERT BODEM. AFTER REVIEWING A RICH POOL OF APPLICANTS, THE COMMITTEE UNANIMOUSLY CHOSE ACCLAIMED SCULPTOR CHAD FISHER TO BE THE CHARLOTTE COLBY DANLY SCULPTURE CHAIR AT LYME ACADEMY. THE FIRST COHORT OF FULL-TIME SCULPTURE STUDENTS COMMENCED THEIR STUDIES IN THE FALL OF 2023 UNDER MR. FISHERS TUTELAGE. IN MARCH OF 2023, THE ACADEMY HIRED A MANAGING DIRECTOR, WENDY BURY, TO BE RESPONSIBLE FOR OVERSEEING THE DAILY OPERATIONS, AS WELL AS FOR STRATEGIC PLANNING INITIATIVES, COMMUNITY OUTREACH AND INSTITUTIONAL DEVELOPMENT, AS THE ACADEM 22 22 10 30 0 1887031 455831 271206 502413 172668 182806 183035 288080 2513940 1429130 35050 42875 0 475117 584307 0 98466 1072470 1160304 1582637 1787486 931303 -358356 14295843 15291724 1829879 1842762 12465964 13448962 THE MISSION OF THE LYME ACADEMY OF FINE ARTS IS TO TEACH THE FOUNDATIONAL SKILLS OF DRAWING, PAINTING, AND SCULPTURE IN THE FIGURATIVE TRADITION. BY ITS COMMITMENT TO TRAINING STUDENTS IN THESE SKILLS AND AN ENGAGEMENT WITH CONTEMPORARY DISCOURSE, THE ACADEMY WILL EMPOWER A NEW GENERATION OF ARTISTS. THROUGH ITS PROGRAMS, THE ACADEMY IS COMMITTED TO ENRICHING THE CULTURAL LIFE OF THE COMMUNITY. false false 1024986 502413 THE LYME ACADEMY HAS RETURNED TO ITS FOUNDING PRINCIPLES UNDER THE LEADERSHIP OF ARTISTIC DIRECTORS JORDAN SOKOL AND AMAYA GURPIDE. THIS HUSBAND-AND-WIFE TEAM OF ARTISTS HARKEN BACK TO THE ACADEMY'S FOUNDING LEADERS, SCULPTOR ELISABETH GORDON CHANDLER AND HER HUSBAND, RENOWNED ARTIST LACI DEGERENDAY. THE CLARITY OF THE VISION ARTICULATED BY MR. SOKOL AND MS. GURPIDE HAS ATTRACTED A GROWING NUMBER OF STUDENTS AND ARTISTS TO STUDY AND TEACH AT THE ACADEMY. THE LYME ACADEMY IS IN THE PROCESS OF LAUNCHING THEIR NEW SCULPTURE PROGRAM THAT WILL BE AVAILABLE IN THE FALL OF 2023. 1024986 true true false false false false false true false true true false false false true true true false true false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 56 0 true 10 true false false false false false false false 0 false false false false false false false X 22 22 false false false false false false false true true false false true true true true true true false false false CT X PATRICIA LIMON 8604345232 84 LYME STREET OLD LYME CT 06371 X MICHAEL DUFFY Chairman 5.00 0.00 X X 0 0 0 LAURA LEE MILLER VICE CHAIRMAN 5.00 0.00 X X 0 0 0 PAUL KNIERIM Secretary 5.00 0.00 X X 0 0 0 LEE BOWES Treasurer 5.00 0.00 X X 0 0 0 TIMOTHY GRISWOLD Director 3.00 0.00 X 0 0 0 SUE JOFFRAY Director 2.00 0.00 X 0 0 0 DAVID KELSEY Director 2.00 0.00 X 0 0 0 SUSAN SKELSEY Director 2.00 0.00 X 0 0 0 MELISSA BARBIERI Director 2.00 0.00 X 0 0 0 WILL ALLIK Director 2.00 0.00 X 0 0 0 MICHAEL GRIMALDI Director 2.00 0.00 X 0 0 0 EILEEN EDER Director 2.00 0.00 X 0 0 0 CASSIE ARCHER Director 2.00 0.00 X 0 0 0 CAROL JONES Director 2.00 0.00 X 0 0 0 JOSHUA JANSON Director 2.00 0.00 X 0 0 0 LINCOLN CHAN Director 2.00 0.00 X 0 0 0 LAURA HANSEN Director 2.00 0.00 X 0 0 0 WILLIAM BACHMAN Director 2.00 0.00 X 0 0 0 HARRY SEGAL Director 2.00 0.00 X 0 0 0 MARY WILSON Director 2.00 0.00 X 0 0 0 ALLEN ROSENSHINE Director 2.00 0.00 X 0 0 0 RUSSELL RUSHMEIER Director 2.00 0.00 X 0 0 0 0 false false false 0 45000 410831 455831 OPEN STUDIO DRAWING 611600 140 140 TUITION 611600 452251 452251 WORKSHOP FEES 611600 4950 4950 YOUTH PROGRAM 611600 45072 45072 502413 182806 182806 0 0 158135 158135 158135 158135 0 0 0 384953 264027 120926 120926 MISCELLANEOUS REVENUE 611600 9019 9019 9019 1429130 623339 349960 X 0 42875 42875 0 0 0 0 536345 306751 190656 38938 0 0 47962 35972 7194 4796 0 2730 2730 22065 22065 0 0 14988 14988 237825 188411 40569 8845 68996 31165 22592 15239 107804 62946 27081 17777 0 0 139569 97698 41871 14374 7519 5764 1091 0 450 450 227 227 0 278043 69511 208532 91074 70027 13661 7386 PROPERTY MAINTENANCE 141209 98846 42363 TAXES & LICENSES 16527 15840 687 MISCELLANEOUS EXPENSE 13340 6665 5336 1339 EQUIPMENT RENTAL 6863 4073 1876 914 4220 2077 689 1454 1787486 1024986 664034 98466 737882 735466 0 0 0 0 0 0 120079 122616 0 10396221 6938467 3684708 3457754 9024974 10232773 0 0 0 728200 743115 14295843 15291724 1829879 1842762 1829879 1842762 X 5603089 5055882 6862875 8393080 12465964 13448962 14295843 15291724 -358356 1341354 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 731850 X X false 8832523 1247363 234243 12331 9833312 8217092 1044482 -233219 176721 19111 8832523 6433192 2068353 284453 8217092 7016411 -583219 6433192 5399891 1220082 475767 79329 7016411 0.02540 0.97460 true false false 500013 500013 9399703 6584667 2815036 496505 353800 142705 3457754 DUE TO UNIV OF NEW HAVEN 1817313 SALES TAX PAYABLE 13557 SECURITY DEPOSITS 11892 1842762 X 2755496 1341354 1341354 1414142 14988 14988 1429130 1772498 1772498 14988 14988 1787486 Part III, Line 4: Description of organization's collections and how it furthers its purpose. The Academy capitalizes works of art that it intends to maintain as part of its permanent collection. These items are recorded at their estimated fair value at the time they are donated to the Academy. The works are displayed for the general public and students who visit the campus and are also used as part of the academic programs. Part X : FIN48 Footnote The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Academy may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Academy and various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Management has determined that the Academy does not have any uncertain tax positions and associated unrecognized tax benefits that materially impact the financial statements or related disclosures. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the Academys tax positions will not be challenged by the taxing authorities. true true true true true true true false false false false false false false false false false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized NON-DISCRIMINATION POLICY: THE ACADEMY STATES THAT IT IS OPEN TO ALL PERSONS REGARDLESS OF RACE, CREED, SEX, OR NATIONAL ORIGIN WHENEVER POSSIBLE IN ITS VARIOUS CATALOGS, PUBLICATIONS AND OTHER MATERIAL. Schedule E, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race true 0 0 SCHOLARSHIPS 28 42875 Form 990, Part VI, Section B, Line 11b FORM 990 IS DISTRIBUTED TO THE BOARD OF TRUSTEES TO REVIEW BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Section B, Line 12c THE OFFICERS AND TRUSTEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST AT THE EARLIEST PRACTICABLE TIME. NO TRUSTEE SHALL VOTE ON ANY MATTER UNDER CONSIDERATION OF THE BOARD WHERE SUCH A CONFLICT EXISTS. ANY CONFLICTS OF INTEREST ARE REFLECTED IN THE MINUTES OF ANY BOARD OF TRUSTEES MEETINGS. Form 990, Part VI, Section C, Line 19 OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST