2025-04-09T19:08:20-05:00 2024-05-31 990 2023-06-01 610530107 LOUISVILLE ACADEMY OF MUSIC LOUI 5028937885 2740 FRANKFORT AVENUE LOUISVILLE KY 40206 SARA CALLAWAY EXECUTIVE DIRECTOR 5028937885 2025-03-16 1 2023 2025-03-06 01:10:19Z SARA CALLAWAY 2740 FRANKFORT AVENUE LOUISVILLE KY 40206 859505 0 X WWW.LOUISVILLEACADEMYOFMUSIC.ORG X 1954 KY THE LOUISVILLE ACADEMY OF MUSIC WELCOMES EVERYONE TO JOIN OUR MUSICAL COMMUNITY. LAM NURTURES LIFELONG LEARNERS, NOT SOLELY AS MUSICIANS BUT ALSO AS CREATIVE, INSPIRED PEOPLE. EQUITY IN MUSIC EDUCATION IS A FORCE TO REALIZE POTENTIAL, ACHIEVE DREAMS, AND MAKE THE WORLD A BETTER PLACE. 8 8 27 0 0 0 174154 349790 505211 505564 622 3482 0 669 679987 859505 43218 50671 0 0 455656 482583 0 0 46354 132593 187987 631467 721241 48520 138264 432326 570607 55378 55395 376948 515212 X THE LOUISVILLE ACADEMY OF MUSIC WELCOMES EVERYONE TO JOIN OUR MUSICAL COMMUNITY. LAM NURTURES LIFELONG LEARNERS, NOT SOLELY AS MUSICIANS BUT ALSO AS CREATIVE, INSPIRED PEOPLE. EQUITY IN MUSIC EDUCATION IS A FORCE TO REALIZE POTENTIAL, ACHIEVE DREAMS, AND MAKE THE WORLD A BETTER PLACE. 0 0 421549 446564 THE LOUISVILLE ACADEMY OF MUSIC (LAM) PROVIDES LONG-TERM MENTORSHIP, TRANSFERABLE LIFE SKILLS, AND A WELCOMING COMMUNITY THROUGH MUSIC LESSONS. WE ARE THE OLDEST AND LARGEST NON-PROFIT SCHOOL OF CLASSICAL MUSICAL INSTRUCTION IN OUR REGION. OUR DEGREED FACULTY TAUGHT OVER 500 STUDENTS FROM MORE THAN 50 ZIP CODES, AGED 3-83, IN INSTRUMENTS, VOICE, AND COMPOSITION THIS PAST YEAR. 50670 50670 THE PURPOSE OF THE LAM SCHOLARSHIP PROGRAM IS TO BREAK DOWN BARRIERS, BUILD PATHWAYS, AND CREATE ACCESS TO LEARNING AND EXCELLING AT A MUSICAL INSTRUMENT. MUSIC OPENS DOORS TO SUCCESS IN ANY FIELD AND OUR MISSION IS TO PROVIDE EDUCATION, SUPPORT, AND MENTORSHIP FOR ANY STUDENT WHO IS WILLING AND DEVOTED NO MATTER THEIR SOCIO-ECONOMIC STATUS. WE BELIEVE MUSIC IS FOR EVERYONE. OUR PROGRAM PROVIDES CRUCIAL ONE ON ONE SUPPORT TO THOSE STUDENTS WHO ARE PASSIONATE ABOUT LEARNING AN INSTRUMENT BUT UNABLE TO AFFORD PRIVATE INSTRUCTION. WE VALUE THE UNIQUE OPPORTUNITIES THAT INDIVIDUAL ATTENTION AND LONG TERM STUDY PROVIDE A STUDENT. 123969 59000 BEYOND LESSONS, LAM CULTIVATES A VIBRANT MUSICAL COMMUNITY THROUGH PERFORMANCES, EDUCATIONAL ENRICHMENT, COMMUNITY PARTNERSHIPS, AND SPECIAL PROGRAMS. FOR EXAMPLE OUR PUBLIC SCHOOL PROGRAMS REACHED THOUSANDS OF PEOPLE, OUR ANNUAL SUMMER SYMPOSIUM OFFERS SPECIALIZED TRACKS IN CHAMBER MUSIC AND COMPOSITION, AND OUR COMPOSER OF THE YEAR PROGRAM HIGHLIGHTS UNDERREPRESENTED CLASSICAL COMPOSERS. LAM OFFERS A UNIQUELY WELCOMING AND SUPPORTIVE COMMUNITY WITH PROGRAMMING THAT BLENDS TRADITION AND INNOVATION, INSPIRING THE NEXT GENERATION OF MUSICIANS AND CITIZENS TO HARNESS MUSIC AND ARTISTIC EXPRESSION FOR PERSONAL AND COMMUNITY GROWTH. 596188 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 27 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 KY X SARA CALLAWAY 5028937885 2740 FRANKFORT AVENUE LOUISVILLE KY 40206 LUKE DARVILLE DIRECTOR 1.00 X 7695 0 0 WILL OLDHAMQ DIRECTOR 1.00 X 0 0 0 ELEANOR LIVINGSTON TREASURER 2.00 X X 0 0 0 ANNA HAYEN SECRETARY 2.00 X X 0 0 0 SHERONDA SHORTER DIRECTOR (THRU 9/2023) 1.00 X 0 0 0 DAVID HANDMAKER CHAIRMAN 5.00 X X 0 0 0 EDWARD WHITE DIRECTOR 1.00 X 0 0 0 VICTORIA FULLER DIRECTOR 1.00 X 0 0 0 BERT GRIFFIN DIRECTOR 1.00 X 0 0 0 SARA CALLAWAY EXECUTIVE DIRECTOR 40.00 X 61353 0 0 69048 0 0 0 0 0 0 0 349790 25000 349790 LESSONS 611610 490569 490569 OTHER FEES 611610 6397 6397 GROUP CLASSES 611610 5714 5714 SYMPOSIUM 611610 2884 2884 505564 3482 3482 669 0 669 669 669 859505 505564 0 4151 50671 50671 69048 60199 5468 3381 379092 323303 34475 21314 179 179 34264 29331 3044 1889 10700 10700 56635 23753 15287 17595 29345 29022 109 214 18217 13512 4590 115 6035 3656 1839 540 7445 7170 275 20499 18853 1646 7588 7367 221 REPAIRS AND MAINTENANCE 13391 13160 231 SUPPLIES 9418 9418 EVENT EXPENSES 3688 3523 165 STAFF DEVELOPMENT 2080 1785 295 2946 1465 635 846 721241 596188 78699 46354 107451 228769 93325 96807 12411 17258 3140 0 468416 240643 215999 227773 432326 570607 54089 50239 1289 5156 55378 55395 X 316099 346013 60849 169199 376948 515212 432326 570607 138264 0 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 248416 66266 182150 220000 174377 45623 227773 X 808834 0 808834 50671 50671 859505 670570 0 670570 50671 50671 721241 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE FINANCIAL STATEMENTS DO NOT PROVIDE FOR INCOME TAXES.THE ORGANIZATION HAS IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INOCME TAXES. UNDER THAT GUIDANCE, TAX POSITIONS NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF MAY 31, 2024, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION FILES FEDERAL FORM 990. THE ORGANIZATION IS NOT CURRENTLY BEING EXAMINED AND MANAGEMENT BELIEVES ITS TAX-EXEMPT STATUS WOULD BE UPHELD UNDER EXAMINATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS NETTED WITH REVENUE 50,671. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS NETTED WITH REVENUE 50,671. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 SCHOLARSHIPS 85 50671 VALUE OF LESSONS PROVIDED FORM 990, PART V, LINE 13A KY FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE TREASURER AND REVIEWED BY THE EXECUTIVE DIRECTOR AND THE ORGANIZATION'S ACCOUNTANT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST IS AN INTERESTED PERSON. IN CONNECTION WITH ANY POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FNANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO TEH DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD-DELEGATED POWERS IN CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BAORD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES THAT DON'T PRODUCE A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE REVIEWED COMPARABLE SALARIES OF ORGANIZATIONS OF SIMILAR SIZE AND PURPOSE TO DETERMINE THE EXECUTIVE DIRECTOR'S COMPENSATION. THE COMPENSATION AMOUNT WAS PRESENTED AND APPROVED BY THE BOARD. THE DELIBERATION HAS BEEN DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES ITS FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. THE ORGANIZATION SHARES ITS 990 UPON REQUEST AS WELL AS HAVING A LINK TO THE FORM 990 ON THEIR WEBPAGE. THE ORGANIZATION HAS ALSO COMPLETED THE SILVER TRANSPARENCY SEAL ON GUIDESTAR.