2011-05-03T09:44:48-05:00 2010-06-30 WHITTLESEY & HADLEY PC 147 CHARTER OAK AVENUE HARTFORD CT 06106 990 2009-07-01 060942210 Lyme Academy College of Fine Arts Inc LYME 8604345232 84 LYME STREET OLD LYME CT 06371 Debra Petke 8604345232 2011-05-03 1 Edward S Jason 8605223111 2009 2016-02-24 21:20:13Z Debra Petke 84 lyme street Old Lyme CT 06371 5529092 0 X N/A X 1976 CT EDUCATION FACILITY 20 20 80 130 0 0 1062091 1347460 1869599 1552161 -426639 140142 186210 107651 2691261 3147414 0 0 2193736 2219179 0 280881 1479467 1612072 3673203 3831251 -981942 -683837 11797807 11525099 2212689 2093687 9585118 9431412 Provide the best education in drawing, illustration, painting and sculpture through study of the history, traditions and principles of the fine arts and the liberal arts, thereby establishing a comprehensive foundation for the development of the artist. The curriculum reflects a deep respect for traditional forms of teaching which have produced Master Artists throughout the ages. The goal is to provide a practical foundation on which each student can develop his or her unique intellectual and visual articulation with confidence and integrity. 0 0 2808506 1620508 THE LYME ACADEMY OPERATES AN ART SCHOOL AND GALLERY IN OLD LYME CONNECTICUT. THE SCHOOL AND ITS FACILITIES ARE OPEN TO THE GENERAL PUBLIC. CLASSES ARE HELD THROUGHOUT THE YEAR. 2808506 1 1 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 87 0 1 80 1 0 0 0 0 0 1 1 0 0 0 0 0 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X LYME ACADEMY OF FINE ARTS INC 8604345232 84 LYME STREET OLD LYME CT 06371 MARTIN WOLMAN 2.00 X 0 0 0 JEAN CALLAN KING 2.00 X 0 0 0 ARTHUR C REEDS III 2.00 X 0 0 0 MARGARET PRIZER KENNY 2.00 X 0 0 0 JONATHAN P BUTLER 2.00 X 0 0 0 HENRY E DUNN III 2.00 X 0 0 0 CHARLES J HAMM 2.00 X 0 0 0 GAIL L HAMSHER 2.00 X 0 0 0 ELIZABETH T HARBISON 2.00 X 0 0 0 CHARLOTTE CD JACKSON 2.00 X 0 0 0 SUZANNE C JOFFRAY 2.00 X 0 0 0 DIANA ATWOOD JOHNSON 2.00 X 0 0 0 MARY MATTHEWS 2.00 X 0 0 0 LAURA LEE MILLER 2.00 X 0 0 0 ROBERT PRATT 2.00 X 0 0 0 ALAN R PROCTOR 2.00 X 0 0 0 ROBERT REED 2.00 X 0 0 0 CATHERINE ROBERTS 2.00 X 0 0 0 CHARLES C TAYLOR 2.00 X 0 0 0 PRISCILLA WINN BARLOW 2.00 X 0 0 0 DEBRA PETKE 40.00 X 149188 0 19036 JOANNE DONAGHUE 40.00 X 102000 0 3400 LAURA ZARROW 40.00 X 105000 0 0 MARY ORCUTT 40.00 X 109866 0 13115 466054 0 35551 4 1 1 0 CBIA PO Box 150495 Hartford CT 061150495 Health Insurance 207288 TIAA-CREF PO BOX 105316 Atlanta GA 303485316 Employee Pension Plan 170668 2 14450 257394 1075616 216964 1347460 tuition and fees 611710 1552161 1552161 1552161 67895 67895 2272011 21215 2190719 30260 81292 -9045 72247 72247 109908 14450 70604 39304 39304 142424 90095 52329 52329 misc. income 611710 16018 16018 16018 3147414 1620508 0 179446 457417 355417 102000 1331462 1222696 27466 81300 56441 30479 17784 8178 238439 184792 36859 16788 135420 94535 26980 13905 89472 84334 2571 2567 34445 11047 11676 11722 21415 16095 4110 1210 140338 140338 97311 85036 7167 5108 106131 106131 339628 339628 53217 53217 CONSULTANTS/CONTRACTORS 495693 355248 116660 23785 Supplies 152604 151789 131 684 Catering 18927 8791 2997 7139 62891 30481 25915 6495 3831251 2808506 741864 280881 209506 165245 1201 1204 199116 138527 50579 67630 61643 60328 22462 41408 9870586 3540976 6626495 6329610 4057639 4040452 569166 680695 11797807 11525099 373621 254738 175315 39315 1663753 1799634 2212689 2093687 X 6143100 4993484 979649 67316 2462369 4370612 9585118 9431412 11797807 11525099 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 141789 680695 X 0 4057639 115244 679318 811749 4040452 4482561 1037461 -1015689 446694 4057639 0.00920 0.98200 0.00880 0 0 513507 513507 8453872 2749909 5703963 903207 791067 112140 6329610 COLLECTIONS 680695 680695 3147414 3831251 -683837 530131 530131 -153706 3838244 530131 160699 690830 3147414 0 3147414 3991950 160699 160699 3831251 0 3831251 Part III, Line 4: The organization is an art college and any exhibitions are held in the organization's galleries. They are used by students and faculty members for scholary research and teaching purposes. Part XII, Line 2d Other items included on line 1 but not on Form 990, Part VIII, Line 12: Arts Ball Fundraising Expense: $70,604 Inventory Cost of Goods Sold: $90,095 Part XIII, Line 2d Other items included on line 1 but not on Form 990, Part IX, Line 25: Arts Ball Fundraising Expense: $70,604 Inventory Cost of Goods Sold: $90,095 1 1 1 THE ACADEMY STATES THAT IT IS OPEN TO ALL PERSONS REGARDLESS OF RACE, CREED, SEX, OR NATIONAL ORIGIN WHENEVER POSSIBLE IN ITS VARIOUS CATALOGS, APPLICATIONS, AND OTHER MATERIAL. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE IS A RECIPIENT OF FEDERAL AND STATE DOLLARS WHEN STUDENTS APPLY FOR FEDERAL AND STATE FINANCIAL AID. WHEN RECEIVED, THIS FUNDING IS APPLIED TO THE STUDENT'S TUITION AND ANY EXCESS IS PROVIDED TO THE STUDENT. 1 Arts Ball 124358 14450 109908 70604 124358 14450 109908 70604 70604 39304 1 X 0 0 0 0 0 0 0 0 0 DEBRA PETKE 149188 0 0 0 0 0 0 0 19036 0 168224 0 0 0 MARY ORCUTT 109866 0 0 0 0 0 0 0 13115 0 122981 0 0 0 X 26 136000 Repair cost;estate value X 5789 Appraisal X 7 75175 FAIR MARKET VALUE 1 0 1 0 Form 990, Part VI, Section B, line 11 The draft IRS Form 990 is presented to the Finance Committee who reports their finding to the Executive Committee and the Board of Trustees. Form 990, Part VI, Section B, line 12c The College has a code of ethics and conflict of interest policy statement for trustees that is to be completed and signed annually. Form 990, Part VI, Section B, line 15 The organization examines the going rates in the industry using statistics from other colleges and information obtained through online websites that give salary guidelines. Also, the College's historical rates for these positions are considered. Form 990, Part VI, Section C, line 19 The documents are available on the Guidestar website, upon request and included with all grants and most gift requests. Part XI, Line 2c Oversight of the audit financial statements and selection of the independent accountant is performed by the finance committee