2026-03-18T11:22:38-05:00 2025-05-31 990 2024-06-01 610530107 LOUISVILLE ACADEMY OF MUSIC LOUI 5028937885 2740 FRANKFORT AVENUE LOUISVILLE KY 40206 SARA CALLAWAY EXECUTIVE DIRECTOR 5028937885 2026-03-11 1 2024 2025-03-06 01:10:19Z SARA CALLAWAY 2740 FRANKFORT AVENUE LOUISVILLE KY 40206 938192 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 36 20 0 0 349790 344693 505564 566003 3482 3882 669 21266 859505 935844 50671 63099 0 0 482583 563144 0 0 71042 187987 178405 721241 804648 138264 131196 570607 734109 55395 87701 515212 646408 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 471279 520330 28 DEGREED AND DEDICATED FACULTY MEMBERS TAUGHT MORE THAN 14,000 LESSONS TO 600+ STUDENTS FROM OVER 50 ZIP CODES. SINCE 1954, THE LOUISVILLE ACADEMY OF MUSIC (LAM) HAS PROVIDED HIGH-QUALITY MUSIC EDUCATION TO GENERATIONS OF STUDENTS, NURTURING NOT ONLY MUSICIANS, BUT CREATIVE, INSPIRED PEOPLE PREPARED TO THRIVE IN EVERY AREA OF LIFE. THROUGH PRIVATE LESSONS, GROUP CLASSES, MASTERCLASSES, SUMMER CAMPS, AND MORE WE PROVIDE AN ENRICHING EDUCATIONAL ENVIRONMENT THAT SUPPORTS THE DEVELOPMENT OF A WHOLE AND CONFIDENT MUSICIAN. LAM PROVIDES A WELCOMING SPACE WHERE STUDENTS OF ALL AGES, FROM PRESCHOOLERS TO RETIREES, FIND MENTORSHIP, SELF-EXPRESSION, AND COMMUNITY. 169783 63099 45673 WE BELIEVE THAT MUSIC BELONGS TO EVERYONE AND THAT ACCESS TO TRANSFORMATIVE ARTS EDUCATION SHOULD NOT DEPEND ON A FAMILY'S INCOME, ZIP CODE, OR BACKGROUND. THROUGH NEED-BASED SCHOLARSHIPS, PUBLIC SCHOOL PROGRAMS, AND COMMUNITY PARTNERSHIPS WE REACHED MORE THAN 6,000 PEOPLE WITH FREE MUSIC EDUCATION PROGRAMMING. WE CONTINUE TO INVEST IN MAKING MUSIC EDUCATION ACCESSIBLE TO EVERYONE WHO WISHES TO LEARN, CREATE, AND BELONG. THIS YEAR ALSO BROUGHT A DEFINING HONOR: LAM WAS AWARDED THE GOVERNOR'S AWARD IN THE ARTS FOR EDUCATION, RECOGNIZING OUR EXTRAORDINARY CONTRIBUTIONS TO THE ARTS IN KENTUCKY. THIS STATEWIDE RECOGNITION AFFIRMED THE IMPACT OF OUR MISSION, OUR INNOVATIVE PROGRAMMING, AND OUR COMMITMENT TO ACCESSIBILITY AND EXCELLENCE. 641062 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 8 0 1 36 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 ELEANOR LIVINGSTON TREASURER 2.00 X X 0 0 0 ANNA HAYDEN SECRETARY 2.00 X X 0 0 0 DAVID HANDMAKER CHAIR 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 JACOB GOTTLIB DIRECTOR 1.00 X 0 0 0 KENDRICK VAUGHN DIRECTOR 1.00 X 0 0 0 SARA CALLAWAY EXECUTIVE DIRECTOR 40.00 X 77036 0 0 77036 0 0 0 0 0 0 0 50000 294693 11110 344693 LESSONS 611610 520330 520330 SYMPOSIUM 611610 16306 16306 OTHER FEES 611610 15623 15623 GROUP CLASSES 611610 13744 13744 566003 3882 3882 12362 2348 10014 10014 INSURANCE RECOVERY 900099 11252 11252 11252 935844 566003 0 25148 63099 63099 77036 65925 6866 4245 444537 356981 48464 39092 1674 1507 167 39897 32576 4043 3278 10900 10900 68100 33733 13567 20800 4769 3741 159 869 21071 15042 5973 56 5269 3567 1126 576 8151 7862 289 23297 22961 336 7963 7869 94 REPAIRS AND MAINTENANCE 10578 10078 400 100 SUPPLIES 9766 9766 STAFF DEVELOPMENT 2385 2385 EVENT EXPENSES 1013 377 636 5143 3593 160 1390 804648 641062 92544 71042 228769 197729 96807 100501 17258 68947 630873 263941 227773 366932 570607 734109 50239 73251 5156 14450 55395 87701 X 346013 528881 169199 117527 515212 646408 570607 734109 131196 0 X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 400373 75943 324430 230500 187998 42502 366932 X 872745 0 872745 63099 63099 935844 741549 0 741549 63099 63099 804648 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, 2025, 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 63,099. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS NETTED WITH REVENUE 63,099. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 SCHOLARSHIPS 63098 VALUE OF LESSONS PROVIDED 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.