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Nonprofit · EIN 06-0932073

LYME ART ASSOC INC

Tax-exempt · OLD LYME, CT 06371

Financials

$486K$407K2023$467K$497K2024
Revenue Expenses · by fiscal year end
Financials of LYME ART ASSOC INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$466,715$497,333-$30,618$2,116,409$2,913$2,113,496
December 31, 2023990$485,803$406,723$79,080$2,059,771$2,906$2,056,865
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$169,923
Membership dues
$57,130
Program service revenue
$200,118
Investment income
$23,549
Net rental income
-$1,051
Net gain from sales of assets
$173
Net income from fundraising events
$74,176
Other revenue
$73,125

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$0
Other salaries and wages
$166,148
Salaries, compensation and benefits (total)
$215,140
Professional fundraising fees
$0
Occupancy
$32,346
Depreciation
$33,787
Program services (functional)
$422,668
Management and general (functional)
$74,665

Balance sheet and other

Total assets, start of year
$2,059,771
Total assets, end of year
$2,116,409
Total liabilities, end of year
$2,913
Net assets, end of year
$2,113,496
Land, buildings and equipment
$1,092,624
Publicly traded securities
$923,626
Net assets without donor restrictions
$1,645,644
Net assets with donor restrictions
$467,852
Gross unrelated business income
-$1,051
Gross receipts
$556,205
Employees
9
Volunteers
70
Year formed
1914
State of legal domicile
CT

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
MARGARET J DERISIODirector
Trustee or director
0$0
KATHERINE SIMMONSSecretary
Trustee or director
0$0
LOIS LAWRENCEDirector
Trustee or director
0$0
RANDIE KAHRLDirector
Trustee or director
0$0
DEBORAH GOODMANDirector
Trustee or director
0$0
MAURA COCHRANDirector
Trustee or director
0$0
ERIN SCHAAFDirector
Trustee or director
0$0
JOHN BEATTYDirector
Trustee or director
0$0
PAUL LOESCHERDirector
Trustee or director
0$0
JEANNE OBRIENDirector
Trustee or director
0$0
LORRAINE YURKEWICZDirector
Trustee or director
0$0
DAVID ZUCKERBRAUNDirector
Trustee or director
0$0
DEL-BOURRE BACHDirector
Trustee or director
0$0
MICHAEL CENTRELLAVice President
Officer
0$0
PAUL SELLIERTreasurer
Officer
0$0
1 more people on this return
NameTitleHours / weekCompensation
BEVERLY SCHIRMEIERPresident
Officer
0$0
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensation
MARGARET J DERISIODirector
Trustee or director
0$0
KATHERINE SIMMONSSecretary
Trustee or director
0$0
HARLEY BARTLETTPAST PRESIDENT
Trustee or director, Officer
0$0
RANDIE KAHRLDirector
Trustee or director
0$0
DEBBI GOODMANDirector
Trustee or director
0$0
MAURA COCHRANDirector
Trustee or director
0$0
ERIN SCHAAFDirector
Trustee or director
0$0
JOHN BEATTYDirector
Trustee or director
0$0
PAUL LOESCHERDirector
Trustee or director
0$0
CAROLINE WALTERSDirector
Trustee or director
0$0
LORRAINE YURKEWICZDirector
Trustee or director
0$0
DAVID ZUCKERBRAUNDirector
Trustee or director
0$0
DEL-BOURRE BACHAPEC
Trustee or director
0$0
MICHAEL CENTRELLAVice President
Officer
0$0
PAUL SELLIERTreasurer
Officer
0$0
BEVERLY SCHIRMEIERPresident
Officer
0$0

Address and contacts

Address (IRS master file)
90 LYME ST, OLD LYME, CT 06371-2367
Signed the 990
PAUL SELLIER, Treasurer
Phone
(860) 510-0133
Return prepared by
Mason DiMarco Shaw & Leone P C

Mission

TO ADVANCE THE CAUSE OF REPRESENTATIONAL FINE ARTS BY OWNING, MAINTAINING,PRESERVING AN HISTORIC BUILDING AND GALLERY IN OLD LYME CT, HOLDING ART EXHIBITS AND CONDUCTING EDUCATIONAL PROGRAMS FOR THE BENEFIT OF THE LOCAL COMMUNITY AND GENERAL PUBLIC.

990 for the year ended December 31, 2024

Program accomplishments

  • TO PROVIDE ART CLASSES TO THE PUBLIC
    Expenses $315,478
  • TO PROVIDE USE OF THE ART GALLERY BY THE MEMBERS
    Expenses $86,056
  • TO PROVIDE EVENTS THAT ENHANCE THE VIEWING OF FINE ART
    Expenses $21,134

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
06-0932073
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1994
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,116,409
Income (IRS master file)
$556,205

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$466,715$497,333$2,116,409IRS
990-TDecember 2024–––IRS
990December 2023$485,803$406,723$2,059,771XML
990-TDecember 2023–––IRS
990December 2022$632,339$455,067$1,894,622IRS
990-TDecember 2022–––IRS
990December 2021–––IRS
990-TDecember 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-0932073).

Questions about LYME ART ASSOC INC

What is the EIN of LYME ART ASSOC INC?
The employer identification number (EIN) of LYME ART ASSOC INC is 06-0932073.
Is LYME ART ASSOC INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
Are donations to LYME ART ASSOC INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does LYME ART ASSOC INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LYME ART ASSOC INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LYME ART ASSOC INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of LYME ART ASSOC INC?
The 990 for the year ended December 31, 2024 lists 16 people; 0 received compensation from the organization.
How much revenue does LYME ART ASSOC INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $466,715, expenses of $497,333 and total assets of $2,116,409 at year end.

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