Parachute Factory General Information Contact Information nprofit Parachute Factory Address 720 BRYAN AVE LEXINGTON, KY 40505 Phone (865) 696-0871 Email Stevie Morrison: stevie@parachutefactorylex.com Contact Name Stevie Morrison Web and Social Media Website Facebook Twitter Website Facebook Twitter At A Glance IRS Ruling Year 2016 1
Other ways to donate, support, or volunteer Monetary donations can be made to the Parachute Factory by contacting Stevie Morrison at stevie@parachutefactorylex.com. We accept in-kind donations when possible, and are always in need of volunteers to help us staff events, perform gallery maintenance, or staff open gallery hours. 2
Statements & Search Criteria Statements Mission Statement Located in the heart of Lexington s rthside, The Parachute Factory exists as a non-profit, multi-use space to promote artistic endeavors and community engagement. We provide a friendly and inviting exhibition space for artists that not only heralds artistic merit, but also thrives through community outreach. Background Statement The Parachute Factory was launched by a group of local artists from the Lexington Guild of Printmakers in 2016. The space was born out of a need for a professional exhibition space accessible to both artists and community members alike. When presented with an affordable space in an old parachute factory warehouse, Guild members seized the opportunity. Three weeks and over 150 volunteer hours later, TPF opened its doors to the public with its first exhibition. TPF founders quickly realized they were not alone in search for a quality multi-use space. Within days of opening, there were requests coming in to use the space for art exhibitions, ukulele lessons, music shows, and theatre rehearsals. This compelling response confirmed that the direct community would truly benefit from the existence of TPF.In addition to its ability to accommodate all branches of the arts, The Parachute Factory is volunteer-run and community-driven; all events are free and open to the public. Impact Statement Our goals and accomplishments rely heavily on our mission statement. As a volunteer group of artists living and working on the rthside of Lexington, we are passionate about providing a professional space for all areas of the arts. The results of our efforts are qualitative rather than quantitative. They appear in smiling community members enjoying art, food, and stories together in our space.they appear in our artists feeling more confident about their work from new engagement in a professional space. They appear in the music shows, the poetry nights, the drag shows, and the community sing events.some of our more quantitative accomplishments in 2017 were:1) We hosted ten month-long gallery exhibitions, nine featuring Kentucky artists.2) We hosted 21 community events, all free and open to the public.3) We received our first major private donation, allowing us to undergo major renovation of our space. We installed drywall over our cinder block walls and installed fans for heat and air circulation.4) We designated a volunteer coordinator and launched a volunteer program.in 2018, we hope to continue doing what we re doing, but do it more, and do it better:1) Feature Kentucky-specific artists, focusing on those benefiting our community the most.2) Host 25-30 community events, focusing more closely on events that directly serve our community.3) Partner with other collectives that share our vision for more accessible community art projects.4) Raise enough funds to make our space handicap accessible, which will include the construction of a ramp and a new, ADA-compliant door. Needs Statement The Parachute Factory accepts both monetary and in-kind donations. Here are a few things on the list for 2018: 1) Monetary donations for operating costs2) Monetary and in-kind donations for handicap accessibility renovations 3) Social Media Manager (in-kind or volunteer)4) Gallery Assistant (in-kind or volunteer)5) Volunteers! Service Categories Primary Organization Category Arts,Culture & Humanities / Arts & Culture Geographic Areas Served Areas Kentucky Fayette County 3
The Parachute Factory is a space open to all people, but scheduling preference is given to those living or working on the rth and East Ends of Lexington. 4
Programs Programs Monthly Gallery Exhibitions Description Month-long visual arts exhibitions accepted and scheduled through a biannual open call on the website. The Parachute Factory provides a friendly and inviting exhibition space for artists that not only herald artistic merit, but also thrive through community outreach. Preference is given to artists and community members interested in the specific environment provided at TPF, and the exhibitions are free and open to the public to both apply and attend. Population Served,, Community Events Description The Parachute Factory accepts applications for community events including, but not limited to, music shows, literary readings, performances, and community meetings. These events must be free and open to the public. Population Served,, 5
Leadership & Staff CEO/Executive Director Executive Director Sarah Brown Term Start May 2016 Email sarah@parachutefactorylex.com Co-CEO Co-CEO Stevie Morrison Term Start May 2016 Staff Full Time Staff 0 Part Time Staff 4 Volunteers 7 Contractors 0 Retention Rate 0% Staff Demographics - Ethnicity African American/Black 0 Asian American/Pacific Islander 0 Caucasian 4 Hispanic/Latino 0 Native American/American Indian 0 Other 0 Staff Demographics - Gender Male 1 Female 3 Unspecified 0 6
Plans & Collaborations Plans & Policies Organization has a Fundraising Plan? Organization has a Strategic Plan? Management Succession Plan? Organization Policy and Procedures ndiscrimination Policy Whistleblower Policy Document Destruction Policy Directors and Officers Insurance Policy Under Development 7
Board & Governance Board Chair Board Chair Sarah Brown Company Affiliation Gallery Director Term May 2016 to 0 Board Members Name Affiliation Status Ellen McCann Registrar Voting Sarah Brown Gallery Director Voting Greg Lamer Gallery Assistant Voting Stevie Morrison Community Events Director, Facilities Manager Voting Board Demographics - Ethnicity African American/Black 0 Asian American/Pacific Islander 0 Caucasian 4 Hispanic/Latino 0 Native American/American Indian 0 Other 0 0 Board Demographics - Gender Male 1 Female 3 Unspecified 0 Governance Board Term Lengths 3 Board Term Limits 0 Board Meeting Attendance % 100% Written Board Selection Criteria? Written Conflict of Interest Policy? Under Development Percentage Making Monetary Contributions 0% Percentage Making In-Kind Contributions 0% Number of Full Board Meetings Annually 12 Board Co-Chair 8
Board CoChair Stevie Morrison Company Affiliation Community Events Director Term May 2016 to 0 9
Financials Fiscal Year Fiscal Year Start Jan 01, 2018 Fiscal Year End Dec 31, 2018 Projected Revenue $16,025.00 Projected Expenses $41,025.00 Endowment Value $0.00 Percentage 0% Detailed Financials Revenue and Expenses Total Revenue $15,351 -- -- Total Expenses $11,088 -- -- Revenue Sources Foundation and Corporation -- -- -- Contributions Government Contributions $0 $0 $0 Federal -- State -- Local -- Unspecified -- Individual Contributions $13,673 -- -- Indirect Public Support -- -- -- Earned Revenue $1,678 -- -- Investment Income, Net of Losses -- -- -- Membership Dues -- -- -- Special Events -- -- -- Revenue In-Kind -- -- -- Other -- -- -- 10
Expense Allocation Program Expense $9,688 -- -- Administration Expense $1,400 -- -- Fundraising Expense -- -- -- Payments to Affiliates -- -- -- Total Revenue/Total Expenses 1.38 -- -- Program Expense/Total Expenses 87% -- -- Fundraising Expense/Contributed Revenue 0% -- -- Assets and Liabilities Total Assets $5,388 -- -- Current Assets $5,388 -- -- Long-Term Liabilities -- -- -- Current Liabilities -- -- -- Total Net Assets $5,388 -- -- Short Term Solvency Current Ratio: Current Assets/Current Liabilities -- -- -- Long Term Solvency Long-Term Liabilities/Total Assets 0% -- -- Top Funding Sources Top Funding Source & Dollar Amount -- -- -- Second Highest Funding Source & Dollar -- -- -- Amount Third Highest Funding Source & Dollar Amount -- -- -- Capital Campaign Currently in a Capital Campaign? Campaign Purpose TBA Goal $0.00 Dates June 2018 to Dec 2018 Capital Campaign Anticipated in Next 5 Years? Yes 11
Documents Form 990s 990n Created 03.27.2019. Copyright 2019 Blue Grass Community Foundation 12