Longyear Foundation

Analysis

Longyear Foundation is a registered charity in United States, based in Chestnut Hill, MA. It received its IRS tax-exemption ruling in April 1933, 93 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Longyear Foundation reported income of $8.6m and spending of $5.3m, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $8.6m (+80%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 252%. Over the whole period it spent 62% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Longyear Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Palm Springs Air Museum Inc ($8.6m), Gina Gibney Dance Inc ($8.6m) and Chicago Academy of Sciences ($8.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $275k (5.2% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $86.8m against liabilities of $1.7m, net assets of $85.2m. It reported 46 employees.