Lyme Art Assoc Inc

Analysis

Lyme Art Assoc Inc is a registered charity in United States, based in Old Lyme, CT. It received its IRS tax-exemption ruling in January 1994, 32 years ago. 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, Lyme Art Assoc Inc reported income of $486k and spending of $407k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $371k to $486k (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lyme Art Assoc Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include Highlandtown Volunteer Fire Department Incorporated ($486k), Continental Societies Inc ($486k) and Missionary Revival Crusade Inc ($486k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 30% of the total. Other salaries and wages came to $166k. At year end it held assets of $2.1m against liabilities of $2,906, net assets of $2.1m. It reported 7 employees.