Lumibility Inc

Analysis

Lumibility Inc is a registered charity in United States, based in Westbrook, CT. It received its IRS tax-exemption ruling in July 1960, 66 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Lumibility Inc reported income of $13.2m and spending of $12.7m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.7m to $13.2m (+51%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lumibility Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within CT. Charities of a similar size with the same main cause include Second Chance Inc ($13.2m), Choose New Jersey Inc ($13.2m) and On Our Own Services Inc Welfare TR ($13.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $347k (2.7% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $11.0m against liabilities of $4.3m, net assets of $6.6m. It reported 194 employees.