Living Traditions Inc

Analysis

Living Traditions Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 1994, 32 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Living Traditions Inc reported income of $1.1m and spending of $1.1m, spending 99% of its income. Across the 6 years on record, from June 2018 to June 2023, income grew from $422k to $1.1m (+156%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 109%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Living Traditions Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Audio Information Network of Colorado ($1.1m), Next Act Theatre Inc ($1.1m) and Lyric Opera of Kansas City FDN ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $102k (9.5% of expenses). Other salaries and wages came to $441k. At year end it held assets of $268k against liabilities of $13k, net assets of $255k. It reported 48 employees.