Lubbock Experience Incorporated

Analysis

Lubbock Experience Incorporated is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in August 2007, 19 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, Lubbock Experience Incorporated reported income of $2.3m and spending of $317k, leaving 86% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $2.3m (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2023, when income rose by 617%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lubbock Experience Incorporated sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Foundation for the Arts ($2.3m), Musicians Hall of Fame and Museum ($2.3m) and National Hellenic Museum ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $165k (52% of expenses). It paid $14k in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $0, net assets of $2.3m. It reported 2 employees.