Lifetime Arts

Analysis

Lifetime Arts is a registered charity in United States, based in Pelham, NY. It received its IRS tax-exemption ruling in August 2008, 18 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 2022, Lifetime Arts reported income of $984k and spending of $1.3m, spending 130% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.2m to $984k (-16%), an average of -5.5% a year. The sharpest change came in the year to December 2021, when income dropped by 50%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lifetime Arts sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include International Churchill Society ($984k), Ballet Five Eight NFP ($984k) and Cabin Creek Center for Work and Environmental Studies Inc ($984k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $132k (10% of expenses). Other salaries and wages came to $715k. At year end it held assets of $228k against liabilities of $246, net assets of $228k. It reported 25 employees.