Libertyme Foundation

Analysis

Libertyme Foundation is a registered charity in United States, based in Villanova, PA. It received its IRS tax-exemption ruling in May 2014, 12 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 December 2023, Libertyme Foundation reported income of $70k and spending of $70k, spending 101% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $324k to $70k (-78%), an average of -40% a year. The sharpest change came in the year to December 2022, when income dropped by 68%. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Libertyme Foundation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within PA. Charities of a similar size with the same main cause include Minnesota Chromatography Forum ($70k), LA Daiku Association Inc ($70k) and Own Your Own Universe ($70k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. At year end it held assets of $6 against liabilities of $0, net assets of $6.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.