Lumity

Analysis

Lumity is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 1988, 38 years ago. Its declared purposes cover science and technology, 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 June 2023, Lumity reported income of $2.4m and spending of $2.5m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $2.4m (+108%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 54%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lumity sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Theatre Memphis ($2.4m), Political Research Associates ($2.4m) and New Mexico Philharmonic Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 8.4% of the total. Compensation of current officers, directors and key employees was $227k (9.1% of expenses). Other salaries and wages came to $711k. At year end it held assets of $1.4m against liabilities of $402k, net assets of $1.0m. It reported 14 employees.