Luminos Fund

Analysis

Luminos Fund is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Luminos Fund reported income of $11.5m and spending of $9.8m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $11.5m (+82%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Luminos Fund sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Communities in Schools of the Dallas Region ($11.5m), Possible Project Inc ($11.5m) and Mary McLeod Bethune Day Academy ($11.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $540k (5.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $14.9m against liabilities of $319k, net assets of $14.6m. It reported 14 employees.