Lightworks Collective Inc

Analysis

Lightworks Collective Inc is a registered charity in United States, based in Holyoke, MA. It received its IRS tax-exemption ruling in April 2015, 11 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 June 2023, Lightworks Collective Inc reported income of $881k and spending of $843k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $429k to $881k (+105%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lightworks Collective Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Commonwealth Theatre Center Inc ($881k), N1 Foundation Inc ($882k) and George C Marshall International Center Inc ($880k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $95k (11% of expenses). Other salaries and wages came to $453k. At year end it held assets of $780k against liabilities of $0, net assets of $780k. It reported 29 employees.