Lovewell Institute for the Creative Arts

Analysis

Lovewell Institute for the Creative Arts is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in April 1989, 37 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, Lovewell Institute for the Creative Arts reported income of $336k and spending of $331k, spending 99% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $299k to $336k (+13%), an average of +2.4% a year. The sharpest change came in the year to December 2020, when income dropped by 30%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lovewell Institute for the Creative Arts sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within FL. Charities of a similar size with the same main cause include We Always Swing Inc ($336k), Hands-On Science Center Inc ($336k) and Allegro Community Music School ($336k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $63k (19% of expenses). Other salaries and wages came to $106k. At year end it held assets of $61k against liabilities of $11k, net assets of $50k. It reported 4 employees.