The Light Factory

Analysis

The Light Factory is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in November 1977, 49 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, The Light Factory reported income of $216k and spending of $237k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $285k to $216k (-24%), an average of -6.6% a year. The sharpest change came in the year to June 2022, when income dropped by 20%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Light Factory sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NC. Charities of a similar size with the same main cause include Senior Citizens of Logan County Inc ($216k), The Other Side of the Hill Productions Inc ($216k) and Chesapeake Childrens Museum Inc ($216k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $52k (22% of expenses). Other salaries and wages came to $66k. At year end it held assets of $118k against liabilities of $4,056, net assets of $114k. It reported 4 employees.

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.