Luminus Network Inc

Analysis

Luminus Network Inc is a registered charity in United States, based in Columbia, MD. It received its IRS tax-exemption ruling in February 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Luminus Network Inc reported income of $2.4m and spending of $2.6m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $921k to $2.4m (+160%), an average of +27% a year. The sharpest change came in the year to June 2021, when income rose by 137%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Luminus Network Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include TLC Homelessness Board ($2.4m), Main Street Counseling Service ($2.4m) and No Limits Learning Center ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 8.4% of the total. Compensation of current officers, directors and key employees was $156k (6.0% of expenses). Other salaries and wages came to $844k. At year end it held assets of $307k against liabilities of $145k, net assets of $162k. It reported 33 employees.