Lambda Literary Foundation

Analysis

Lambda Literary Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1997, 29 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 (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, Lambda Literary Foundation reported income of $1.7m and spending of $1.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $332k to $1.7m (+410%), an average of +50% a year. The sharpest change came in the year to June 2020, when income rose by 208%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lambda Literary Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Foundation for Marine Ecology and Telemetry Research ($1.7m), Jasmine Moran Childrens Museum Foundation Inc ($1.7m) and Radius Books Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $137k (8.2% of expenses). Other salaries and wages came to $456k. At year end it held assets of $1.4m against liabilities of $294k, net assets of $1.1m. It reported 11 employees.