Light House Studio Inc

Analysis

Light House Studio Inc is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in July 2001, 25 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 December 2023, Light House Studio Inc reported income of $1.1m and spending of $754k, leaving 32% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $613k to $1.1m (+81%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Light House Studio Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Capitol Civic Center Inc ($1.1m), Nisei Veterans Memorial Center ($1.1m) and Secca Foundation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $429k (57% of expenses). At year end it held assets of $3.2m against liabilities of $18k, net assets of $3.2m. It reported 7 employees.