The Lynnwood Foundation

Analysis

The Lynnwood Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 1996, 30 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, The Lynnwood Foundation reported income of $5.3m and spending of $6.2m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.1m to $5.3m (+3.4%), an average of +0.8% a year. The sharpest change came in the year to December 2021, when income rose by 124%. Over the whole period it spent 104% 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 Lynnwood Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Ghetto Film School Inc ($5.3m), Music Showcase Festivals Inc ($5.3m) and James a Michener Art Museum ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $502k (8.1% of expenses). Other salaries and wages came to $2.4m. It paid $155k in professional fundraising fees. At year end it held assets of $25.4m against liabilities of $5.8m, net assets of $19.6m. It reported 38 employees.