Living Arts & Science Center Inc

Analysis

Living Arts & Science Center Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in April 1969, 57 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, Living Arts & Science Center Inc reported income of $599k and spending of $819k, spending 137% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $816k to $599k (-27%), an average of -7.5% a year. The sharpest change came in the year to June 2020, when income dropped by 18%. Over the whole period it spent 125% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Living Arts & Science Center Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within KY. Charities of a similar size with the same main cause include Musics Promise ($598k), Rhythmix Cultural Works ($599k) and Anne Frank Center USA ($598k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $36k (4.4% of expenses). Other salaries and wages came to $270k. At year end it held assets of $4.5m against liabilities of $100k, net assets of $4.4m. It reported 42 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.