Lumedia Musicworks Inc

Analysis

Lumedia Musicworks Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in July 2017, 9 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 July 2024, Lumedia Musicworks Inc reported income of $87k and spending of $76k, spending 87% of its income. Across the 3 years on record, from July 2022 to July 2024, income grew from $28k to $87k (+215%), an average of +77% a year. The sharpest change came in the year to July 2023, when income rose by 179%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lumedia Musicworks Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 35th percentile within TX. Charities of a similar size with the same main cause include Pikes Peak Region Peace Officers Memorial ($87k), Gujarati Samaj of Greater Cleveland ($87k) and Music for Autism Inc ($87k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 91% and program service revenue 9.4% of the total. At year end it held assets of $18k against liabilities of $780, net assets of $18k.