Luma8

Analysis

Luma8 is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 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 December 2023, Luma8 reported income of $437k and spending of $435k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $181k to $437k (+141%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 102%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Luma8 sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include The Codex Foundation ($437k), Global Social Services ($437k) and Honor and Remember ($437k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $132k (30% of expenses). At year end it held assets of $31k against liabilities of $0, net assets of $31k.