Lakewood Young Filmmakers Academy

Analysis

Lakewood Young Filmmakers Academy is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in May 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lakewood Young Filmmakers Academy reported income of $68k and spending of $75k, spending 109% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $81k to $68k (-16%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 116% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lakewood Young Filmmakers Academy sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 27th percentile within OH. Charities of a similar size with the same main cause include Cultivating Creative Minds ($68k), Childrens Institute of Fashion Arts Inc ($68k) and Returning Soldiers Speak ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. At year end it held assets of $4,704 against liabilities of $0, net assets of $4,704.