New Legacy Cultural Center Inc

Analysis

New Legacy Cultural Center Inc is a registered charity in United States, based in Lexington, MA. It received its IRS tax-exemption ruling in February 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Legacy Cultural Center Inc reported income of $52k and spending of $52k, spending 98% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $40k to $52k (+31%), an average of +31% a year. The sharpest change came in the year to June 2024, when income rose by 31%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Legacy Cultural Center Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 29th percentile within MA. Charities of a similar size with the same main cause include Friends of the Doubling Point Light ($52k), Transcultural Exchange Inc ($52k) and North American Deer Farmers Assoc Cervid Livestock Foundation ($52k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 86% of the total. At year end it held assets of $30k against liabilities of $230, net assets of $29k.