Luma Arts Initiative Inc

Analysis

Luma Arts Initiative Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in March 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Luma Arts Initiative Inc reported income of $198k and spending of $179k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $134k to $198k (+48%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 90% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Luma Arts Initiative Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within NY. Charities of a similar size with the same main cause include David H Garrett Foundation ($198k), Birchard Library Association Foundation ($198k) and E Kneale Dockstader Foundation ($198k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $60k against liabilities of $19k, net assets of $41k.