Culture Lab Lic Inc

Analysis

Culture Lab Lic Inc is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in April 2021, 5 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, Culture Lab Lic Inc reported income of $785k and spending of $804k, spending 102% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $243k to $785k (+223%), an average of +48% a year. The sharpest change came in the year to December 2022, when income rose by 117%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Culture Lab Lic Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Museum of Jurassic Technology ($785k), Williams Grove Historical Steam Engine Association ($786k) and Valdez Museum and Historical Archive Association Incorporated ($785k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 20% of the total. Other salaries and wages came to $300k. At year end it held assets of $155k against liabilities of $1,362, net assets of $153k. It reported 15 employees.