Large Binocular Telescope Corporation

Analysis

Large Binocular Telescope Corporation is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in June 1997, 29 years ago. Its declared purposes cover science and technology, 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, Large Binocular Telescope Corporation reported income of $24.1m and spending of $22.6m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.4m to $24.1m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2023, when income rose by 95%. Over the whole period it spent 129% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Large Binocular Telescope Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within AZ. Charities of a similar size with the same main cause include Allied Media Projects Inc ($24.0m), Bethel Woods Center for the Arts Inc ($24.1m) and Behavioral Ideas Lab Inc ($24.0m).

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 $20k (0.1% of expenses). At year end it held assets of $101.6m against liabilities of $7.7m, net assets of $93.9m.