Lost Debate Inc

Analysis

Lost Debate Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 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, Lost Debate Inc reported income of $1.4m and spending of $2.5m, spending 176% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $3.5m to $1.4m (-59%), an average of -36% a year. The sharpest change came in the year to December 2023, when income dropped by 59%. 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, Lost Debate Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 61st percentile within DC. Charities of a similar size with the same main cause include Wortham Center Operating Company ($1.4m), Kingdom Air Corps Inc ($1.4m) and LA Crosse Community Theatre Inc ($1.4m).

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 $317k (13% of expenses). Other salaries and wages came to $730k. At year end it held assets of $891k against liabilities of $141k, net assets of $749k. It reported 18 employees.