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Lucis Trust

Tax-deductible

New York, NY501(c)(3)Education EIN 13-1674445Revenue $217K in FY2024

On file with the IRSlucistrust.org866 United Nations Plz Rm 482, 10017-1872 · New York, NYTax-exempt since Jul 1935Publicly supported charity — 170(b)(1)(A)(vi)

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The establishment of right human relations.

501(c)(3) charity; gifts are tax-deductible.
Run by 6 volunteers and 10 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $23K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
584%
of spending
Looks good: 584% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$45K
to officers and key staff · 33% of spending
Top officer’s pay lower than 65% of similar orgs
Concern: pay to officers and key staff is 33% of spending; over 30%.
Pt VII · Sec A
Cash reserves
21 mo
of spending, in cash
Plus $1.2M in investments, Pt X · Ln 11–13
Looks good: 20.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $22K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
68% of total assets
Worth a look: liabilities are 68% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$217K
-86% vs prior year
Spent
$137K
To programs
584%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$217K
FY2024▼ -86%
Tap a bar for its year
Revenue by fiscal year
FY2020$713K
FY2021$638K
FY2022$731K
FY2023$1.6M
FY2024$217K
Expenses
$137K
FY2024▼ -87%
Tap a bar for its year
Expenses by fiscal year
FY2020$884K
FY2021$855K
FY2022$845K
FY2023$1.0M
FY2024$137K
Net assets
$2.7M
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.1M
FY2022$1.9M
FY2023$2.5M
FY2024$2.7M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1935.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

584 cents of each dollar spent went to programs.

Program services 584% · $800K Management & general 101% · $138K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $45K paid to officers and key staff.

Part VII, Section A · reportable compensation
Michael Galloway
Secretary & Treasurer
$44,710Pt VII · Sec A
Laurence Newey
Vice President
$0Pt VII · Sec A
Stephen I Nation
Board Member
$0Pt VII · Sec A
Derek Fraser
Board Member
$0Pt VII · Sec A
Christine Morgan
President & Chairman
$0Pt VII · Sec A
Barbara Valocore
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Peter H Peuler
Board Member
$0Pt VII · Sec A

Michael Galloway’s $45K as Secretary & Treasurer is at the 35th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Michael Galloway$44,710$44,710$44,710——
Stephen I Nation———$7,000$7,000
Stephen I Nation Former——$4,667——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes understanding and cooperation between people for a better society.

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Provided by the organization

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1 program · $800K · in their own filed words · FY2024
01

Promoting the education of the human mind towards recognition and practice of the spiritual principles and values upon which a stable and interdependent world society may be based.

$800Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$12K
Donor Advised Charitable Giving INCFY2024$11K
Total grants receivedfrom 2 funders$22K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$217K
Ln 12
Gifts and grantsLn 1h$1.0M
Investment incomeLn 3$312K
Money outPt IX
$137K
Ln 25
Programscol B$800K
Managementcol C$138K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$238K
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Investment incomeLn 3$312K
Gains on assetsLn 7$209K
Total revenueLn 12$217K
Assets in detailPt X, end of year
CashLn 1$133K
SavingsLn 2$106K
Cash and savings togetherLn 1–2$238K
InvestmentsLn 11–13$1.2M
Land, buildings, equipmentLn 10c$2.9M
Other assetsLn 15$42K
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.8M
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 510
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$853K$238K
InvestmentsLn 11–13$596K$1.2M
Land, buildings, equipmentLn 10c$3.0M$2.9M
Total assetsLn 16$4.5M$4.3M
LiabilitiesLn 26$2.0M$1.8M
Net assetsLn 32$2.5M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$800$800
Pay of current officers, directors and key staffLn 5$45K$41K$4K
Other salaries and wagesLn 7$202K$184K$17K
Other employee benefitsLn 9$20K$18K$2K
Payroll taxesLn 10$21K$19K$2K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$22K$22K
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$100K$71K$29K
Office expensesLn 13$23K$21K$2K
Information technologyLn 14$24K$24K$473
OccupancyLn 16$61K$56K$6K
InterestLn 20$132K$120K$12K
Depreciation, depletion and amortizationLn 22$131K$118K$13K
InsuranceLn 23$12K$11K$1K
Other expenses (24a–d)Ln 24$101K$97K$5K
All other expensesLn 24e$31K$20K$11K
Total functional expensesLn 25$938K$800K$138K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $217K$137K$80K$2.7M 990 PDF
FY2023 $1.6M$1.0M$536K$2.5M 990 PDF
FY2022 $731K$845K−$114K$1.9M 990 PDF
FY2021 $638K$855K−$218K$2.1M 990 PDF
FY2020 $713K$884K−$172K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,321,829 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,390,793$1,010,254
I-9 Program service revenuePrior year $69,028$0
I-10 Investment incomePrior year $111,373$311,575
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,571,194$1,321,829
I-13 Grants and similar amounts paidPrior year $0$800
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $395,715$286,738
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $639,383$649,963
I-18 Total expensesPrior year $1,035,098$937,501
I-19 Revenue less expensesPrior year $536,096$384,328
Part VI · Governance 5 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,321,829 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,010,254
VIII-1h Total contributions, gifts and grants$1,010,254
VIII-3 Investment incomeExcluded from tax $102,588$102,588
VIII-7 Net gain or loss on sales of assetsExcluded from tax $208,987$208,987
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $311,575$1,321,829
Part IX · Statement of functional expenses $937,501 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $800$800
IX-5 Pay of current officers, directors and key staffPrograms $40,871 · Management $3,839$44,710
IX-7 Other salaries and wagesPrograms $184,438 · Management $17,324$201,762
IX-9 Other employee benefitsPrograms $17,718 · Management $1,802$19,520
IX-10 Payroll taxesPrograms $18,831 · Management $1,915$20,746
IX-11b Legal feesManagement $7,214$7,214
IX-11c Accounting feesManagement $22,500$22,500
IX-11f Investment management feesManagement $3,979$3,979
IX-11g Other fees for servicesPrograms $71,470 · Management $29,000$100,470
IX-13 Office expensesPrograms $20,538 · Management $2,038$22,576
IX-14 Information technologyPrograms $23,717 · Management $473$24,190
IX-16 OccupancyPrograms $55,527 · Management $5,510$61,037
IX-20 InterestPrograms $119,809 · Management $11,888$131,697
IX-22 Depreciation, depletion and amortizationPrograms $118,265 · Management $13,084$131,349
IX-23 InsurancePrograms $11,254 · Management $1,117$12,371
IX-24 Other expenses (24a–d)Programs $96,548 · Management $4,828$101,376
IX-24e All other expensesPrograms $19,993 · Management $11,211$31,204
IX-25 Total functional expensesPrograms $799,779 · Management $137,722 · Fundraising $0$937,501
Part X · Balance sheet $4,320,448 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $725,167$132,501
X-2 Savings and temporary cash investmentsStart of year $127,800$105,500
X-9 Prepaid expenses and deferred chargesStart of year $2,805$2,500
X-10c Land, buildings and equipment, netStart of year $2,985,083$2,885,031
X-11 Publicly traded securitiesStart of year $596,399$1,153,366
X-15 Other assetsStart of year $0$41,550
X-16 Total assetsStart of year $4,511,964$4,320,448
X-17 Accounts payable and accrued expensesStart of year $36,423$17,868
X-26 Total liabilitiesStart of year $2,040,225$1,815,558
X-27 Net assets without donor restrictionsStart of year $2,471,739$2,504,890
X-32 Total net assets or fund balancesStart of year $2,471,739$2,504,890
X-33 Total liabilities and net assetsStart of year $4,511,964$4,320,448
Part XI · Reconciliation of net assets $2,504,890 net assets at year end
XI-1 Total revenue$1,321,829
XI-2 Total expenses$937,501
XI-3 Revenue less expenses$384,328
XI-4 Net assets at start of year$2,471,739
XI-5 Net unrealized gains (losses) on investments−$176,720
XI-8 Prior period adjustments−$125,620
XI-9 Other changes in net assets−$48,837
XI-10 Net assets at end of year$2,504,890

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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