Lighthouse Works INC EIN 46-0865290 Form 990 (PDF) Claim this org

Lighthouse Works INC

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Supports artists through fellowships and fosters year-round cultural vitality on Fishers Island. For fiscal year 2024 it reported $1.1M in revenue, $638K in expenses, and $2.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Fishers Island, NY
Website
www.thelighthouseworks.com
Filings
5 on file (2020–2024)
Revenue
$1.1MFY2024
Expenses
$638K
Net assets
$2.5M
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-0865290 Public charity (501(c)(3)) Fishers Island, NY
Form 990 (PDF)
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Size
$1–10M
What they do
Supports artists through fellowships and fosters year-round cultural vitality on Fishers Island.
Leadership
Heather Burnham · Vice Preside
Money in and out
$1.1M revenue, $638K expenses
Bottom line
84% program efficiency
Where the money goes · FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$638K
Pt IX · Ln 25
Net assets
$2.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $426K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.09 Fundraising $0.07
Program efficiency
84%
of spending reaches programs▲ +1% vs prior filing year
Operating runway
19.2mo
months of highly liquid reserves at operating expense rate▲ +51% vs prior filing year
Surplus margin
+40%
revenue over expenses, this year▲ +6% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.1M
FY2024▲ +1%
Expenses
$638K
FY2024▼ -2%
Total assets
$2.5M
FY2024▲ +21%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$638K
Pt IX · Ln 25
Net assets
$2.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$426K
Total assetsPt X · Ln 16$2.5M
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $536K of program spending, described in the organization's own filed words · FY2024.
01

The lighthouse works is devoted to encouraging the development of artists through a fellowship program and to the year round cultural vitality of fishers island.

$536Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLighthouse Works INC
EINHdr · item D46-0865290
Principal addressHdr · item CFishers Island, NY
WebsiteHdr · item Jwww.thelighthouseworks.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A25)
Ruling yearIRS BMFDec 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice Preside
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$1.0M · 97%
Investment income$16K · 2%
Program service revenue$16K · 1%
Contributions & grants97%$1.0M
Investment income2%$16K
Program service revenue1%$16K
Total revenueLn 12$1.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.09 Fundraising $0.07
Program services84%$536K
Management & general9%$57K
Fundraising7%$45K
Total functional expensesLn 25$638K

Balance Sheet

Part X · end of year
CashLn 1$555K
Total assetsLn 16$2.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$2.5M
Months of cash on handcomputed10.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $555K · Operating expenses (Pt IX) $638K · Less non-cash grants $291K · Cash operating expenses/yr $347K
19.2 months
Where the money goes
Program services
Program services $536K · Total expenses $638K
84%
Management & General
Management & general $57K · Total expenses $638K
9%
Fundraising
Fundraising $45K · Total expenses $638K
7%
Cost to raise $1
Fundraising expense (3-yr avg) $49K · Solicited contributions (3-yr avg) $1.1M
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.0M · Total revenue $1.1M
97%
Government reliance
Government grants — · Total revenue $1.1M
Earned-income share
Program service revenue $16K · Total revenue $1.1M
1%
Investment reliance
Investment income $16K · Total revenue $1.1M
+2%
Program self-sufficiency
Program service revenue $16K · Total expenses $638K
2%
Growth & trend
Revenue growth (YoY)
This year $1.1M · Prior year $1.0M
+1%
Revenue CAGR
FY2020 $374K · FY2024 $1.1M
+30%
Net-asset trend (YoY)
End of year $2.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.1M · Expenses $638K
+40%
Liabilities-to-Assets
Total liabilities — · Total assets $2.5M
Net-asset ratio
Net assets $2.5M · Total assets $2.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Heather Burnham · Reported title VICE PRESIDE · Highest reported compensation $0 · Total expenses $638K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $201K · Total expenses $638K
31%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%
Overhead ratio 9%
Fundraising cost ratio 4%
Revenue growth 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.1M revenue · viewing · ⤓ 990 PDF
FY2023$1.0M revenue · ⤓ 990 PDF
FY2022$1.4M revenue · ⤓ 990 PDF
FY2021$614K revenue · ⤓ 990 PDF
FY2020$374K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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