Lumity

Nonprofit profile at a glance

EIN
363547903
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3123724872
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Computer Science

Official website

Reported finances

Revenue
$2,922,516
Expenses
$2,844,247
Assets
$1,920,402
Liabilities
$681,830

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • KARA KENNEDY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KARA KENNEDY (EXECUTIVE DIRECTOR): $163,308 total reported compensation
  • MICHAEL HURLEY (EMPLOYEE): $122,230 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lumity and our partners seek to break down the barriers between stem-related businesses, chicagoland schools, and under-resourced chicagoland communities. We work with over 25 corporate partners and five high schools to provide teens with transformational stem experiences, so that they are prepared for and inspired to pursue stem careers. We bring corporate mentors into schools- and youth into companies. Lumity successfully matches nonprofit employers to job seekers through npo.net, a nonprofit job board created by lumity in 1995.

What it reported doing in 2024

Lumity and our partners seek to break down the barriers between stem-related businesses, chicagoland schools, and under-resourced chicagoland communities. We work with over 25 corporate partners and five high schools to provide teens with transformational stem experiences, so that they are prepared for and inspired to pursue stem careers. We bring corporate mentors into schools- and youth into companies.

Operating model

Revenue model
Grant-funded. 73% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.9%; rating input score 87
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: $17.36 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.7%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 86.9% of revenue deployed · 89.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $163K · 21 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.