Ligon Contemporary Art Foundation
EIN: 872353389 · Charlotte, NC · NTEE: A51
| Metric | Value |
|---|---|
| Total Revenue | $279K |
| Total Expenses | $41K |
| Net Assets | $177K |
Is Ligon Contemporary Art Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Ligon Contemporary Art Foundation
Ligon Contemporary Art Foundation (EIN: 872353389) is a nonprofit organization based in Charlotte, NC, classified under NTEE code A51. The organization reported total revenue of $279K and total assets of $284K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ligon Contemporary Art Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ligon Contemporary Art Foundation is a small nonprofit that has been operating for 4 years, with 2 years of IRS 990 filings on record (2021–2022). Revenue has grown at a compound annual rate of -76.9%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $42K |
| Total Expenses | $41K |
| Surplus / Deficit | +$1K |
| Total Assets | $177K |
| Total Liabilities | $1 |
| Net Assets | $177K |
| Operating Margin | 3.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 52.4 months |
Financial Health Grade: A
In 2022, Ligon Contemporary Art Foundation reported a surplus of $1K with revenue exceeding expenses, holds 52.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 2 years of filings (2021–2022), Ligon Contemporary Art Foundation's revenue has declined at a compound annual growth rate (CAGR) of -76.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -76.9% | +564.9% | +0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2022 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Ligon Contemporary Art Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ligon Contemporary Art Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Ligon Contemporary Art Foundation
Is Ligon Contemporary Art Foundation a legitimate charity?
Ligon Contemporary Art Foundation (EIN: 872353389) is a registered tax-exempt nonprofit based in North Carolina. It has 2 years of IRS 990 filings on record. Total revenue: $279K. No red flags identified. Financial health grade: A.
How does Ligon Contemporary Art Foundation spend its money?
Ligon Contemporary Art Foundation reported $279K in total revenue in IRS 990 filings. 2 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Ligon Contemporary Art Foundation tax-deductible?
Ligon Contemporary Art Foundation is registered as a tax-exempt nonprofit (EIN: 872353389). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Ligon Contemporary Art Foundation located?
Ligon Contemporary Art Foundation is headquartered in Charlotte, North Carolina and files with the IRS under EIN 872353389. It is classified under NTEE code A51.
How many years of IRS 990 filings does Ligon Contemporary Art Foundation have?
Ligon Contemporary Art Foundation has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $279K in total revenue.
Filing History
IRS 990 filing history for Ligon Contemporary Art Foundation showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2021–2022), Ligon Contemporary Art Foundation's revenue has declined by 76.9%, moving from $182K to $42K. Total assets increased by 0.8% over the same period, from $176K to $177K. Total functional expenses rose by 564.9%, from $6K to $41K. In its most recent filing year (2022), Ligon Contemporary Art Foundation reported a surplus of $1K, with revenue exceeding expenses. The organization holds $1 in liabilities against $177K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $177K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $42K | $41K | $177K | $1 | — | View 990 |
| 2021 | $182K | $6K | $176K | $1 | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ligon Contemporary Art Foundation:
Data Sources and Methodology
This transparency report for Ligon Contemporary Art Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.