Luminos Fund
- Assets
- $13.0m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Boston, MA
- Founding
- 02/2016
- Data as of
- 12/2022
- EIN
- 36-4817073
Organization Overview
Luminos Fund, operating under the name The Luminos Fund, is located in Boston, MA. The organization was established in 2016. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 12/2022, Luminos Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luminos Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Luminos Fund generated $8.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $7.0m during the year ending 12/2022. While expenses have increased by 9.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES TRANSFORMATIVE EDUCATION PROGRAMS TO THOUSANDS OF OUT-OF-SCHOOL CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUMINOS PROVIDES TRANSFORMATIVE EDUCATION PROGRAMS TO THOUSANDS OF OUT-OF-SCHOOL CHILDREN, HELPING THEM TO CATCH UP TO GRADE LEVEL, REINTEGRATE INTO GOVERNMENT SCHOOLS, AND PREPARE FOR LIFELONG LEARNING. LUMINOS WAS FOUNDED TO ENSURE ALL CHILDREN HAVE EQUAL ACCESS TO JOYFUL, FOUNDATIONAL LEARNING, ESPECIALLY THOSE SHUT OUT OF EDUCATION BY CRISIS, POVERTY, OR DISCRIMINATION. THEIR VISION IS OF A WORLD WHERE NO CHILD IS EVER DENIED THE CHANCE TO LEARN. TO DATE, LUMINOS HAS SERVED 218,541 CHILDREN ACROSS ETHIOPIA, GHANA, LIBERIA, LEBANON, AND THE GAMBIA. AS LUMINOS SCALES PIONEERING NEW APPROACHES TO BRING QUALITY EDUCATION TO CHILDREN IN THE GREATEST NEED, THEY WORK TOGETHER WITH LOCAL GOVERNMENTS TO DRIVE SYSTEMS-LEVEL CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caitlin Baron CEO | Officer | 40 | $279,126 |
Anh Le Sr. Dir. Of Finance And Admin | Officer | 40 | $125,000 |
Kwame Akyeampong Director (as Of 12/22) | Trustee | 1 | $20,400 |
Alan Mccormick Chair | OfficerTrustee | 1 | $0 |
Philip Vassiliou Treasurer | OfficerTrustee | 1 | $0 |
George Werner Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Id Insight Inc External Evaluation | 12/30/22 | $159,107 |
Anjali Thadani New Program Development Services | 12/30/22 | $123,000 |
Noorun Khan Curriculum Development | 12/30/22 | $109,992 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,018,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,018,871 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,018,871 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $161,624 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,901,538 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $496,922 |
| Compensation of current officers, directors, key employees. | $215,103 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $996,834 |
| Pension plan accruals and contributions | $17,069 |
| Other employee benefits | $81,032 |
| Payroll taxes | $73,675 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,891 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205,913 |
| Advertising and promotion | $94,246 |
| Office expenses | $123,977 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $87,618 |
| Travel | $172,179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,862 |
| All other expenses | $1,519,485 |
| Total functional expenses | $6,992,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,841,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,069,225 |
| Accounts receivable, net | $4,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,549 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,987 |
| Total assets | $12,992,092 |
| Accounts payable and accrued expenses | $213,862 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $213,862 |
| Net assets without donor restrictions | $8,987,089 |
| Net assets with donor restrictions | $3,791,141 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,992,092 |