Life Time Foundation

Analysis

Life Time Foundation is a registered charity in United States, based in Chanhassen, MN. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Life Time Foundation reported income of $2.9m and spending of $2.6m, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $2.9m to $2.9m (-1.4%), an average of -0.7% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Life Time Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MN. Charities of a similar size with the same main cause include Ecyc Inc ($2.9m), College of the Redwoods Foundation ($2.9m) and Trinity Montessori School Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $42k (1.6% of expenses). Other salaries and wages came to $339k. At year end it held assets of $2.3m against liabilities of $274k, net assets of $2.1m. It reported 6 employees.