Lifebridge Community Services Inc

Analysis

Lifebridge Community Services Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in February 1934, 92 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lifebridge Community Services Inc reported income of $8.0m and spending of $8.7m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $9.4m to $8.0m (-15%), an average of -5.3% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifebridge Community Services Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Consumer Services Inc ($8.0m), Bergen Family Center Inc ($8.0m) and Hopephl ($8.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $410k (4.7% of expenses). Other salaries and wages came to $4.3m. At year end it held assets of $3.4m against liabilities of $2.3m, net assets of $1.2m. It reported 167 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.