Life Center of New York Inc

Analysis

Life Center of New York Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1988, 38 years ago. 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 Center of New York Inc reported income of $69k and spending of $77k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $62k to $69k (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2023, when income rose by 800%. Over the whole period it spent 125% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Life Center of New York Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Georgia Extension 4-H Foundation ($69k), Sheriffs Association of New Jersey ($69k) and American Society of Plant Taxonomists ($69k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% of the total. Other salaries and wages came to $16k. At year end it held assets of $207k against liabilities of $0, net assets of $207k.

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.