Lifespire Inc

Analysis

Lifespire Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1961, 65 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Lifespire Inc reported income of $105.7m and spending of $97.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $100.4m to $105.7m (+5.2%), an average of +1.3% a year. The sharpest change came in the year to June 2022, when income rose by 33%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifespire Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Goodwill Industries of the Valley Works ($105.5m), Jewish Home ($105.8m) and Chimes District of Columbia Inc ($105.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $864k (0.9% of expenses). Other salaries and wages came to $39.1m. At year end it held assets of $148.2m against liabilities of $90.3m, net assets of $57.9m. It reported 1,077 employees.