Lifes Potential Services Inc

Analysis

Lifes Potential Services Inc is a registered charity in United States, based in Westminster, MD. It received its IRS tax-exemption ruling in October 2015, 11 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 December 2023, Lifes Potential Services Inc reported income of $619k and spending of $560k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $486k to $619k (+27%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Lifes Potential Services Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Bike Union Mentoring Project ($618k), Claremont Stars Soccer Club Inc ($619k) and Horizons New York City ($618k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Other salaries and wages came to $156k. At year end it held assets of $140k against liabilities of $54k, net assets of $86k.