Lifeway Network Inc

Analysis

Lifeway Network Inc is a registered charity in United States, based in Tarrytown, NY. It received its IRS tax-exemption ruling in September 2019, 7 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, Lifeway Network Inc reported income of $898k and spending of $1.2m, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $898k (-15%), an average of -4.0% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lifeway Network Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Baltimore Rescue Mission Inc ($897k), San Luis Valley Great Outdoors ($898k) and Arts and Humanities Council of Tuscaloosa County Inc ($897k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $285k (24% of expenses). Other salaries and wages came to $442k. At year end it held assets of $662k against liabilities of $17k, net assets of $645k. It reported 29 employees.