Lifeworks Incorporated

Analysis

Lifeworks Incorporated is a registered charity in United States, based in Westwood, MA. It received its IRS tax-exemption ruling in July 1984, 42 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, Lifeworks Incorporated reported income of $32.1m and spending of $34.4m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.1m to $32.1m (+77%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 35%. 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, Lifeworks Incorporated sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Total Community Action Inc ($32.1m), Port Health Services ($32.1m) and Arkansas Support Network Inc ($32.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $478k (1.4% of expenses). Other salaries and wages came to $19.3m. At year end it held assets of $42.5m against liabilities of $13.7m, net assets of $28.8m. It reported 659 employees.