Omega Life Membership Foundation Inc

Analysis

Omega Life Membership Foundation Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 1989, 37 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 March 2023, Omega Life Membership Foundation Inc reported income of $1.1m and spending of $679k, leaving 36% of income unspent that year. Across the 4 years on record, from March 2020 to March 2023, income grew from $835k to $1.1m (+27%), an average of +8.2% a year. The sharpest change came in the year to March 2021, when income rose by 59%. Over the whole period it spent 43% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Omega Life Membership Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 56th percentile within DC. Charities of a similar size with the same main cause include Friends of Anacostia Park ($1.1m), Civic NYC Fund Inc ($1.1m) and Taste of the South Committee ($1.1m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 151% and program service revenue 3.4% of the total. At year end it held assets of $9.1m against liabilities of $348, net assets of $9.1m.