Life Needs Co Op Inc

Analysis

Life Needs Co Op Inc is a registered charity in United States, based in GT Barrington, MA. It received its IRS tax-exemption ruling in December 1996, 30 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, Life Needs Co Op Inc reported income of $4.5m and spending of $4.7m, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.0m to $4.5m (+14%), an average of +4.5% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life Needs Co Op Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include West Islip Youth Enrichment Services Incorporated ($4.5m), Texas Girls and Boys Ranch ($4.5m) and The Achievable Foundation ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $125k (2.7% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $3.5m against liabilities of $3.0m, net assets of $473k. It reported 109 employees.