Lifenet Inc a New Jersey Non-Profit Corporation

Analysis

Lifenet Inc a New Jersey Non-Profit Corporation is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in June 1995, 31 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 December 2023, Lifenet Inc a New Jersey Non-Profit Corporation reported income of $388k and spending of $390k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $515k to $388k (-25%), an average of -6.8% a year. The sharpest change came in the year to December 2022, when income rose by 36%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifenet Inc a New Jersey Non-Profit Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 72nd percentile within NJ. Charities of a similar size with the same main cause include Kentucky Hunters for the Hungry Inc ($388k), Narrative Arts ($389k) and World Compassion Network Inc ($388k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $129k (33% of expenses). Other salaries and wages came to $169k. At year end it held assets of $350k against liabilities of $0, net assets of $350k. It reported 7 employees.