Lifes Worc Inc

Analysis

Lifes Worc Inc is a registered charity in United States, based in Mineola, NY. It received its IRS tax-exemption ruling in April 1972, 54 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, Lifes Worc Inc reported income of $68.3m and spending of $68.3m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $54.9m to $68.3m (+25%), an average of +5.6% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifes Worc Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Young Mens Christian Association of Pierce and Kitsap Counties ($68.3m), Lutheran Social Services of Wisconsin and Upper Michigan ($68.3m) and African American Planning Commission Inc ($68.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.3m (1.9% of expenses). Other salaries and wages came to $43.3m. At year end it held assets of $48.5m against liabilities of $23.7m, net assets of $24.8m. It reported 1,228 employees.