Life Ring Foundation

Analysis

Life Ring Foundation is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in May 2012, 14 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 (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, Life Ring Foundation reported income of $693k and spending of $608k, spending 88% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $48k to $693k (+1344%), an average of +144% a year. The sharpest change came in the year to December 2023, when income rose by 585%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Life Ring Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within VA. Charities of a similar size with the same main cause include Library Foundation of Kanawha County Inc ($693k), Springs Golf Course ($693k) and Scott County Community Foundation Inc ($692k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 136% of the total. Compensation of current officers, directors and key employees was $38k (6.2% of expenses). At year end it held assets of $308k against liabilities of $0, net assets of $308k. It reported 1 employees.