Veterans Life Center

Analysis

Veterans Life Center is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Veterans Life Center reported income of $2.5m and spending of $2.4m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $462k to $2.5m (+437%), an average of +52% a year. The sharpest change came in the year to December 2020, when income rose by 440%. Over the whole period it spent 84% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Veterans Life Center sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.5m), Lutheran Life Communities Foundation ($2.5m) and Ogden Housing Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $110k (4.7% of expenses). Other salaries and wages came to $543k. It paid $50k in professional fundraising fees. At year end it held assets of $2.1m against liabilities of $61k, net assets of $2.0m. It reported 20 employees.