Lifeboat Alliance Ltd

Analysis

Lifeboat Alliance Ltd is a registered charity in United States, based in Mount Vernon, IL. It received its IRS tax-exemption ruling in November 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, Lifeboat Alliance Ltd reported income of $301k and spending of $318k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $149k to $301k (+102%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 70%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lifeboat Alliance Ltd sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within IL. Charities of a similar size with the same main cause include Arlington Bridge Builders ($301k), Steps 4 Life Community Services ($301k) and Academy Square Apartments Housing Development Fund Company Inc ($300k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $71k (22% of expenses). Other salaries and wages came to $36k. At year end it held assets of $1.3m against liabilities of $8,962, net assets of $1.2m. It reported 4 employees.