Life Quilt Foundation NFP

Analysis

Life Quilt Foundation NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2015, 11 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, Life Quilt Foundation NFP reported income of $53k and spending of $51k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $138k to $53k (-61%), an average of -61% a year. The sharpest change came in the year to December 2023, when income dropped by 61%. Over the whole period it spent 141% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life Quilt Foundation NFP sits at the 19th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 22nd percentile within IL. Charities of a similar size with the same main cause include Bay Cove Orchardfield Residence Inc ($53k), Custer County Community Table ($53k) and Tam Nhi Foundation ($53k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $108k against liabilities of $1,958, net assets of $106k.