Life Remodeled-A Nonprofit Corporation

Analysis

Life Remodeled-A Nonprofit Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 2011, 15 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, Life Remodeled-A Nonprofit Corporation reported income of $5.9m and spending of $2.8m, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $5.9m (+129%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 107%. Over the whole period it spent 60% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Life Remodeled-A Nonprofit Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Piedmont Housing Alliance Incorporated ($5.9m), Geer Woods Inc ($5.9m) and House of David Preservation Inc ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $455k (16% of expenses). Other salaries and wages came to $696k. It paid $18k in professional fundraising fees. At year end it held assets of $9.5m against liabilities of $265k, net assets of $9.2m. It reported 17 employees.