Lifespan Resources Inc

Analysis

Lifespan Resources Inc is a registered charity in United States, based in New Albany, IN. It received its IRS tax-exemption ruling in March 1975, 51 years ago. 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 June 2023, Lifespan Resources Inc reported income of $8.2m and spending of $7.4m, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $7.7m to $8.2m (+7.4%), an average of +2.4% a year. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lifespan Resources Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within IN. Charities of a similar size with the same main cause include Ascension Living-Lakeshore at Siena Inc ($8.2m), Berkshire Family Young Mens Christian Association Inc ($8.2m) and Reagan-Udall Foundation for the Food and Drug Administration ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $487k (6.6% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $11.2m against liabilities of $2.3m, net assets of $9.0m. It reported 96 employees.