Lifecare Inc

Analysis

Lifecare Inc is a registered charity in United States, based in Kalamazoo, MI. It received its IRS tax-exemption ruling in September 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lifecare Inc reported income of $25.8m and spending of $26.8m, spending 104% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $22.1m to $25.8m (+17%), an average of +4.0% a year. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifecare Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include Circle the City ($25.8m), Watts Labor Community Action Committee ($25.8m) and Village of Germatown Inc ($25.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.8% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $541k (2.0% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $61.2m against liabilities of $59.4m, net assets of $1.8m. It reported 462 employees.