Life Enrichment Academy Inc

Analysis

Life Enrichment Academy Inc is a registered charity in United States, based in Bloomfld HLS, MI. It received its IRS tax-exemption ruling in February 1984, 42 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 September 2023, Life Enrichment Academy Inc reported income of $7.4m and spending of $6.9m, spending 92% of its income. Across the 6 years on record, from September 2018 to September 2023, income grew from $7.2m to $7.4m (+3.2%), an average of +0.6% a year. The sharpest change came in the year to September 2022, when income rose by 56%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Life Enrichment Academy 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 94th percentile within MI. Charities of a similar size with the same main cause include Connecticut Student Loan Foundtion ($7.4m), Clinch Valley Community Action Inc ($7.4m) and Corporacion Educativa Ramon Barquin ($7.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $525 (0.0% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $5.3m against liabilities of $1.6m, net assets of $3.6m. It reported 226 employees.