Lifeworks Services Inc

Analysis

Lifeworks Services Inc is a registered charity in United States, based in Richfield, MN. It received its IRS tax-exemption ruling in December 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 (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, Lifeworks Services Inc reported income of $95.8m and spending of $94.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $74.6m to $95.8m (+28%), an average of +6.4% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifeworks Services Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include MJHS Hospice and Palliative Care Inc ($95.7m), Portable Practical Educational Preparation Inc ($96.1m) and Young Mens Christian Association of Greater Boston Inc ($95.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $508k (0.5% of expenses). Other salaries and wages came to $76.0m. At year end it held assets of $45.5m against liabilities of $10.2m, net assets of $35.3m. It reported 1,987 employees.