Life Changing Foundation Corporation

Analysis

Life Changing Foundation Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2011, 15 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Life Changing Foundation Corporation reported income of $106k and spending of $117k, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $119k to $106k (-11%), an average of -11% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Life Changing Foundation Corporation sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 38th percentile within TN. Charities of a similar size with the same main cause include 300 Club of Atlanta Inc ($106k), Argentine Betterment Corporation ($106k) and Modesto Sunrise Rotary Club Foundation ($106k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. At year end it held assets of $23k against liabilities of $0, net assets of $23k.