Lifebox Foundation Inc

Analysis

Lifebox Foundation Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in September 2013, 13 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 March 2024, Lifebox Foundation Inc reported income of $3.7m and spending of $3.2m, spending 87% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $926k to $3.7m (+304%), an average of +42% a year. The sharpest change came in the year to March 2021, when income rose by 174%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lifebox Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Lyngblomsten Foundation ($3.7m), Passavant Hospital Foundation ($3.7m) and The Skatepark Project ($3.7m).

On its Form 990 for the period ending March 2024, 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 $230k (7.1% of expenses). Other salaries and wages came to $56k. At year end it held assets of $2.3m against liabilities of $531k, net assets of $1.8m.