Lifemark Inc

Analysis

Lifemark Inc is a registered charity in United States, based in Salisbury, MD. It received its IRS tax-exemption ruling in June 2015, 11 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, Lifemark Inc reported income of $1.1m and spending of $1.0m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $389k to $1.1m (+191%), an average of +31% a year. The sharpest change came in the year to December 2023, when income rose by 105%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lifemark Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MD. Charities of a similar size with the same main cause include Neighborhood Design Center ($1.1m), Imadi Inc ($1.1m) and Generating Income for Tomorrow ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Other salaries and wages came to $670k. At year end it held assets of $896k against liabilities of $868k, net assets of $29k. It reported 16 employees.