Lifeprep Projects Inc

Analysis

Lifeprep Projects Inc is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lifeprep Projects Inc reported income of $431k and spending of $330k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $206k to $431k (+110%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 60%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lifeprep Projects Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within NC. Charities of a similar size with the same main cause include Italian American Club Foundation Inc ($431k), PTA of Aea Inc ($431k) and Johnson County Library Foundation ($431k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $20k (6.0% of expenses). Other salaries and wages came to $132k. At year end it held assets of $159k against liabilities of $12k, net assets of $147k. It reported 29 employees.