Life Adult Day Academy

Analysis

Life Adult Day Academy is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in July 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, Life Adult Day Academy reported income of $887k and spending of $890k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $674k to $887k (+31%), an average of +7.1% a year. The sharpest change came in the year to December 2023, when income rose by 108%. Over the whole period it spent 125% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Life Adult Day Academy sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IN. Charities of a similar size with the same main cause include Consumer Choice Education ($887k), Illinois Leg Latino Caucus Found ($887k) and Discovery Multiple Intelligences Preschool ($886k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Other salaries and wages came to $435k. At year end it held assets of $64k against liabilities of $552k, net assets of -$488k. It reported 27 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.