Lighthouse for Life

Analysis

Lighthouse for Life is a registered charity in United States, based in Irmo, SC. It received its IRS tax-exemption ruling in April 2018, 8 years ago. 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 December 2023, Lighthouse for Life reported income of $778k and spending of $596k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $579k to $778k (+34%), an average of +7.7% a year. The sharpest change came in the year to December 2022, when income rose by 103%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lighthouse for Life sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within SC. Charities of a similar size with the same main cause include Fellowship of Christians in Action Inc ($778k), Greencroft Manor III Inc ($778k) and Ocular Melanoma Foundation ($778k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $115k (19% of expenses). Other salaries and wages came to $201k. At year end it held assets of $1.4m against liabilities of $27k, net assets of $1.4m. It reported 9 employees.