L I F E Inc

Analysis

L I F E Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in August 1983, 43 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 June 2023, L I F E Inc reported income of $12.1m and spending of $11.3m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $9.2m to $12.1m (+31%), an average of +9.4% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, L I F E Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Childrens Hope Foster Family Agency ($12.1m), The Carey School ($12.1m) and United Cerebral Palsy of Broward Palm Beach and Mid Coast Counties ($12.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $373k (3.3% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $8.3m against liabilities of $2.6m, net assets of $5.7m. It reported 220 employees.