Lifestyles of Maryland Foundation Inc

Analysis

Lifestyles of Maryland Foundation Inc is a registered charity in United States, based in LA Plata, MD. It received its IRS tax-exemption ruling in January 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Lifestyles of Maryland Foundation Inc reported income of $5.2m and spending of $3.1m, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $5.2m (+144%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 151%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifestyles of Maryland Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MD. Charities of a similar size with the same main cause include Freedom Adult Foster Care Corp ($5.2m), Southwest Center for the Developmentally Disabled ($5.2m) and Woodlawn Apartments Inc ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $63k (2.0% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.9m against liabilities of $2.3m, net assets of $4.6m. It reported 55 employees.