Lifenet Foundation

Analysis

Lifenet Foundation is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in August 2001, 25 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, Lifenet Foundation reported income of $200k and spending of $103k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $304k to $200k (-34%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 65%. Over the whole period it spent 61% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifenet Foundation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 53rd percentile within VA. Charities of a similar size with the same main cause include St Josephs House Ltd ($200k), Giving Tree Foundation ($200k) and Alameda Homeless Network ($200k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. At year end it held assets of $2.0m against liabilities of $9,003, net assets of $2.0m.