Life Enrichment Center of Cleveland County Inc

Analysis

Life Enrichment Center of Cleveland County Inc is a registered charity in United States, based in Shelby, NC. It received its IRS tax-exemption ruling in June 1982, 44 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, Life Enrichment Center of Cleveland County Inc reported income of $2.9m and spending of $2.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.1m to $2.9m (-7.1%), an average of -1.8% a year. The sharpest change came in the year to December 2020, when income dropped by 27%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life Enrichment Center of Cleveland County Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Northeast Organic Farming Association of New York Inc ($2.9m), Meadowlark Retirement Village ($2.9m) and A Family Affair Bridges Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $125k (4.3% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $11.5m against liabilities of $3.6m, net assets of $7.9m. It reported 46 employees.