Lifetime Resources Inc

Analysis

Lifetime Resources Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in August 1987, 39 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lifetime Resources Inc reported income of $2.7m and spending of $2.7m, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.1m to $2.7m (+31%), an average of +5.6% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifetime Resources 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 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Loveland Center Inc ($2.7m), Open Door Community House Inc ($2.7m) and Frances a Allen School for Exceptional Children Inc ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $85k (3.1% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $1.4m against liabilities of $171k, net assets of $1.2m. It reported 36 employees.