Life Concepts Inc

Analysis

Life Concepts Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in September 1981, 45 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 June 2023, Life Concepts Inc reported income of $33.4m and spending of $30.0m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.6m to $33.4m (+5.7%), an average of +1.4% a year. 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, Life Concepts Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Peconic Landing at Southold Inc ($33.4m), Adelbrook Inc ($33.4m) and Emergency Food Network of Tacoma and Pierce County ($33.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $944k (3.1% of expenses). Other salaries and wages came to $17.1m. At year end it held assets of $32.5m against liabilities of $8.9m, net assets of $23.6m. It reported 706 employees.