Life Care Ponte Vedra Inc

Analysis

Life Care Ponte Vedra Inc is a registered charity in United States, based in Ponte Vedra Beach, FL. It received its IRS tax-exemption ruling in November 1986, 40 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 December 2023, Life Care Ponte Vedra Inc reported income of $47.2m and spending of $42.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $23.9m to $47.2m (+97%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life Care Ponte Vedra Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Easterseals Blake Foundation ($47.1m), Food Bank of Iowa ($47.2m) and Marcus Jewish Community Center of Atlanta Inc ($46.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.1% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $242k (0.6% of expenses). Other salaries and wages came to $11.3m. At year end it held assets of $256.5m against liabilities of $288.1m, net assets of -$31.6m. It reported 541 employees.