Lyrics for Life Foundation Inc

Analysis

Lyrics for Life Foundation Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Lyrics for Life Foundation Inc reported income of $361k and spending of $445k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $273k to $361k (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2022, when income rose by 592%. Over the whole period it spent 100% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lyrics for Life Foundation Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within KY. Charities of a similar size with the same main cause include Cupertino Rotary Endowment Foundation ($361k), Klein Isd Education Foundation ($361k) and University of Santo Tomas Medical Alumni Association of America ($361k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.1% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.