Life Recovery Ministries Inc

Analysis

Life Recovery Ministries Inc is a registered charity in United States, based in Riviera Beach, FL. It received its IRS tax-exemption ruling in March 2004, 22 years ago. 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 Recovery Ministries Inc reported income of $87k and spending of $88k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $86k to $87k (+1.0%), an average of +0.2% a year. The sharpest change came in the year to December 2021, when income dropped by 27%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Life Recovery Ministries Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 36th percentile within FL. Charities of a similar size with the same main cause include Syds Book Shack & Boutique Inc ($87k), Clackamas Rotary Foundation Inc ($87k) and Tahquamenon Area Senior Citizens Center ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $40k (45% of expenses). Other salaries and wages came to $6,000. At year end it held assets of $74k against liabilities of $1,206, net assets of $73k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.