Lifenet Inc

Analysis

Lifenet Inc is a registered charity in United States, based in Texarkana, TX. It received its IRS tax-exemption ruling in May 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lifenet Inc reported income of $38.6m and spending of $37.6m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $31.3m to $38.6m (+23%), an average of +5.4% a year. The sharpest change came in the year to September 2021, when income rose by 16%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lifenet 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 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Young Mens Christian Association of Snohomish County ($38.6m), Essential Access Health ($38.6m) and High Watch Recovery Center Inc ($38.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 13% and program service revenue 70% of the total. Other salaries and wages came to $21.4m. At year end it held assets of $22.9m against liabilities of $4.2m, net assets of $18.7m. It reported 601 employees.