Life Network Inc

Analysis

Life Network Inc is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in September 1986, 40 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 Network Inc reported income of $551k and spending of $441k, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $525k to $551k (+4.9%), an average of +1.2% a year. The sharpest change came in the year to December 2020, when income rose by 50%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Life Network Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Wilkes Rescue Squad Inc ($551k), American Family Living ($551k) and Honor Flight Austin ($551k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $90k (20% of expenses). Other salaries and wages came to $120k. At year end it held assets of $1.8m against liabilities of $4,327, net assets of $1.8m. It reported 7 employees.