Lifelab Kids Foundation

Analysis

Lifelab Kids Foundation is a registered charity in United States, based in Ferndale, MI. It received its IRS tax-exemption ruling in October 2016, 10 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 (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, Lifelab Kids Foundation reported income of $2.4m and spending of $2.9m, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $648k to $2.4m (+270%), an average of +39% a year. The sharpest change came in the year to December 2020, when income rose by 93%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lifelab Kids Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include Aggarwal & Gupta Family Foundation Inc ($2.4m), Plumbing-Heating-Cooling Contrctrs Natl Assoc Educational Foundation ($2.4m) and Artsfund Foundation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Other salaries and wages came to $2.0m. At year end it held assets of $2.8m against liabilities of $1.9m, net assets of $887k. It reported 66 employees.