Life Science Cares Inc

Analysis

Life Science Cares Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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 Science Cares Inc reported income of $10.0m and spending of $9.9m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $10.0m (+569%), an average of +61% a year. The sharpest change came in the year to December 2020, when income rose by 278%. Over the whole period it spent 77% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Life Science Cares Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Papanicolaou Corps for Cancer Research Inc ($10.0m), Lake Orion Nursing Center Corporation ($10.0m) and Latino Commission on AIDS Inc ($10.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $291k (3.0% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $11.1m against liabilities of $2.4m, net assets of $8.7m. It reported 30 employees.