Life Raft Group Inc

Analysis

Life Raft Group Inc is a registered charity in United States, based in Wayne, NJ. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover diseases, disorders and medical disciplines, 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 Raft Group Inc reported income of $1.9m and spending of $1.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.9m (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 109% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Life Raft Group Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within NJ. Charities of a similar size with the same main cause include Childrens Cancer Fund of Dallas Inc ($1.9m), Tsa-B Regional Advisory Council Brac ($1.9m) and The Familiescn2a Foundation Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $349k (20% of expenses). Other salaries and wages came to $725k. At year end it held assets of $3.2m against liabilities of $284k, net assets of $3.0m. It reported 16 employees.