Life Connections of the Carolinas Inc

Analysis

Life Connections of the Carolinas Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 2019, 7 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 June 2024, Life Connections of the Carolinas Inc reported income of $917k and spending of $950k, spending 104% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $713k to $917k (+29%), an average of +6.5% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Life Connections of the Carolinas Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Pro Players Foundation Inc ($916k), Webster County Community Hospital Foundation Inc ($918k) and Jewish Community Foundation of New Mexico ($916k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $69k (7.3% of expenses). Other salaries and wages came to $59k. At year end it held assets of $67k against liabilities of $276k, net assets of -$210k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.