Generous Life Inc

Analysis

Generous Life Inc is a registered charity in United States, based in Ridgefield, CT. It received its IRS tax-exemption ruling in March 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 December 2021, Generous Life Inc reported income of $820k and spending of $833k, spending 101% of its income. Across the 3 years on record, from December 2019 to December 2021, income fell from $1.0m to $820k (-19%), an average of -9.9% a year. The sharpest change came in the year to December 2020, when income dropped by 22%. Over the whole period it spent 104% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Generous Life Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Keren Yad Veizer Inc ($820k), Community Foundation of Brazoria County Texas ($821k) and Jewish Home Foundation Inc ($820k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $378k (45% of expenses). Other salaries and wages came to $17k. At year end it held assets of $51k against liabilities of $141k, net assets of -$90k. 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.