Life Advancement Group

Analysis

Life Advancement Group is a registered charity in United States, based in Pontiac, MI. It received its IRS tax-exemption ruling in December 2017, 9 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Life Advancement Group reported income of $909k and spending of $971k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $154k to $909k (+490%), an average of +56% a year. The sharpest change came in the year to December 2023, when income rose by 78%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Life Advancement Group sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include University of Louisiana at Lafayette Alumni Association Inc ($909k), Heartland Sings Inc ($909k) and State University College at Buffalo Child Day Care Dev Facility Inc ($909k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $145k (15% of expenses). Other salaries and wages came to $330k. At year end it held assets of $78k against liabilities of $76k, net assets of $2,441. It reported 12 employees.