Life Community Enrichment Inc

Analysis

Life Community Enrichment Inc is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in June 2018, 8 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 private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Life Community Enrichment Inc reported income of $643k and spending of $640k, spending 100% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $415k to $643k (+55%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 35%. 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 Community Enrichment Inc 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 74th percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include The Pedro J Martinez and Brothers Foundation ($642k), Kanfi Gavriel Fund Inc ($644k) and TMG Foundation ($642k).

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 $66k (10% of expenses). Other salaries and wages came to $96. At year end it held assets of $279k against liabilities of $24k, net assets of $255k. It reported 1 employees.