Lifeboat Services

Analysis

Lifeboat Services is a registered charity in United States, based in Astoria, OR. It received its IRS tax-exemption ruling in January 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Lifeboat Services reported income of $453k and spending of $496k, spending 110% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $279k to $453k (+62%), an average of +27% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifeboat Services sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within OR. Charities of a similar size with the same main cause include Tzidkas Ohr Yeshaye Inc ($453k), Community Development Support Servi Ces Foundation ($453k) and Lasting Life Ministries Inc ($453k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $211k (43% of expenses). At year end it held assets of $174k against liabilities of $11k, net assets of $163k. It reported 15 employees.