Lifehikes Foundation Inc

Analysis

Lifehikes Foundation Inc is a registered charity in United States, based in Verona, NJ. It received its IRS tax-exemption ruling in April 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Lifehikes Foundation Inc reported income of $203k and spending of $154k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $15k to $203k (+1245%), an average of +92% a year. The sharpest change came in the year to December 2020, when income rose by 314%. Over the whole period it spent 118% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifehikes Foundation Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 61st percentile within NJ. Charities of a similar size with the same main cause include Open Door Adoption Services ($203k), Inside Out ($203k) and Diaper Bank for Northeast Florida Inc ($203k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $95k. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.