Life House Corporation

Analysis

Life House Corporation is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Life House Corporation reported income of $177k and spending of $208k, spending 117% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $62k to $177k (+187%), an average of +188% a year. The sharpest change came in the year to December 2023, when income rose by 187%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Life House Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 44th percentile within ME. Charities of a similar size with the same main cause include Abilities at College Pines Inc ($177k), Brookside Apartments Inc ($177k) and Woodside Village IV Inc ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $666k against liabilities of $362k, net assets of $304k.