Lifesong Inc

Analysis

Lifesong Inc is a registered charity in United States, based in Gridley, IL. It received its IRS tax-exemption ruling in July 2022, 4 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 June 2023, Lifesong Inc reported income of $3.5m and spending of $3.5m, spending 99% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $1.8m to $3.5m (+100%), an average of +100% a year. The sharpest change came in the year to June 2023, when income rose by 100%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifesong Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Fidelco Guide Dog Foundation Inc ($3.5m), Hospice of Amador & Calaveras ($3.5m) and Edmonds Food Bank ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $428k (12% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $307k against liabilities of $89k, net assets of $218k. It reported 46 employees.