Convivial Life Inc

Analysis

Convivial Life Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Convivial Life Inc reported income of $13.8m and spending of $25.0m, spending 181% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income grew from $212 to $13.8m (+6524742%), an average of +6524742% a year. The sharpest change came in the year to December 2022, when income rose by 6524742%. Over the whole period it spent 182% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Convivial Life Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Affordable Housing Development Fund Inc ($13.8m), East River Development Alliance Inc ($13.9m) and Building Homes for Heroes Inc ($13.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Other salaries and wages came to $554k. At year end it held assets of $161.1m against liabilities of $169.2m, net assets of -$8.1m.