Lifesworc Foundation

Analysis

Lifesworc Foundation is a registered charity in United States, based in Garden City, NY. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lifesworc Foundation reported income of $258k and spending of $207k, spending 80% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $846k to $258k (-70%), an average of -70% a year. The sharpest change came in the year to June 2023, when income dropped by 70%. Over the whole period it spent 47% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lifesworc Foundation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include McGrorty Foundation Inc ($258k), Moosabec Ambulance Service ($258k) and National Leiomyosarcoma Foundation ($258k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 176% of the total. At year end it held assets of $719k against liabilities of $136k, net assets of $582k.