Lifewire

Analysis

Lifewire is a registered charity in United States, based in Bellevue, WA. It received its IRS tax-exemption ruling in July 1983, 43 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, Lifewire reported income of $8.0m and spending of $6.1m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $8.0m (+67%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lifewire sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within WA. Charities of a similar size with the same main cause include New Moms Inc ($8.0m), Change Inc ($8.1m) and The Episcopal Church Home Inc ($8.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $194k (3.2% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $20.2m against liabilities of $9.4m, net assets of $10.7m. It reported 44 employees.