Life Steps Foundation Inc

Analysis

Life Steps Foundation Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 1985, 41 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, Life Steps Foundation Inc reported income of $12.1m and spending of $10.3m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $12.1m (+143%), an average of +25% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life Steps Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include The Night Ministry ($12.1m), SDSN Association Inc ($12.1m) and Bernard Osher Marin Jewish Community Center 07-01-95 ($12.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $128k (1.2% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $18.1m against liabilities of $2.4m, net assets of $15.6m. It reported 255 employees.