L I F E Ministries Inc
L I F E Ministries Inc shows consistent asset growth and no officer compensation, but experienced a deficit in 2023.
EIN: 20387107 · Wolfeboro, NH · NTEE: K31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $478K |
| Total Expenses | $322K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1.6 |
| Net Assets | $1.6M |
| Transparency Score | 90/100 |
Is L I F E Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
L I F E Ministries Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About L I F E Ministries Inc
L I F E Ministries Inc (EIN: 20387107) is a nonprofit organization based in Wolfeboro, NH, classified under NTEE code K31. The organization reported total revenue of $478K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of L I F E Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
L I F E Ministries Inc is a small nonprofit that has been operating for 41 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $262K |
| Total Expenses | $322K |
| Surplus / Deficit | $-60,187 |
| Total Assets | $1.6M |
| Net Assets | $1.6M |
| Operating Margin | -23.0% |
| Months of Reserves | 60.7 months |
Financial Health Grade: B
In 2023, L I F E Ministries Inc reported a deficit of $60K with expenses exceeding revenue, holds 60.7 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2012–2023), L I F E Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -30.4% | +104.2% | -2.0% |
| 2022 | -47.7% | -28.8% | +15.2% |
| 2021 | +158.4% | -6.7% | +52.6% |
| 2020 | -5.6% | +5.2% | +4.0% |
| 2019 | +2.3% | +17.0% | +8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates L I F E Ministries Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, L I F E Ministries Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $60K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for an organization of its size with assets exceeding $1.6 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of L I F E Ministries Inc's IRS 990 filings:
- Expenses exceeded revenue in 2023 ($321,986 vs. $261,799), indicating a deficit for that period.
Strengths
The following positive indicators were identified for L I F E Ministries Inc:
- Consistent asset growth from $521,040 in 2014 to $1,627,451 in 2023.
- Zero officer compensation reported across all 12 filings, indicating high efficiency and dedication of funds to mission.
- Minimal to no liabilities reported in recent years, demonstrating strong financial stability.
- Long history of IRS 990 filings (12 filings), suggesting consistent compliance and transparency.
Frequently Asked Questions about L I F E Ministries Inc
Is L I F E Ministries Inc a legitimate charity?
L I F E Ministries Inc (EIN: 20387107) is a registered tax-exempt nonprofit based in New Hampshire. Our AI analysis gives it a Mission Score of 90/100. It has 12 years of IRS 990 filings on record. Total revenue: $478K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does L I F E Ministries Inc spend its money?
L I F E Ministries Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to L I F E Ministries Inc tax-deductible?
L I F E Ministries Inc is registered as a tax-exempt nonprofit (EIN: 20387107). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the L I F E Ministries Inc CEO make?
L I F E Ministries Inc's highest-compensated officer earns $1.6 annually. The organization reported $478K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of L I F E Ministries Inc's spending goes to programs?
L I F E Ministries Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does L I F E Ministries Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), L I F E Ministries Inc is above average for NTEE category K31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is L I F E Ministries Inc located?
L I F E Ministries Inc is headquartered in Wolfeboro, New Hampshire and files with the IRS under EIN 20387107. It is classified under NTEE code K31.
How many years of IRS 990 filings does L I F E Ministries Inc have?
L I F E Ministries Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $478K in total revenue.
Is L I F E Ministries Inc a good charity?
Based on the provided data, L I F E Ministries Inc appears to be a good charity. It demonstrates strong financial health with growing assets and minimal liabilities, and a clear commitment to its mission by reporting 0% officer compensation across all filings. The organization's consistent program spending focus, implied by the lack of officer compensation, suggests that resources are directed towards its charitable activities.
What caused the significant revenue fluctuation in 2021 and 2023?
The data shows a peak revenue of $719,527 in 2021, followed by a decrease to $376,225 in 2022 and $261,799 in 2023. Without further details from the 990 filings, it's difficult to pinpoint the exact cause, but such fluctuations could be due to large one-time donations, grants, or changes in fundraising strategies or economic conditions affecting donor contributions.
How does the organization cover its expenses when revenue is lower than expenses, as seen in 2023?
In 2023, L I F E Ministries Inc reported revenue of $261,799 and expenses of $321,986, resulting in a deficit. Given its substantial assets of $1,627,451, the organization likely covered this deficit by drawing from its reserves or accumulated unrestricted net assets. This is a sustainable practice for occasional deficits, but consistent deficits would warrant closer scrutiny.
Filing History
IRS 990 filing history for L I F E Ministries Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), L I F E Ministries Inc's revenue has grown by 46.2%, moving from $179K to $262K. Total assets increased by 625.1% over the same period, from $224K to $1.6M. Total functional expenses rose by 161.3%, from $123K to $322K. In its most recent filing year (2023), L I F E Ministries Inc reported a deficit of $60K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $262K | $322K | $1.6M | $0 | — | View 990 |
| 2022 | $376K | $158K | $1.7M | $0 | — | View 990 |
| 2021 | $720K | $222K | $1.4M | $0 | — | View 990 |
| 2020 | $279K | $238K | $945K | $665 | — | View 990 |
| 2019 | $295K | $226K | $908K | $8K | — | View 990 |
| 2018 | $288K | $193K | $841K | $9K | — | View 990 |
| 2017 | $255K | $142K | $752K | $16K | — | View 990 |
| 2016 | $224K | $175K | $641K | $19K | — | View 990 |
| 2015 | $206K | $138K | $589K | $0 | — | View 990 |
| 2014 | $243K | $142K | $521K | $0 | — | View 990 |
| 2013 | $306K | $109K | $421K | $0 | — | View 990 |
| 2012 | $179K | $123K | $224K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $262K, expenses of $322K, and assets of $1.6M (revenue -30.4% year-over-year).
- 2022: Revenue of $376K, expenses of $158K, and assets of $1.7M (revenue -47.7% year-over-year).
- 2021: Revenue of $720K, expenses of $222K, and assets of $1.4M (revenue +158.4% year-over-year).
- 2020: Revenue of $279K, expenses of $238K, and assets of $945K (revenue -5.6% year-over-year).
- 2019: Revenue of $295K, expenses of $226K, and assets of $908K (revenue +2.3% year-over-year).
- 2018: Revenue of $288K, expenses of $193K, and assets of $841K (revenue +12.9% year-over-year).
- 2017: Revenue of $255K, expenses of $142K, and assets of $752K (revenue +13.8% year-over-year).
- 2016: Revenue of $224K, expenses of $175K, and assets of $641K (revenue +8.8% year-over-year).
- 2015: Revenue of $206K, expenses of $138K, and assets of $589K (revenue -15.1% year-over-year).
- 2014: Revenue of $243K, expenses of $142K, and assets of $521K (revenue -20.6% year-over-year).
- 2013: Revenue of $306K, expenses of $109K, and assets of $421K (revenue +70.6% year-over-year).
- 2012: Revenue of $179K, expenses of $123K, and assets of $224K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for L I F E Ministries Inc:
Data Sources and Methodology
This transparency report for L I F E Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.