L I F E Skills Foundation
L I F E Skills Foundation experiences recent operating deficits despite significant asset growth.
EIN: 203676000 · Durham, NC · NTEE: O53 · Updated: 2026-03-28
Is L I F E Skills Foundation 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 Skills Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About L I F E Skills Foundation
L I F E Skills Foundation (EIN: 203676000) is a nonprofit organization based in Durham, NC, classified under NTEE code O53. The organization reported total revenue of $337K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of L I F E Skills Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
L I F E Skills Foundation is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $905K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-188,850 |
| Total Assets | $1.7M |
| Total Liabilities | $914K |
| Net Assets | $739K |
| Operating Margin | -20.9% |
| Debt-to-Asset Ratio | 55.3% |
| Months of Reserves | 18.1 months |
Financial Health Grade: C
In 2023, L I F E Skills Foundation reported a deficit of $189K with expenses exceeding revenue, holds 18.1 months of operating reserves (strong position), has a debt-to-asset ratio of 55.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), L I F E Skills Foundation's revenue has grown at a compound annual growth rate (CAGR) of 27.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +63.3% | +19.3% | -12.1% |
| 2022 | -58.3% | +19.5% | +17.1% |
| 2021 | +78.7% | +15.5% | +39.2% |
| 2020 | +17.5% | -11.3% | -2.2% |
| 2019 | -19.3% | +16.8% | -10.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Skills Foundation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, L I F E Skills Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $189K, with expenses exceeding revenue.
- Debt-to-asset ratio: 55.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated or are compensated through non-officer categories, which is a positive indicator for an organization of its size with assets exceeding $1.5 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 Skills Foundation's IRS 990 filings:
- Expenses exceeded revenue in 2023 ($1,093,707 vs. $904,857)
- Expenses significantly exceeded revenue in 2022 ($916,477 vs. $554,116)
- Increasing liabilities in 2023 ($913,849) compared to 2021 ($314,994)
Strengths
The following positive indicators were identified for L I F E Skills Foundation:
- Consistent 0% officer compensation reported across all filings, indicating strong transparency or volunteer leadership.
- Significant growth in assets over the past decade, from $349,495 in 2014 to $1,653,114 in 2023.
- Demonstrated ability to generate substantial revenue, with a peak of $1,328,688 in 2021.
Frequently Asked Questions about L I F E Skills Foundation
Is L I F E Skills Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, L I F E Skills Foundation (EIN: 203676000) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does L I F E Skills Foundation spend its money?
L I F E Skills Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to L I F E Skills Foundation tax-deductible?
L I F E Skills Foundation is registered as a tax-exempt nonprofit (EIN: 203676000). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is L I F E Skills Foundation a good charity?
L I F E Skills Foundation shows strengths in asset growth and transparency regarding executive compensation (0% reported). However, recent years (2022 and 2023) show expenses exceeding revenue, which could be a concern for long-term sustainability if not addressed. A deeper look into the specific program activities and their impact would be beneficial.
Why are expenses exceeding revenue in recent years?
In 2023, expenses were $1,093,707 while revenue was $904,857. Similarly, in 2022, expenses were $916,477 against revenue of $554,116. This trend suggests the organization may be drawing on reserves or prior year surpluses to fund operations, or it could indicate strategic investments that are expected to yield future returns. Further detail on the nature of these expenses would be needed for a complete understanding.
How has the organization's financial stability changed over time?
The organization has seen substantial asset growth, from $349,495 in 2014 to $1,653,114 in 2023, indicating improved financial stability in terms of reserves. However, the recent operating deficits in 2022 and 2023 suggest a potential shift in operational financial health, moving from periods of surplus (e.g., 2021 revenue of $1,328,688 vs. expenses of $767,178) to deficit.
Filing History
IRS 990 filing history for L I F E Skills Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), L I F E Skills Foundation's revenue has grown by 1771.6%, moving from $48K to $905K. Total assets increased by 1090.4% over the same period, from $139K to $1.7M. Total functional expenses rose by 1762.6%, from $59K to $1.1M. In its most recent filing year (2023), L I F E Skills Foundation reported a deficit of $189K, with expenses exceeding revenue. The organization holds $914K in liabilities against $1.7M in assets (debt-to-asset ratio: 55.3%), resulting in net assets of $739K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $905K | $1.1M | $1.7M | $914K | — | View 990 |
| 2022 | $554K | $916K | $1.9M | $953K | — | View 990 |
| 2021 | $1.3M | $767K | $1.6M | $315K | — | View 990 |
| 2020 | $743K | $664K | $1.2M | $424K | — | View 990 |
| 2019 | $633K | $749K | $1.2M | $530K | — | View 990 |
| 2018 | $784K | $641K | $1.3M | $551K | — | View 990 |
| 2017 | $636K | $479K | $1.1M | $468K | — | View 990 |
| 2016 | $515K | $429K | $752K | $288K | — | View 990 |
| 2015 | $339K | $301K | $765K | $402K | — | View 990 |
| 2014 | $398K | $131K | $349K | $35K | — | View 990 |
| 2013 | $57K | $71K | $85K | $38K | — | View 990 |
| 2012 | $48K | $35K | $145K | $84K | — | View 990 |
| 2011 | $48K | $59K | $139K | $90K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $905K, expenses of $1.1M, and assets of $1.7M (revenue +63.3% year-over-year).
- 2022: Revenue of $554K, expenses of $916K, and assets of $1.9M (revenue -58.3% year-over-year).
- 2021: Revenue of $1.3M, expenses of $767K, and assets of $1.6M (revenue +78.7% year-over-year).
- 2020: Revenue of $743K, expenses of $664K, and assets of $1.2M (revenue +17.5% year-over-year).
- 2019: Revenue of $633K, expenses of $749K, and assets of $1.2M (revenue -19.3% year-over-year).
- 2018: Revenue of $784K, expenses of $641K, and assets of $1.3M (revenue +23.2% year-over-year).
- 2017: Revenue of $636K, expenses of $479K, and assets of $1.1M (revenue +23.5% year-over-year).
- 2016: Revenue of $515K, expenses of $429K, and assets of $752K (revenue +52.1% year-over-year).
- 2015: Revenue of $339K, expenses of $301K, and assets of $765K (revenue -15.0% year-over-year).
- 2014: Revenue of $398K, expenses of $131K, and assets of $349K (revenue +602.3% year-over-year).
- 2013: Revenue of $57K, expenses of $71K, and assets of $85K (revenue +19.4% year-over-year).
- 2012: Revenue of $48K, expenses of $35K, and assets of $145K (revenue -1.7% year-over-year).
- 2011: Revenue of $48K, expenses of $59K, and assets of $139K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for L I F E Skills Foundation:
Data Sources and Methodology
This transparency report for L I F E Skills Foundation 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.