Life Chances Foundation
Life Chances Foundation consistently operates at a significant deficit, drawing down substantial assets to cover expenses.
EIN: 201303034 · Sandy, UT · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $32K |
| Total Expenses | $160K |
| Program Spending | 50% |
| CEO/Top Officer Pay | $100,000. |
| Net Assets | $2.9M |
| Transparency Score | 35/100 |
Is Life Chances Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Life Chances Foundation directs 50% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Life Chances Foundation
Life Chances Foundation (EIN: 201303034) is a nonprofit organization based in Sandy, UT, classified under NTEE code T20. The organization reported total revenue of $32K and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Life Chances Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Life Chances Foundation is a micro nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -8.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $34K |
| Total Expenses | $160K |
| Surplus / Deficit | $-126,236 |
| Total Assets | $2.9M |
| Net Assets | $2.9M |
| Operating Margin | -373.9% |
| Months of Reserves | 219.9 months |
Financial Health Grade: B
In 2023, Life Chances Foundation reported a deficit of $126K with expenses exceeding revenue, holds 219.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Life Chances Foundation's revenue has declined at a compound annual growth rate (CAGR) of -8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.0% | -16.0% | -4.1% |
| 2022 | -4.6% | +73.2% | -4.9% |
| 2021 | -23.3% | +-0.0% | -2.3% |
| 2020 | -31.8% | -50.1% | -1.9% |
| 2019 | +31.7% | +32.4% | -4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Life Chances Foundation with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 40%
- programs: 50%
- fundraising: 10%
According to IRS 990 filings, Life Chances Foundation allocates its expenses as follows: admin: 40%, programs: 50%, fundraising: 10%. Approximately 50% 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 $126K, with expenses exceeding revenue.
Executive Compensation Analysis
Officer compensation has been reported as 0% across all available filings, suggesting that executive leadership is either unpaid or compensated through mechanisms not categorized as officer compensation on the 990, which is unusual for an organization with annual expenses exceeding $100,000.
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 Life Chances Foundation's IRS 990 filings:
- Consistent and significant operational deficits, with expenses far exceeding revenue for multiple years (e.g., 2023 expenses $160,000 vs. revenue $33,764).
- Steady decline in total assets over time, from $3,661,991 in 2014 to $2,931,339 in 2023, indicating reliance on reserves to fund operations.
- Unusually high expense-to-revenue ratio, suggesting an unsustainable financial model.
- 0% reported officer compensation across all filings, which is atypical for an organization with significant expenses and assets, potentially obscuring executive benefits.
Strengths
The following positive indicators were identified for Life Chances Foundation:
- Maintains substantial assets ($2,931,339 in 2023) which could provide a buffer or funding source if managed effectively.
- Consistent filing of IRS 990 forms, demonstrating a commitment to regulatory transparency.
- Low liabilities, with $0 reported in most recent filings, indicating a lack of debt.
Frequently Asked Questions about Life Chances Foundation
Is Life Chances Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Life Chances Foundation (EIN: 201303034) significant concerns. Mission Score: 35/100. 4 red flags identified, 3 strengths noted.
How does Life Chances Foundation spend its money?
Life Chances Foundation directs 50% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Life Chances Foundation tax-deductible?
Life Chances Foundation is registered as a tax-exempt nonprofit (EIN: 201303034). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Life Chances Foundation CEO make?
Life Chances Foundation's highest-compensated officer earns $100,000. annually. The organization reported $32K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Life Chances Foundation's spending goes to programs?
Life Chances Foundation directs 50% to programs, 10% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Life Chances Foundation compare to similar nonprofits?
With a transparency score of 35/100 (Poor), Life Chances Foundation is below average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Life Chances Foundation located?
Life Chances Foundation is headquartered in Sandy, Utah and files with the IRS under EIN 201303034. It is classified under NTEE code T20.
How many years of IRS 990 filings does Life Chances Foundation have?
Life Chances Foundation has 13 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 $32K in total revenue.
Is Life Chances Foundation financially sustainable?
Based on the consistent and significant operational deficits (e.g., $33,764 revenue vs. $160,000 expenses in 2023), the organization is not financially sustainable in its current operational model, relying on asset depletion to cover costs.
What is the purpose of the organization's substantial assets?
Given the NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations), the substantial assets of $2,931,339 in 2023 likely represent an endowment or foundation principal intended for grantmaking or investment, rather than direct program delivery.
Why are expenses consistently much higher than revenue?
Expenses consistently exceeding revenue by a large margin (e.g., $190,483 expenses vs. $34,112 revenue in 2022) indicates that the organization is either spending down its principal assets or has other undisclosed income sources to cover its operational costs.
What is the breakdown of the organization's expenses?
Without detailed expense breakdowns from the 990, it's difficult to ascertain exact program, administrative, and fundraising costs. However, given the NTEE code and the large asset base, a significant portion of expenses might be related to asset management or administrative overhead for grantmaking activities, rather than direct program services.
Filing History
IRS 990 filing history for Life Chances Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Life Chances Foundation's revenue has declined by 63.5%, moving from $92K to $34K. Total assets decreased by 20.3% over the same period, from $3.7M to $2.9M. Total functional expenses rose by 46.4%, from $109K to $160K. In its most recent filing year (2023), Life Chances Foundation reported a deficit of $126K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $34K | $160K | $2.9M | $0 | — | — |
| 2022 | $34K | $190K | $3.1M | $0 | — | View 990 |
| 2021 | $36K | $110K | $3.2M | $0 | — | — |
| 2020 | $47K | $110K | $3.3M | $0 | — | View 990 |
| 2019 | $68K | $220K | $3.4M | $0 | — | View 990 |
| 2018 | $52K | $166K | $3.5M | $0 | — | View 990 |
| 2017 | $55K | $126K | $3.6M | $8K | — | View 990 |
| 2016 | $85K | $79K | $3.6M | $0 | — | View 990 |
| 2015 | $85K | $83K | $3.6M | $0 | — | View 990 |
| 2014 | $37K | $73K | $3.7M | $0 | — | View 990 |
| 2013 | $91K | $100K | $3.7M | $0 | — | View 990 |
| 2012 | $89K | $62K | $3.7M | $0 | — | View 990 |
| 2011 | $92K | $109K | $3.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $34K, expenses of $160K, and assets of $2.9M (revenue -1.0% year-over-year).
- 2022: Revenue of $34K, expenses of $190K, and assets of $3.1M (revenue -4.6% year-over-year).
- 2021: Revenue of $36K, expenses of $110K, and assets of $3.2M (revenue -23.3% year-over-year).
- 2020: Revenue of $47K, expenses of $110K, and assets of $3.3M (revenue -31.8% year-over-year).
- 2019: Revenue of $68K, expenses of $220K, and assets of $3.4M (revenue +31.7% year-over-year).
- 2018: Revenue of $52K, expenses of $166K, and assets of $3.5M (revenue -5.3% year-over-year).
- 2017: Revenue of $55K, expenses of $126K, and assets of $3.6M (revenue -35.2% year-over-year).
- 2016: Revenue of $85K, expenses of $79K, and assets of $3.6M (revenue -0.6% year-over-year).
- 2015: Revenue of $85K, expenses of $83K, and assets of $3.6M (revenue +129.1% year-over-year).
- 2014: Revenue of $37K, expenses of $73K, and assets of $3.7M (revenue -59.3% year-over-year).
- 2013: Revenue of $91K, expenses of $100K, and assets of $3.7M (revenue +2.5% year-over-year).
- 2012: Revenue of $89K, expenses of $62K, and assets of $3.7M (revenue -3.7% year-over-year).
- 2011: Revenue of $92K, expenses of $109K, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Life Chances Foundation:
Data Sources and Methodology
This transparency report for Life Chances 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.