Lifenet Foundation
EIN: 542015370 · Virginia Bch, VA · NTEE: P99
| Metric | Value |
|---|---|
| Total Revenue | $738K |
| Total Expenses | $103K |
| Net Assets | $2.0M |
Is Lifenet Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Lifenet Foundation
Lifenet Foundation (EIN: 542015370) is a nonprofit organization based in Virginia Bch, VA, classified under NTEE code P99. The organization reported total revenue of $738K and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lifenet Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lifenet Foundation is a small nonprofit that has been operating for 25 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $200K |
| Total Expenses | $103K |
| Surplus / Deficit | +$97K |
| Total Assets | $2.0M |
| Total Liabilities | $9K |
| Net Assets | $2.0M |
| Operating Margin | 48.4% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 234.9 months |
Financial Health Grade: A
In 2023, Lifenet Foundation reported a surplus of $97K with revenue exceeding expenses, holds 234.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Lifenet Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -31.8% | -24.3% | +4.9% |
| 2022 | +64.7% | +12.9% | +9.0% |
| 2021 | +63.3% | +33.7% | +0.1% |
| 2020 | -64.2% | -57.5% | -10.1% |
| 2019 | +96.1% | +108.8% | +22.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Lifenet Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lifenet Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $97K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Frequently Asked Questions about Lifenet Foundation
Is Lifenet Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lifenet Foundation (EIN: 542015370) insufficient data. 0 red flags identified, 0 strengths noted.
How does Lifenet Foundation spend its money?
Detailed spending breakdown data is not yet available for Lifenet Foundation. Check back for updated IRS 990 analysis.
Are donations to Lifenet Foundation tax-deductible?
Lifenet Foundation is registered as a tax-exempt nonprofit (EIN: 542015370). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Lifenet Foundation located?
Lifenet Foundation is headquartered in Virginia Bch, Virginia and files with the IRS under EIN 542015370. It is classified under NTEE code P99.
How many years of IRS 990 filings does Lifenet Foundation have?
Lifenet Foundation has 14 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 $738K in total revenue.
Filing History
IRS 990 filing history for Lifenet Foundation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Lifenet Foundation's revenue has grown by 62.5%, moving from $123K to $200K. Total assets increased by 306.9% over the same period, from $496K to $2.0M. Total functional expenses rose by 824.9%, from $11K to $103K. In its most recent filing year (2023), Lifenet Foundation reported a surplus of $97K, with revenue exceeding expenses. The organization holds $9K in liabilities against $2.0M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $200K | $103K | $2.0M | $9K | — | — |
| 2022 | $293K | $136K | $1.9M | $11K | — | View 990 |
| 2021 | $178K | $121K | $1.8M | $10K | — | View 990 |
| 2020 | $109K | $90K | $1.8M | $66K | — | View 990 |
| 2019 | $304K | $212K | $2.0M | $282K | — | View 990 |
| 2018 | $155K | $102K | $1.6M | $18K | — | View 990 |
| 2017 | $197K | $120K | $1.9M | $364K | — | View 990 |
| 2016 | $91K | $24K | $1.0M | $66K | — | View 990 |
| 2015 | $109K | $3K | $900K | $7K | — | View 990 |
| 2014 | $182K | $47K | $789K | $2K | — | View 990 |
| 2013 | $115K | $117K | $660K | $9K | — | View 990 |
| 2012 | $153K | $61K | $796K | $144K | — | View 990 |
| 2011 | $143K | $79K | $561K | $517 | — | View 990 |
| 2010 | $123K | $11K | $496K | $9 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $200K, expenses of $103K, and assets of $2.0M (revenue -31.8% year-over-year).
- 2022: Revenue of $293K, expenses of $136K, and assets of $1.9M (revenue +64.7% year-over-year).
- 2021: Revenue of $178K, expenses of $121K, and assets of $1.8M (revenue +63.3% year-over-year).
- 2020: Revenue of $109K, expenses of $90K, and assets of $1.8M (revenue -64.2% year-over-year).
- 2019: Revenue of $304K, expenses of $212K, and assets of $2.0M (revenue +96.1% year-over-year).
- 2018: Revenue of $155K, expenses of $102K, and assets of $1.6M (revenue -21.1% year-over-year).
- 2017: Revenue of $197K, expenses of $120K, and assets of $1.9M (revenue +116.7% year-over-year).
- 2016: Revenue of $91K, expenses of $24K, and assets of $1.0M (revenue -17.0% year-over-year).
- 2015: Revenue of $109K, expenses of $3K, and assets of $900K (revenue -40.0% year-over-year).
- 2014: Revenue of $182K, expenses of $47K, and assets of $789K (revenue +58.4% year-over-year).
- 2013: Revenue of $115K, expenses of $117K, and assets of $660K (revenue -24.8% year-over-year).
- 2012: Revenue of $153K, expenses of $61K, and assets of $796K (revenue +7.3% year-over-year).
- 2011: Revenue of $143K, expenses of $79K, and assets of $561K (revenue +15.9% year-over-year).
- 2010: Revenue of $123K, expenses of $11K, and assets of $496K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lifenet Foundation:
Data Sources and Methodology
This transparency report for Lifenet 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.