Lifes Second Chance Foundation
Lifes Second Chance Foundation reports minimal financial activity with $1 in revenue and assets in its latest filing.
EIN: 202799514 · Summit, UT · NTEE: G12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1 |
| Program Spending | 100% |
| Net Assets | $0 |
| Transparency Score | 40/100 |
Is Lifes Second Chance Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lifes Second Chance Foundation directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lifes Second Chance Foundation
Lifes Second Chance Foundation (EIN: 202799514) is a nonprofit organization based in Summit, UT, classified under NTEE code G12. The organization reported total revenue of $1 and total assets of $1 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lifes Second Chance Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lifes Second Chance Foundation is a micro nonprofit that has been operating for 20 years, with 5 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of -72.3%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $1 |
| Total Expenses | $0 |
| Surplus / Deficit | +$1 |
| Total Assets | $1 |
| Total Liabilities | $1 |
| Net Assets | $0 |
| Operating Margin | 100.0% |
| Debt-to-Asset Ratio | 100.0% |
Financial Health Grade: B
In 2019, Lifes Second Chance Foundation reported a surplus of $1 with revenue exceeding expenses, has a debt-to-asset ratio of 100.0% (high leverage).
Financial Trends
Over 5 years of filings (2011–2019), Lifes Second Chance Foundation's revenue has declined at a compound annual growth rate (CAGR) of -72.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | -99.9% | -100.0% | -100.0% |
| 2015 | -13.3% | -17.5% | -16.6% |
| 2014 | -93.1% | -2.8% | -26.7% |
| 2013 | -15.0% | -83.6% | +1397.7% |
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 Lifes Second Chance Foundation with a Mission Score of 40 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Lifes Second Chance Foundation allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 100.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all filings, indicating that no officers or directors received compensation, which is appropriate for an organization with such minimal financial activity.
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 Lifes Second Chance Foundation's IRS 990 filings:
- Extremely low reported revenue and assets ($1) in the latest filing, suggesting inactivity or dormancy.
- Significant liabilities in earlier periods (e.g., $149,414 in 2015) far exceeding assets and revenue, indicating past financial instability.
Strengths
The following positive indicators were identified for Lifes Second Chance Foundation:
- Consistent reporting of 0% officer compensation across all filings, indicating no executive pay.
Frequently Asked Questions about Lifes Second Chance Foundation
Is Lifes Second Chance Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lifes Second Chance Foundation (EIN: 202799514) significant concerns. Mission Score: 40/100. 2 red flags identified, 1 strength noted.
How does Lifes Second Chance Foundation spend its money?
Lifes Second Chance Foundation directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lifes Second Chance Foundation tax-deductible?
Lifes Second Chance Foundation is registered as a tax-exempt nonprofit (EIN: 202799514). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Lifes Second Chance Foundation compare to similar nonprofits?
With a transparency score of 40/100 (Fair), Lifes Second Chance Foundation is near average for NTEE category G12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lifes Second Chance Foundation located?
Lifes Second Chance Foundation is headquartered in Summit, Utah and files with the IRS under EIN 202799514. It is classified under NTEE code G12.
How many years of IRS 990 filings does Lifes Second Chance Foundation have?
Lifes Second Chance Foundation has 5 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 $1 in total revenue.
Is Lifes Second Chance Foundation still actively operating given its $1 revenue and assets?
The latest financial data (201912) showing $1 in revenue and assets strongly suggests the organization is either inactive or operating on an extremely limited basis, making its current operational status unclear.
What caused the significant liabilities reported in earlier periods, such as $149,414 in 2015?
The filings do not provide specific details on the nature of these liabilities, but they were substantial relative to the organization's assets and revenue at the time, indicating potential financial distress or significant outstanding obligations.
How does the organization manage to operate with such minimal reported revenue and assets?
With only $1 in reported revenue and assets in its latest filing, it's highly improbable the organization is conducting any significant programs or operations. It may be in a dormant state or in the process of dissolution.
Filing History
IRS 990 filing history for Lifes Second Chance Foundation showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2019), Lifes Second Chance Foundation's revenue has declined by 100%, moving from $29K to $1. Total assets decreased by 99.9% over the same period, from $2K to $1. Total functional expenses fell by 100%, from $48K to $0. The organization holds $1 in liabilities against $1 in assets (debt-to-asset ratio: 100.0%), resulting in net assets of $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $1 | $0 | $1 | $1 | — | View 990 |
| 2015 | $1K | $6K | $14K | $149K | — | View 990 |
| 2014 | $2K | $8K | $16K | $147K | — | View 990 |
| 2013 | $24K | $8K | $22K | $147K | — | View 990 |
| 2011 | $29K | $48K | $2K | $128K | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $1, expenses of $0, and assets of $1 (revenue -99.9% year-over-year).
- 2015: Revenue of $1K, expenses of $6K, and assets of $14K (revenue -13.3% year-over-year).
- 2014: Revenue of $2K, expenses of $8K, and assets of $16K (revenue -93.1% year-over-year).
- 2013: Revenue of $24K, expenses of $8K, and assets of $22K (revenue -15.0% year-over-year).
- 2011: Revenue of $29K, expenses of $48K, and assets of $2K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lifes Second Chance Foundation:
Data Sources and Methodology
This transparency report for Lifes Second Chance 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.