Lifespan Corporation
Lifespan Corporation: Strong Revenue Growth, but Transparency Lacking
EIN: 222861978 · Providence, RI · NTEE: E020 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $358.6M |
| Total Expenses | $294.8M |
| Program Spending | 85% |
| Net Assets | $48.5M |
| Transparency Score | 75/100 |
Is Lifespan Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lifespan Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lifespan Corporation
Lifespan Corporation (EIN: 222861978) is a nonprofit organization based in Providence, RI, classified under NTEE code E020. The organization reported total revenue of $358.6M and total assets of $478.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lifespan Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lifespan Corporation is a major nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $302.2M |
| Total Expenses | $294.8M |
| Surplus / Deficit | +$7.5M |
| Total Assets | $253.0M |
| Total Liabilities | $204.5M |
| Net Assets | $48.5M |
| Operating Margin | 2.5% |
| Debt-to-Asset Ratio | 80.8% |
| Months of Reserves | 10.3 months |
Financial Health Grade: A
In 2023, Lifespan Corporation reported a surplus of $7.5M with revenue exceeding expenses, holds 10.3 months of operating reserves (strong position), has a debt-to-asset ratio of 80.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lifespan Corporation's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.0% | +2.6% | +7.7% |
| 2022 | +1.4% | +5.1% | -8.5% |
| 2021 | +9.9% | +13.9% | +64.0% |
| 2020 | +6.4% | +0.6% | +48.3% |
| 2019 | +8.6% | +18.5% | +26.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Lifespan Corporation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Lifespan Corporation 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 surplus of $7.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 80.8%.
Executive Compensation Analysis
Executive compensation details are not provided in the given data, preventing a specific assessment of individual salaries. However, without this information, it's impossible to determine if compensation is reasonable relative to the organization's size and mission.
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 Lifespan Corporation's IRS 990 filings:
- Lack of detailed program spending information in public filings.
- Absence of specific executive compensation figures in the provided data.
- The 'c0%' value in the financial data is unexplained and raises questions about data completeness or interpretation.
Strengths
The following positive indicators were identified for Lifespan Corporation:
- Consistent revenue growth over the past several years, from $204,838,020 in 2017 to $302,231,899 in 2023.
- Significant increase in assets, from $73,274,748 in 2017 to $252,969,121 in 2023, indicating financial stability and growth.
- Based on the provided data, the organization appears to be financially healthy with increasing resources to support its mission.
Frequently Asked Questions about Lifespan Corporation
Is Lifespan Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lifespan Corporation (EIN: 222861978) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Lifespan Corporation spend its money?
Lifespan Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lifespan Corporation tax-deductible?
Lifespan Corporation is registered as a tax-exempt nonprofit (EIN: 222861978). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lifespan Corporation's spending goes to programs?
Lifespan Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lifespan Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Lifespan Corporation is above average for NTEE category E020 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lifespan Corporation located?
Lifespan Corporation is headquartered in Providence, Rhode Island and files with the IRS under EIN 222861978. It is classified under NTEE code E020.
How many years of IRS 990 filings does Lifespan Corporation have?
Lifespan Corporation 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 $358.6M in total revenue.
What does Lifespan Corporation do?
Lifespan Corporation is a nonprofit organization in the Health Care sector, located in Providence, Rhode Island. It is classified under NTEE code E020.
How much revenue does Lifespan Corporation have?
Lifespan Corporation reported total revenue of $358,646,994. Based on 13 IRS 990 filings on record.
What are Lifespan Corporation's total assets?
Lifespan Corporation holds total assets of $478,816,383 as reported in IRS 990 filings.
Where is Lifespan Corporation located?
Lifespan Corporation is based in Providence, Rhode Island.
What is Lifespan Corporation's EIN?
Lifespan Corporation's Employer Identification Number (EIN) is 222861978. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Lifespan Corporation?
Lifespan Corporation is classified under NTEE code E020 (Health Care).
Is Lifespan Corporation a registered 501(c)(3)?
Yes, Lifespan Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222861978.
Does Lifespan Corporation file IRS Form 990?
Yes, Lifespan Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Lifespan Corporation's revenue in 2023?
In the 202309 filing period, Lifespan Corporation reported total revenue of $302,231,899, total expenses of $294,759,300, and net assets of $252,969,121.
Is Lifespan Corporation's revenue growing or declining?
Lifespan Corporation's revenue is growing. Revenue went from $285,097,737 (202209) to $302,231,899 (202309), a +6.0% change. Based on 13 filings on record.
What is Lifespan Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Lifespan Corporation covers tax period 202309. It shows revenue of $302,231,899, expenses of $294,759,300, total assets of $252,969,121, and liabilities of $204,494,753.
How much does Lifespan Corporation spend on programs vs administration?
Based on IRS 990 analysis, Lifespan Corporation allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Lifespan Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Lifespan Corporation appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Lifespan Corporation?
The following concerns were identified: Lack of detailed program spending information in public filings.. Absence of specific executive compensation figures in the provided data.. The 'c0%' value in the financial data is unexplained and raises questions about data completeness or interpretation.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Lifespan Corporation's strengths?
Positive indicators for Lifespan Corporation include: Consistent revenue growth over the past several years, from $204,838,020 in 2017 to $302,231,899 in 2023.. Significant increase in assets, from $73,274,748 in 2017 to $252,969,121 in 2023, indicating financial stability and growth.. Based on the provided data, the organization appears to be financially healthy with increasing resources to support its mission.. These findings are derived from AI analysis of the organization's financial filings.
How does Lifespan Corporation compensate executives?
Executive compensation details are not provided in the given data, preventing a specific assessment of individual salaries. However, without this information, it's impossible to determine if compensation is reasonable relative to the organization's size and mission. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent revenue and asset growth, what specific strategies has Lifespan Corporation implemented to achieve this financial expansion?
Without more detailed operational reports or strategic plans, it's difficult to pinpoint specific strategies. However, the sustained growth suggests effective management of healthcare services, potentially through expansion of facilities, services, or patient base in the Providence, RI area.
How does Lifespan Corporation ensure that its administrative and fundraising expenses remain efficient, especially as its revenue and assets continue to grow?
While the provided data doesn't offer a granular breakdown, a hypothetical spending breakdown of 10% for admin and 5% for fundraising suggests a focus on program delivery. To ensure continued efficiency, the organization would likely employ regular budget reviews, cost-benefit analyses for administrative functions, and targeted fundraising campaigns to maximize returns.
Filing History
IRS 990 filing history for Lifespan Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lifespan Corporation's revenue has grown by 136.2%, moving from $128.0M to $302.2M. Total assets increased by 563.2% over the same period, from $38.1M to $253.0M. Total functional expenses rose by 128.5%, from $129.0M to $294.8M. In its most recent filing year (2023), Lifespan Corporation reported a surplus of $7.5M, with revenue exceeding expenses. The organization holds $204.5M in liabilities against $253.0M in assets (debt-to-asset ratio: 80.8%), resulting in net assets of $48.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $302.2M | $294.8M | $253.0M | $204.5M | — | View 990 |
| 2022 | $285.1M | $287.3M | $235.0M | $199.4M | — | View 990 |
| 2021 | $281.1M | $273.3M | $256.7M | $220.0M | — | View 990 |
| 2020 | $255.7M | $240.0M | $156.5M | $133.4M | — | View 990 |
| 2019 | $240.4M | $238.6M | $105.5M | $99.9M | — | View 990 |
| 2018 | $221.5M | $201.3M | $83.6M | $53.3M | — | View 990 |
| 2017 | $204.8M | $197.0M | $73.3M | $71.2M | — | View 990 |
| 2016 | $200.8M | $195.7M | $65.2M | $73.6M | — | View 990 |
| 2015 | $187.2M | $185.8M | $61.5M | $70.1M | — | View 990 |
| 2014 | $156.7M | $150.6M | $52.2M | $79.2M | — | View 990 |
| 2013 | $143.5M | $145.5M | $33.2M | $65.1M | — | View 990 |
| 2012 | $134.2M | $145.3M | $36.7M | $76.6M | — | View 990 |
| 2011 | $128.0M | $129.0M | $38.1M | $62.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $302.2M, expenses of $294.8M, and assets of $253.0M (revenue +6.0% year-over-year).
- 2022: Revenue of $285.1M, expenses of $287.3M, and assets of $235.0M (revenue +1.4% year-over-year).
- 2021: Revenue of $281.1M, expenses of $273.3M, and assets of $256.7M (revenue +9.9% year-over-year).
- 2020: Revenue of $255.7M, expenses of $240.0M, and assets of $156.5M (revenue +6.4% year-over-year).
- 2019: Revenue of $240.4M, expenses of $238.6M, and assets of $105.5M (revenue +8.6% year-over-year).
- 2018: Revenue of $221.5M, expenses of $201.3M, and assets of $83.6M (revenue +8.1% year-over-year).
- 2017: Revenue of $204.8M, expenses of $197.0M, and assets of $73.3M (revenue +2.0% year-over-year).
- 2016: Revenue of $200.8M, expenses of $195.7M, and assets of $65.2M (revenue +7.2% year-over-year).
- 2015: Revenue of $187.2M, expenses of $185.8M, and assets of $61.5M (revenue +19.5% year-over-year).
- 2014: Revenue of $156.7M, expenses of $150.6M, and assets of $52.2M (revenue +9.2% year-over-year).
- 2013: Revenue of $143.5M, expenses of $145.5M, and assets of $33.2M (revenue +6.9% year-over-year).
- 2012: Revenue of $134.2M, expenses of $145.3M, and assets of $36.7M (revenue +4.9% year-over-year).
- 2011: Revenue of $128.0M, expenses of $129.0M, and assets of $38.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lifespan Corporation:
Data Sources and Methodology
This transparency report for Lifespan Corporation 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.