Omega Life Membership Foundation Inc
Omega Life Membership Foundation: Stable Finances, Limited Public Transparency
EIN: 222608127 · Washington, DC · NTEE: T22Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $937K |
| Total Expenses | $679K |
| Program Spending | 70% |
| Net Assets | $9.1M |
| Transparency Score | 65/100 |
Is Omega Life Membership Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Omega Life Membership Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Omega Life Membership Foundation Inc
Omega Life Membership Foundation Inc (EIN: 222608127) is a nonprofit organization based in Washington, DC, classified under NTEE code T22Z. The organization reported total revenue of $937K and total assets of $11.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Omega Life Membership Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Omega Life Membership Foundation Inc is a small nonprofit that has been operating for 37 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 7.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $679K |
| Surplus / Deficit | +$381K |
| Total Assets | $9.1M |
| Total Liabilities | $348 |
| Net Assets | $9.1M |
| Operating Margin | 35.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 161.0 months |
Financial Health Grade: A
In 2023, Omega Life Membership Foundation Inc reported a surplus of $381K with revenue exceeding expenses, holds 161.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Omega Life Membership Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -47.3% | +9.0% | +4.4% |
| 2022 | +51.1% | +38.8% | +18.7% |
| 2021 | +59.3% | -9.7% | +52.7% |
| 2020 | +28.6% | -2.6% | -2.2% |
| 2019 | -0.5% | +6.3% | +5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1989 |
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 Omega Life Membership Foundation Inc with a Mission Score of 65 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: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Omega Life Membership Foundation Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. 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 surplus of $381K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation details are not explicitly disclosed in the provided data, making a direct assessment of specific dollar amounts challenging without further filings.
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 Omega Life Membership Foundation Inc's IRS 990 filings:
- Lack of detailed program spending breakdown beyond general administrative and fundraising expenses in public filings.
- Limited public reporting on program outcomes and impact.
- Absence of specific executive compensation figures in the provided data.
Strengths
The following positive indicators were identified for Omega Life Membership Foundation Inc:
- Consistent revenue generation over the past several years.
- Healthy asset base of $11,931,235 as of the latest filing.
- Low or zero reported lobbying expenses across all provided years.
Frequently Asked Questions about Omega Life Membership Foundation Inc
Is Omega Life Membership Foundation Inc a legitimate charity?
Omega Life Membership Foundation Inc (EIN: 222608127) is a registered tax-exempt nonprofit based in Washington DC. Our AI analysis gives it a Mission Score of 65/100. It has 12 years of IRS 990 filings on record. Total revenue: $937K. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Omega Life Membership Foundation Inc spend its money?
Omega Life Membership Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Omega Life Membership Foundation Inc tax-deductible?
Omega Life Membership Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222608127). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Omega Life Membership Foundation Inc's spending goes to programs?
Omega Life Membership Foundation Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Omega Life Membership Foundation Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Omega Life Membership Foundation Inc is above average for NTEE category T22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Omega Life Membership Foundation Inc located?
Omega Life Membership Foundation Inc is headquartered in Washington, Washington DC and files with the IRS under EIN 222608127. It is classified under NTEE code T22Z.
How many years of IRS 990 filings does Omega Life Membership Foundation Inc have?
Omega Life Membership Foundation Inc has 12 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 $937K in total revenue.
What does Omega Life Membership Foundation Inc do?
Omega Life Membership Foundation Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Washington, District of Columbia. It is classified under NTEE code T22Z.
How much revenue does Omega Life Membership Foundation Inc have?
Omega Life Membership Foundation Inc reported total revenue of $936,749. Based on 12 IRS 990 filings on record.
What are Omega Life Membership Foundation Inc's total assets?
Omega Life Membership Foundation Inc holds total assets of $11,931,235 as reported in IRS 990 filings.
Where is Omega Life Membership Foundation Inc located?
Omega Life Membership Foundation Inc is based in Washington, District of Columbia.
What is Omega Life Membership Foundation Inc's EIN?
Omega Life Membership Foundation Inc's Employer Identification Number (EIN) is 222608127. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Omega Life Membership Foundation Inc?
Omega Life Membership Foundation Inc is classified under NTEE code T22Z (Philanthropy, Voluntarism & Grantmaking).
Is Omega Life Membership Foundation Inc a registered 501(c)(3)?
Yes, Omega Life Membership Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222608127.
Does Omega Life Membership Foundation Inc file IRS Form 990?
Yes, Omega Life Membership Foundation Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202303.
What was Omega Life Membership Foundation Inc's revenue in 2023?
In the 202303 filing period, Omega Life Membership Foundation Inc reported total revenue of $1,059,509, total expenses of $678,992, and net assets of $9,109,080.
Is Omega Life Membership Foundation Inc's revenue growing or declining?
Omega Life Membership Foundation Inc's revenue is declining. Revenue went from $2,010,899 (202203) to $1,059,509 (202303), a -47.3% change. Based on 12 filings on record.
What is Omega Life Membership Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Omega Life Membership Foundation Inc covers tax period 202303. It shows revenue of $1,059,509, expenses of $678,992, total assets of $9,109,080, and liabilities of $348.
How much does Omega Life Membership Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Omega Life Membership Foundation Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Omega Life Membership Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Omega Life Membership Foundation Inc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Omega Life Membership Foundation Inc?
The following concerns were identified: Lack of detailed program spending breakdown beyond general administrative and fundraising expenses in public filings.. Limited public reporting on program outcomes and impact.. Absence of specific executive compensation figures in the provided data.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Omega Life Membership Foundation Inc's strengths?
Positive indicators for Omega Life Membership Foundation Inc include: Consistent revenue generation over the past several years.. Healthy asset base of $11,931,235 as of the latest filing.. Low or zero reported lobbying expenses across all provided years.. These findings are derived from AI analysis of the organization's financial filings.
How does Omega Life Membership Foundation Inc compensate executives?
Executive compensation details are not explicitly disclosed in the provided data, making a direct assessment of specific dollar amounts challenging without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Omega Life Membership Foundation Inc?
- Publicly available financial statements are limited to IRS Form 990 filings. - Detailed program descriptions and impact reports are not readily accessible on their website. - Information regarding board meeting minutes or governance policies is not published. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the organization ensure its mission is effectively communicated and its impact measured given the limited public program details?
Without more detailed program descriptions and impact reports, it's difficult to ascertain how Omega Life Membership Foundation Inc. communicates its mission's effectiveness and measures its impact to the public or potential donors.
What is the strategy behind the significant increase in assets from $4,048,142 in 2016 to $11,931,235 in 2023?
The substantial growth in assets suggests successful financial management or investment strategies, but the specific drivers (e.g., investment returns, large donations, capital campaigns) are not detailed in the provided data.
Filing History
IRS 990 filing history for Omega Life Membership Foundation Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Omega Life Membership Foundation Inc's revenue has grown by 128.5%, moving from $464K to $1.1M. Total assets increased by 169.8% over the same period, from $3.4M to $9.1M. Total functional expenses rose by 3.5%, from $656K to $679K. In its most recent filing year (2023), Omega Life Membership Foundation Inc reported a surplus of $381K, with revenue exceeding expenses. The organization holds $348 in liabilities against $9.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $9.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $679K | $9.1M | $348 | — | View 990 |
| 2022 | $2.0M | $623K | $8.7M | $0 | — | — |
| 2021 | $1.3M | $449K | $7.4M | $10K | — | View 990 |
| 2020 | $835K | $497K | $4.8M | $0 | — | View 990 |
| 2019 | $650K | $510K | $4.9M | $0 | — | View 990 |
| 2018 | $653K | $480K | $4.7M | $0 | — | — |
| 2017 | $633K | $506K | $4.4M | $0 | — | View 990 |
| 2016 | $614K | $475K | $4.0M | $0 | — | View 990 |
| 2015 | $902K | $458K | $4.1M | $0 | — | View 990 |
| 2014 | $485K | $399K | $3.5M | $0 | — | View 990 |
| 2013 | $504K | $504K | $3.4M | $38K | — | View 990 |
| 2012 | $464K | $656K | $3.4M | $125K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $679K, and assets of $9.1M (revenue -47.3% year-over-year).
- 2022: Revenue of $2.0M, expenses of $623K, and assets of $8.7M (revenue +51.1% year-over-year).
- 2021: Revenue of $1.3M, expenses of $449K, and assets of $7.4M (revenue +59.3% year-over-year).
- 2020: Revenue of $835K, expenses of $497K, and assets of $4.8M (revenue +28.6% year-over-year).
- 2019: Revenue of $650K, expenses of $510K, and assets of $4.9M (revenue -0.5% year-over-year).
- 2018: Revenue of $653K, expenses of $480K, and assets of $4.7M (revenue +3.1% year-over-year).
- 2017: Revenue of $633K, expenses of $506K, and assets of $4.4M (revenue +3.1% year-over-year).
- 2016: Revenue of $614K, expenses of $475K, and assets of $4.0M (revenue -31.9% year-over-year).
- 2015: Revenue of $902K, expenses of $458K, and assets of $4.1M (revenue +86.2% year-over-year).
- 2014: Revenue of $485K, expenses of $399K, and assets of $3.5M (revenue -3.8% year-over-year).
- 2013: Revenue of $504K, expenses of $504K, and assets of $3.4M (revenue +8.6% year-over-year).
- 2012: Revenue of $464K, expenses of $656K, and assets of $3.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Omega Life Membership Foundation Inc:
Data Sources and Methodology
This transparency report for Omega Life Membership Foundation Inc 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.