The Life Is Good Kids Foundation Inc
The Life Is Good Kids Foundation consistently directs funds to programs, operating with zero reported officer compensation despite fluctuating revenues and occasional deficits.
EIN: 205524270 · Boston, MA · NTEE: T31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.9M |
| Program Spending | 85% |
| Net Assets | $2.6M |
| Transparency Score | 88/100 |
Is The Life Is Good Kids Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Life Is Good Kids Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Life Is Good Kids Foundation Inc
The Life Is Good Kids Foundation Inc (EIN: 205524270) is a nonprofit organization based in Boston, MA, classified under NTEE code T31. The organization reported total revenue of $1.3M and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Life Is Good Kids Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Life Is Good Kids Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-772,579 |
| Total Assets | $2.6M |
| Total Liabilities | $49K |
| Net Assets | $2.6M |
| Operating Margin | -67.3% |
| Debt-to-Asset Ratio | 1.9% |
| Months of Reserves | 16.4 months |
Financial Health Grade: B
In 2023, The Life Is Good Kids Foundation Inc reported a deficit of $773K with expenses exceeding revenue, holds 16.4 months of operating reserves (strong position), has a debt-to-asset ratio of 1.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Life Is Good Kids Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -43.8% | +3.9% | -24.1% |
| 2022 | -14.8% | +14.3% | +6.4% |
| 2021 | -1.6% | -13.8% | +27.8% |
| 2020 | -4.7% | -8.5% | +34.5% |
| 2019 | +72.9% | +13.4% | +35.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 The Life Is Good Kids Foundation Inc with a Mission Score of 88 out of 100 (Excellent). 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, The Life Is Good Kids Foundation Inc 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 deficit of $773K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not directly compensated by the foundation, which is highly unusual for an organization of this size and suggests either volunteer leadership or compensation through an affiliated entity.
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 The Life Is Good Kids Foundation Inc's IRS 990 filings:
- Consistent operating deficits in multiple years (e.g., 2023, 2018, 2017, 2016, 2015, 2014) where expenses exceeded revenue, potentially indicating reliance on reserves or other funding sources.
- Zero reported officer compensation across all filings, which is unusual for an organization of this size and could suggest compensation is handled by an affiliated entity, potentially obscuring the full picture of leadership costs.
Strengths
The following positive indicators were identified for The Life Is Good Kids Foundation Inc:
- Strong program focus, indicated by the likely high percentage of spending directed towards programs.
- Excellent financial transparency with 13 consistent IRS 990 filings.
- Healthy asset base (e.g., $2,625,594 in 2023) providing financial stability.
- Low liabilities relative to assets (e.g., $48,829 liabilities vs. $2,625,594 assets in 2023), indicating good financial management.
- No reported officer compensation, suggesting a highly efficient use of donor funds for direct mission activities.
Frequently Asked Questions about The Life Is Good Kids Foundation Inc
Is The Life Is Good Kids Foundation Inc a legitimate charity?
The Life Is Good Kids Foundation Inc (EIN: 205524270) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.3M. 2 red flags identified. 5 strengths noted. Financial health grade: B.
How does The Life Is Good Kids Foundation Inc spend its money?
The Life Is Good Kids Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to The Life Is Good Kids Foundation Inc tax-deductible?
The Life Is Good Kids Foundation Inc is registered as a tax-exempt nonprofit (EIN: 205524270). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Life Is Good Kids Foundation Inc's spending goes to programs?
The Life Is Good Kids Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Life Is Good Kids Foundation Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), The Life Is Good Kids Foundation Inc is above average for NTEE category T31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Life Is Good Kids Foundation Inc located?
The Life Is Good Kids Foundation Inc is headquartered in Boston, Massachusetts and files with the IRS under EIN 205524270. It is classified under NTEE code T31.
How many years of IRS 990 filings does The Life Is Good Kids Foundation Inc have?
The Life Is Good Kids Foundation Inc 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 $1.3M in total revenue.
Is The Life Is Good Kids Foundation Inc a good charity?
Based on the available data, The Life Is Good Kids Foundation Inc appears to be a good charity. It consistently reports 0% officer compensation, indicating a strong commitment to directing funds towards its mission. Its program spending is likely high, and it maintains a healthy asset base, suggesting financial stability despite some years where expenses exceeded revenue.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this scale. This could mean that the leadership is entirely volunteer-based, or that compensation for key personnel is covered by an affiliated entity (e.g., The Life Is Good company) rather than directly by the foundation's funds. Further investigation into related party transactions would clarify this.
What is the trend in the organization's financial health?
The organization's financial health shows a pattern of fluctuating revenues and occasional deficits, where expenses exceeded revenue (e.g., $1,147,795 revenue vs. $1,920,374 expenses in 2023). However, it maintains a strong asset base (e.g., $2,625,594 in assets in 2023) and low liabilities, indicating resilience and a capacity to absorb these deficits, likely by drawing on reserves.
Filing History
IRS 990 filing history for The Life Is Good Kids Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Life Is Good Kids Foundation Inc's revenue has declined by 29.7%, moving from $1.6M to $1.1M. Total assets increased by 13.2% over the same period, from $2.3M to $2.6M. Total functional expenses rose by 13.4%, from $1.7M to $1.9M. In its most recent filing year (2023), The Life Is Good Kids Foundation Inc reported a deficit of $773K, with expenses exceeding revenue. The organization holds $49K in liabilities against $2.6M in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $2.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $1.9M | $2.6M | $49K | — | View 990 |
| 2022 | $2.0M | $1.8M | $3.5M | $111K | — | — |
| 2021 | $2.4M | $1.6M | $3.3M | $96K | — | View 990 |
| 2020 | $2.4M | $1.9M | $2.5M | $165K | — | View 990 |
| 2019 | $2.6M | $2.1M | $1.9M | $70K | — | View 990 |
| 2018 | $1.5M | $1.8M | $1.4M | $78K | — | View 990 |
| 2017 | $1.5M | $1.9M | $1.7M | $90K | — | View 990 |
| 2016 | $1.6M | $2.0M | $2.2M | $156K | — | View 990 |
| 2015 | $1.8M | $2.0M | $2.5M | $23K | — | View 990 |
| 2014 | $1.3M | $1.9M | $2.7M | $43K | — | View 990 |
| 2013 | $2.3M | $2.2M | $3.2M | $72K | — | View 990 |
| 2012 | $2.2M | $1.6M | $3.0M | $65K | — | View 990 |
| 2011 | $1.6M | $1.7M | $2.3M | $49K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $1.9M, and assets of $2.6M (revenue -43.8% year-over-year).
- 2022: Revenue of $2.0M, expenses of $1.8M, and assets of $3.5M (revenue -14.8% year-over-year).
- 2021: Revenue of $2.4M, expenses of $1.6M, and assets of $3.3M (revenue -1.6% year-over-year).
- 2020: Revenue of $2.4M, expenses of $1.9M, and assets of $2.5M (revenue -4.7% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.1M, and assets of $1.9M (revenue +72.9% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.8M, and assets of $1.4M (revenue -0.2% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.9M, and assets of $1.7M (revenue -5.9% year-over-year).
- 2016: Revenue of $1.6M, expenses of $2.0M, and assets of $2.2M (revenue -14.5% year-over-year).
- 2015: Revenue of $1.8M, expenses of $2.0M, and assets of $2.5M (revenue +37.6% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.9M, and assets of $2.7M (revenue -40.8% year-over-year).
- 2013: Revenue of $2.3M, expenses of $2.2M, and assets of $3.2M (revenue +4.4% year-over-year).
- 2012: Revenue of $2.2M, expenses of $1.6M, and assets of $3.0M (revenue +32.3% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.7M, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Life Is Good Kids Foundation Inc:
Data Sources and Methodology
This transparency report for The Life Is Good Kids 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.