Life Management Inc

Nonprofit profile at a glance

EIN
223519521
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Montclair, NJ, USA
Phone
9736550300
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Centers

Reported finances

Revenue
$9,116,547
Expenses
$2,915,293
Assets
$98,478,864
Liabilities
$81,041,794

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • BARBARA HAVLIK (CHAIRPERSON/EXEC. DIRECTOR): $109,950 total reported compensation
  • ELLEN PARETTI (VICE CHAIRPERSON/OPS. DIR.): $57,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the quality of life for individuals vulnerable to crisis of daily living due to age, disability or socio-economic status, and foster affordable housing.

What it reported doing in 2024

Life management provides social service programs to 13 affordable housing projects located throughout essex and hudson counties. The services provided by life management include, educational, health and fitness and social activities for both adults and children. The services are free to the residents of these housing projects and are done through staff and consultants paid for by life management totaling 1,023 households and approximately 6,000 hours, as well as 688 adult education programs, 405 children's workshops, and 87 health workshops.

Operating model

Revenue model
Other-operating. 66% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 100
  • Accountability: 66
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.5%; rating input score 30
  • Program expense ratio: 93.3%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 33.78; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 19.1% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 20.6% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 30.5% of revenue deployed · 93.3% of spending went to programs
  • Governance: 2 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.7M in reported program spending
  • Leadership: top reported pay $110K · 4 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 17 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.