LIFE of North Carolina

Nonprofit profile at a glance

EIN
562132240
IRS 990 coverage
2019–2019
Forms available
Form 990 2019
Location
Greenville, NC, USA
Phone
2527529774
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$489,940
Expenses
$450,776
Assets
$58,463
Liabilities
$61,359

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

16 people listed

People named in this filing

  • Stephany Hinnant (Member)
  • Geri Lassiter (Vice Chairman)
  • Nikita E Daniels (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance health and wellness as well as intellectual and spiritual development.

What it reported doing in 2019

Board made decision to shut down operation due to funding difficulty amid COVID-19 environment. Dissolved organization on August 31, 2020 Organization moved to new location reducing lease expense by 62% Organization closed two grants with no audit exceptions

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 39
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: $41.09 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 1.05; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 89.6% of revenue deployed · 97.4% of spending went to programs
  • Governance: 16 of 16 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $439K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.