Life Plan Trust Inc

Nonprofit profile at a glance

EIN
581928259
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Apex, NC, USA
Phone
9195890017
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$256,683
Expenses
$346,911
Assets
$661,273
Liabilities
$23,481

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Jayne Tipton (President)

Highest reported compensation

  • Janita Moody (Executive Dir.): $111,896 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 and operate a service program to provide financial management and personal advocacy services to families of persons with severe and persistent mental illness and/or developmental disabilities.

What it reported doing in 2024

Provided financial management and personal advocacy services to families and individuals with severe and persistent mental illness and/or developmental disabilities. Provided continuing legal education to North Carolina attorneys on servicing the legal needs and future financial needs of families and individuals with severe and persistent mental illness and/or developmental disabilities.

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program 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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 26
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.8%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -35.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.91; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 32.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $301K in reported program spending
  • Leadership: top reported pay $112K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.