Life Project of North Carolina

Nonprofit profile at a glance

EIN
464331987
IRS 990 coverage
2023–2025
Forms available
Form 990 2025, Form 990-N 2022
Location
Charlotte, NC, USA
Phone
7043023699
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Youth Development Programs

Reported finances

Revenue
$299,588
Expenses
$310,258
Assets
$553
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Stephen Libby (President)
  • Veronica Washington (Vice President)

People named in this filing

  • Stephen Libby (President)
  • Veronica Washington (Vice President)
  • Jenna Knox (Treasurer)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of LIFE PROJECT OF NORTH CAROLINA is to help meet the communitysincreasing demand for basic needs through collaboration and innovative partnershipsthat provide access to essential resources, empower individuals and families, andfoster long-term sustainability and well-being. By working together with localorganizations, businesses, and community members, we strive to create a supportivenetwork that addresses the root causes of poverty and promotes health, stability, and opportunity for all.

What it reported doing in 2025

Educational Support/Mentoring: Facilitating daily learning labs for K-12 virtual learning, reading readiness for K-3, tutoring for all grades, and college prep guidance for 11th-12th graders, including financial aid workshops.

Operating model

Revenue model
Affiliate-supported. 87% of the money available for current operations came from contributions from related organizations.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 0
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: $95.71 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.6%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 33.4% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -88.1% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 86.9% of spending went to programs
  • Governance: 0 of 4 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 17 of 19 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.