LifeNet Health

Legal name: Lifenet Foundation

Nonprofit profile at a glance

EIN
542015370
IRS 990 coverage
2011–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
800-847-7831
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Services N.E.C.

Official website

Reported finances

Revenue
$374,374
Expenses
$103,824
Assets
$2,648,840
Liabilities
$367,939

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

Leadership & pay

4 people listed

Highest reported compensation

  • MR RONY THOMAS (BOARD MEMBER): $4,117,970 total reported compensation
  • MR DOUG WILSON (CHAIR): $1,184,693 total reported compensation
  • MR J PHILIP JONES (TREASURER/CFO): $789,513 total reported compensation

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

Overview

Mission

Saving lives, restoring health and giving hope.

What it reported doing in 2024

Sponsored grief services and purchased public education materials for distribution to the general public.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 54
  • Transparency & Controls: 66
  • Accountability: 51
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.4%; rating input score 37
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 87.3%; rating input score 87; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • 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: 72.3%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 25.51; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 1,015.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 66th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 37.4% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $104K in reported program spending
  • Leadership: top reported pay $4.1M · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 6 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • High — Accountability: Independent voting board scored 25/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.