Lifeskills Industries Inc

Nonprofit profile at a glance

EIN
611179808
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Bowling Green, KY, USA
Phone
2709015000
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational Rehabilitation

Official website

Reported finances

Revenue
$234,455
Expenses
$258,989
Assets
$0
Liabilities
$0

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

Leadership & pay

23 people listed

Executive titles in this filing

  • JOE DAN BEAVERS (PRESIDENT/CEO - LIFESKILLS, INC.)

Highest reported compensation

  • JOE DAN BEAVERS (PRESIDENT/CEO - LIFESKILLS, INC.): $268,995 total reported compensation
  • ERIC EMBRY (COO - LIFESKILLS, INC.): $263,144 total reported compensation
  • TOMMI HOLLOWAY (CFO - LIFESKILLS, INC.): $210,774 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 provide contract labor to lifeskills, inc., a related exempt organization.

What it reported doing in 2024

Lifeskills industries provides contract labor to lifeskills, inc., a related 501(c)(3) organization for use in workshops for individuals with intellectual disabilities in a ten-county area in Kentucky. Lifeskills, inc. Reimburses lifeskills industries for its actual costs.

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 11
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.8%; rating input score 97
  • Program expense ratio: 87.6%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -10.5%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 53.6%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -12% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -6.2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 96.8% of revenue deployed · 87.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $227K in reported program spending
  • Leadership: top reported pay $269K · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.