Lyrics for Life Foundation Inc

Nonprofit profile at a glance

EIN
593757395
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2013, Form 990-N 2016
Location
Louisville, KY, USA
Phone
7066723929
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$245,400
Expenses
$182,574
Assets
$99,764
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • KEN BLOCK (PRESIDENT, CHAIRMAN)
  • JOEL COBDEN (VICE-PRESIDENT, VICE-CHAIR)

People named in this filing

  • KEN BLOCK (PRESIDENT, CHAIRMAN)
  • JOEL COBDEN (VICE-PRESIDENT, VICE-CHAIR)
  • TIM BOGLE (TREASURER, SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of lyrics for life is to make a difference in the fight against pediatric cancer by donating monies raised to both groups working to find a cure and those aiming to enrich the lives of patients and their families.

What it reported doing in 2024

Provided contributions to various charitable organizations

Operating model

Revenue model
Other-operating. 80% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. 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: 67
  • Transparency & Controls: 94
  • Accountability: 64
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.6%; rating input score 68
  • 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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 1 of 7 controls in place; rating input score 14
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 25.6%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 13.7% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 67.6% of revenue deployed · 87.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.