Lifesource Inc
- Assets
- $77.5k
- Revenue
- $475.8k
- Investments
- $0.0
- Employees
- 12
- Location
- Somerville, AL
- Founding
- 02/2013
- Data as of
- 12/2022
- EIN
- 45-4734120
Organization Overview
Lifesource Inc is located in Somerville, AL. The organization was established in 2013. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Lifesource Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifesource Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Lifesource Inc generated $475.8k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 29.6% each year . All expenses for the organization totaled $435.3k during the year ending 12/2022. While expenses have increased by 28.7% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LIFESOURCE SERVES THE MOST UNDER-SERVED SEGMENT OF OUR SOCIETY - THOSE IN THE CRIMINAL JUSTICE SYSTEM WHO STRUGGLE WITH ADDICTION. LIFESOURCE IS A RESIDENTIAL RECOVERY PROGRAM WITH 3 HOUSES. 1 HOUSE FOR WOMEN AND CHILDREN, 1 HOUSE FOR MEN, AND A GRADUATE HOUSE FOR FEMALES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDED TRANSITIONAL HOUSING AT 3 DIFFERENT LOCATIONS. WE HOUSED OVER 100 DIFFERENT RESIDENTS DURING THE YEAR. WE OPERATED 3 CHRIST-CENTERED RESIDENTIAL RECOVERY HOUSES AND PROVIDED RESOURCES FOR THESE RESIDENTS TO MAKE A POSITIVE AND PERMANENT LIFE CHANGE. RESIDENTS RECEIVE SUBSTANCE ABUSE COUNSELING AND ENCOURAGEMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Joiner Director | Trustee | 1 | $0 |
Tina Cooper Director | Trustee | 1 | $0 |
Nathan Ladner Director | Trustee | 1 | $0 |
Robin Ladner Executive Director | Officer | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,350 |
| Total Program Service Revenue | $439,494 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,844 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,014 |
| Compensation of current officers, directors, key employees. | $4,014 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,648 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $550 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,585 |
| Advertising and promotion | $8,004 |
| Office expenses | $5,371 |
| Information technology | $2,003 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,770 |
| All other expenses | $110,100 |
| Total functional expenses | $435,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,534 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $53,969 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,503 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $77,503 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $77,503 |