Lift Inc is located in Washington, DC. The organization was established in 1999. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2023, Lift Inc employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lift 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 06/2023, Lift Inc generated $12.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $7.9m during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LIFT'S MISSION IS TO BREAK THE CYCLE OF POVERTY BY INVESTING IN PARENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1998, LIFT, INC IS A NATIONAL NONPROFIT ON A MISSION TO BREAK THE CYCLE OF POVERTY BY INVESTING IN PARENTS. DECADES OF INEQUITY AND UNDERINVESTMENT IN COMMUNITIES HAVE KEPT LOW-INCOME FAMILIES TRAPPED IN A CYCLE THAT, LIKE WEALTH, IS PASSED DOWN FROM GENERATION TO GENERATION. ALL FAMILIES DESERVE A BETTER FUTURE - NO MATTER THEIR RACE, ETHNICITY, OR ZIP CODE. LIFT BUILDS FAMILIES' WELL-BEING, FINANCIAL STRENGTH, AND SOCIAL CONNECTIONS TO LIFT TWO GENERATIONS AT ONCE - AN INVESTMENT OF HOPE, MONEY, AND LOVE. ROOTED IN A RELATIONSHIP FILLED WITH DIGNITY AND TRUST, LIFT'S ONE-ON-ONE COACHING PROGRAM EMPOWERS PARENTS TO SET AND ACHIEVE GOALS - SUCH AS GOING BACK TO SCHOOL, IMPROVING CREDIT, ELIMINATING DEBT, OR SECURING A LIVING WAGE THAT PUT THEIR FAMILIES ON THE PATH TO (CONTINUED ON SCHEDULE O)ECONOMIC MOBILITY. AS PART OF ITS INVESTMENT IN FAMILIES, IN 2018, LIFT LAUNCHED THE FAMILY GOAL FUND WHICH PROVIDES DIRECT, UNRESTRICTED CASH TO FAMILIES. LIFT REDUCES STRESS AND INCREASES FINANCIAL SLACK BY GIVING CASH DIRECTLY TO PARENTS SO THAT THEY DON'T HAVE TO CHOOSE BETWEEN THEIR EMERGENCY NEEDS AND LONG-TERM GOALS. AS PARENTS PERSIST THROUGH LIFT'S TWO-YEAR PROGRAM, THEY RECEIVE A TOTAL OF $1,200, DISTRIBUTED IN THREE-MONTH INTERVALS TO STAY ON TRACK TO REACH THEIR GOALS. LIFT BELIEVES THAT PARENTS KNOW THEIR FAMILIES' NEEDS BETTER THAN ANY PROGRAM COULD, AND THEIR EVIDENCE SHOWS THAT PARENTS USE THESE FUNDS TO REINVEST IN THEMSELVES, THEIR FAMILIES, AND THEIR GOALS. LIFT'S DIRECT SERVICE COACHING MODEL OPERATING IN CHICAGO, LOS ANGELES, NEW YORK, AND WASHINGTON D.C. CHANGES LIVES. AND, NOW THROUGH NEW, SUCCESSFUL CAPACITY-BUILDING PARTNERSHIPS AND ADVOCACY EFFORTS, WE ARE POISED TO SHIFT HOW SOCIAL SERVICE AND OTHER SYSTEMS FUNCTION FOR THE MILLIONS OF FAMILIES LIVING IN POVERTY NATIONWIDE. OUR SYSTEMS CHANGE GOALS STEM FROM THE HUMANITY THAT UNDERPINS OUR DIRECT SERVICE MODEL AS THE FOUNDATION FROM WHERE WE GENERATE OUR LEARNING, INSIGHTS, BEST PRACTICE, AND RESPONSIVE INNOVATIONS LIKE GIVING CASH. LIFT USES IMPACT DATA ALONGSIDE PARENT VOICE AND EXPERIENCE TO MITIGATE, AND ULTIMATELY CHANGE, THE ACTIONS OF SYSTEMS AND POLICIES THAT DRAIN HOPE, HARM COMMUNITIES, AND LIMIT ACCESS AND SUCCESS. AT FEDERAL, STATE, AND CITY LEVELS, OUR GOALS INCLUDE CHANGING PRACTICE, SYSTEMS, AND POLICIES THAT BUILD FINANCIAL AND SOCIAL CAPITAL FOR FAMILIES. LIFT'S STRATEGIC PLAN BUILDS ON OUR DIRECT SERVICE TO ACHIEVE POPULATION-LEVEL IMPACT THROUGH 1) STRATEGIC PARTNERSHIPS THAT EFFECTIVELY SHIFT PUBLIC SECTOR PRACTICE TO BETTER SUPPORT PARENT'S ECONOMIC MOBILITY, AND 2) ADVOCACY WORK TO SHIFT NARRATIVES, EDUCATE POLICYMAKERS, AND PROMOTE POLICIES THAT REDUCE POVERTY.LIFT HAS SERVICE SITES IN CHICAGO, LOS ANGELES, NEW YORK CITY, AND WASHINGTON D.C., AND PARTNERS WITH HEALTH SYSTEMS, COLLEGES, AND LOCAL AND NATIONAL GOVERNMENTS TO ADOPT ITS APPROACH ACROSS THE COUNTRY. LEARN MORE AT WHYWELIFT.ORG
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michelle Rhone-Collins Chief Executive Officer | OfficerTrustee | 40 | $253,488 |
Gina Del Carmen Coburn Board Chair | OfficerTrustee | 1 | $0 |
Will Darman Director/treasurer | OfficerTrustee | 1 | $0 |
Jon Budington Director | Trustee | 1 | $0 |
Dannielle Campos Director | Trustee | 1 | $0 |
Emilio Diez Barroso Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Usio Inc Prepaid Card Mktg & Process. & Pmt Distr | 6/29/23 | $224,388 |
Creative Financial Staffing Temporary Staffing Services | 6/29/23 | $126,020 |
Yevgeniya Bulayevskaya Fundraising Services | 6/29/23 | $120,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $50,000 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $10,000 |
All other contributions, gifts, grants, and similar amounts not included above | $11,950,502 |
Noncash contributions included in lines 1a–1f | $69,604 |
Total Revenue from Contributions, Gifts, Grants & Similar | $12,010,502 |
Total Program Service Revenue | $0 |
Investment income | $64,366 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $10 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,074,878 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $268,925 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,048,389 |
Compensation of current officers, directors, key employees. | $261,131 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,731,118 |
Pension plan accruals and contributions | $88,055 |
Other employee benefits | $330,746 |
Payroll taxes | $365,436 |
Fees for services: Management | $0 |
Fees for services: Legal | $7,283 |
Fees for services: Accounting | $44,269 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $28,187 |
Fees for services: Investment Management | $150 |
Fees for services: Other | $831,519 |
Advertising and promotion | $10,354 |
Office expenses | $129,005 |
Information technology | $202,366 |
Royalties | $0 |
Occupancy | $332,598 |
Travel | $108,893 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $180,767 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $59,946 |
Insurance | $30,672 |
All other expenses | $34,232 |
Total functional expenses | $7,921,341 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $9,816,982 |
Savings and temporary cash investments | $5,000 |
Pledges and grants receivable | $5,444,146 |
Accounts receivable, net | $5,495 |
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 | $76,125 |
Net Land, buildings, and equipment | $287,435 |
Investments—publicly traded securities | $9,933 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,038,027 |
Total assets | $16,683,143 |
Accounts payable and accrued expenses | $982,105 |
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 | $1,476,152 |
Total liabilities | $2,458,257 |
Net assets without donor restrictions | $8,025,464 |
Net assets with donor restrictions | $6,199,422 |
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 | $16,683,143 |