Life Fund Inc
- Assets
- $134.3k
- Revenue
- $418.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 11/2001
- Data as of
- 12/2021
- EIN
- 52-2316124
Organization Overview
Life Fund Inc is located in Arlington, VA. The organization was established in 2001. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Fund 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 12/2021, Life Fund Inc generated $418.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $320.1k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE THE PUBLIC ABOUT THE INSURANCE PRODUCTS AND THE VALUE OF SEEKING PROFESSIONAL ADVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE LESSONS - QUALIFIED ENTRANTS WHO SUBMITTED ESSAYS OR VIDEOS ABOUT HOW THE DEATH OF A PARENT OR GUARDIAN IMPACTED THEIR LIVES WERE BE ELIGIBLE FOR THE SCHOLARSHIP MONEY.IN 2021, THE FUND PROVIDED SCHOLARSHIPS IN THE AMOUNT OF $305,848 TO A TOTAL OF 42 STUDENTS.
ONLINE PROGRAM - THIS CONSUMER WEBSITE CONTAINS INFORMATION THAT ANSWERS QUESTIONS ABOUT LIFE, HEALTH, AND DISABILITY INSURANCE. IT IS A USEFUL RESOURCE FOR PEOPLE WHO WANT TO EDUCATE THEMSELVES ABOUT THEIR NEEDS, OPTIONS AND ACCESS. THE SITE CONTAINS BASIC INFORMATION ABOUT EACH TYPE OF INSURANCE NEEDS, CALCULATORS, QUIZ QUESTIONS AND A GLOSSARY. CYBER PUBLIC RELATIONS EFFORTS HELPED DRIVE A GREATER NUMBER OF VISITORS TO THE SITE. THE SITE HAS BEEN UPDATED AND REVISED TO BE MORE USER-FRIENDLY AND CONTAIN NEW INFORMATION ABOUT INSURANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Currey Past Chair | OfficerTrustee | 0.5 | $0 |
Jon M Voegele Chair | OfficerTrustee | 0.5 | $0 |
Kim Harding Chair-Elect | OfficerTrustee | 0.5 | $0 |
Erik Miller Secretary | OfficerTrustee | 0.5 | $0 |
Mike Weintraub Treasurer | OfficerTrustee | 0.5 | $0 |
Faisa Stafford President And CEO | Officer | 10 | $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 | $418,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $418,874 |
| Total Program Service Revenue | $0 |
| 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 | $418,874 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $305,848 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $11,495 |
| Advertising and promotion | $0 |
| Office expenses | $2,767 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $320,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,238 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $53,050 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $134,288 |
| 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 | $2,484,823 |
| Total liabilities | $2,484,823 |
| Net assets without donor restrictions | -$2,490,124 |
| Net assets with donor restrictions | $139,589 |
| 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 | $134,288 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Life Fund Inc has recieved totaling $16,570.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,100 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,470 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Seminar Network Inc Arlington, VA | $360,026,954 | $278,674,897 |
West Virginia University Medical Corporation Morgantown, WV | $21,363,966 | $59,205,918 |
Old Dominion Land Conservancy Inc Purcellville, VA | $5,990,691 | $40,101,797 |
Maryland Innovation And Security Institute Inc Baltimore, MD | $10,081,190 | $24,715,450 |
Community Action Council Of Howard County Md Inc Columbia, MD | $15,922,810 | $23,897,066 |
Cal Ripken Sr Foundation Inc Baltimore, MD | $24,973,997 | $16,406,660 |
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |