Lifenet Foundation
- Assets
- $1.9m
- Revenue
- $293.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 08/2001
- Data as of
- 12/2022
- EIN
- 54-2015370
Organization Overview
Lifenet Foundation is located in Virginia Beach, VA. The organization was established in 2001. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifenet Foundation 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, Lifenet Foundation generated $293.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $136.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Lifenet Foundation has awarded 23 individual grants totaling $504,071. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED GRIEF SERVICES AND PURCHASED PUBLIC EDUCATION MATERIALS FOR DISTRIBUTION TO THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Darrell Jessee Board Member | OfficerTrustee | 1 | $0 |
Mr Doug Wilson Chair | OfficerTrustee | 1 | $0 |
Mr Rony Thomas President/director | Trustee | 1 | $0 |
Mr J Philip Jones Treasurer | OfficerTrustee | 1 | $0 |
Mr Gordon Berkstresser Secretary | Trustee | 1 | $0 |
Mrs Ann Lange Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $332,170 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $431,643 |
| Total Program Service Revenue | $0 |
| Investment income | $169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$138,616 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $86,280 |
| 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. | $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 | $0 |
| Advertising and promotion | $1,008 |
| Office expenses | $1,222 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,573 |
| Travel | $2,157 |
| 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 | $235 |
| All other expenses | $43,818 |
| Total functional expenses | $136,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,914,814 |
| 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 | $10,000 |
| 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 | $1,924,814 |
| Accounts payable and accrued expenses | $11,218 |
| 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 | $11,218 |
| Net assets without donor restrictions | $1,913,596 |
| 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 | $1,924,814 |
Grants Awarded
Over the last fiscal year, Lifenet Foundation has awarded $86,280 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LIFENET HEALTH FLORIDA PURPOSE: DONOR FAMILY SERVICES | $14,700 |
LIFENET HEALTH PURPOSE: DONOR FAMILY SERVICES | $54,880 |
SARAH MICHELLE PETERSON FOUNDATION PURPOSE: ADOLESCENT SUICIDE PREVENTION PROGRAM | $5,000 |
LIFENET HEALTH NORTHWEST PURPOSE: DONOR FAMILY SERVICES | $11,700 |