Lift Inc
- Assets
- $308.8k
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 23
- Location
- Tupelo, MS
- Founding
- 01/1966
- Data as of
- 09/2021
- EIN
- 64-0433402
Organization Overview
Lift Inc is located in Tupelo, MS. The organization was established in 1966. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Lift Inc employed 23 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 09/2021, Lift Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $4.1m during the year ending 09/2021. While expenses have increased by 2.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER INDIVIDUALS AND FAMILIES TOWARD SELF-SUFFICIENCY BY PROVIDING QUALITY PROGRAMS, SERVICES, AND OPPORTUNITIES AND TO HELP SHAPE THE FUTURE OF OUR AREA COMMUNITIES THROUGH DIALOGUE AND CONSENSUS BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SERVICE- PROVIDES OVERALL MANAGEMENT OF AGENCY PROJECTS AND PROVIDED ASSISTANCE TO LOW-INCOME FAMILIES THAT ARE FOUND TO BE IN NEED OF FOOD, SHELTER, CLOTHING AND UTILITY ASSITANCE
ENERGY ASSISTANCE & CONSERVATION - PROVIDES DIRECT ASSISTANCE TO LOW INCOME HOUSEHOLDS TO OFFSET ENERGY COSTS AND WEATHERIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dorothy Leasy Executive Director | Officer | 40 | $59,666 |
Chevelle Powell CFO | Officer | 40 | $38,648 |
Gwen Blake Secretary | Trustee | 1 | $0 |
James Howell Board Member | Trustee | 1 | $0 |
Dora Clark Board Member | Trustee | 1 | $0 |
Barry Williams Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,001,289 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,147 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,010,436 |
| Total Program Service Revenue | $0 |
| Investment income | $101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| 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 | $4,064,003 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,798,606 |
| 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 | $687,162 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $147,861 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,489 |
| Advertising and promotion | $759 |
| Office expenses | $134,530 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $159,187 |
| Travel | $6,099 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,248 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,375 |
| Insurance | $35,381 |
| All other expenses | $10,913 |
| Total functional expenses | $4,054,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,261 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $22,906 |
| 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 | $56,610 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $308,777 |
| Accounts payable and accrued expenses | $16,213 |
| Grants payable | $103,192 |
| Deferred revenue | $363,768 |
| 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 | $34,777 |
| Total liabilities | $517,950 |
| Net assets without donor restrictions | -$209,173 |
| 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 | $308,777 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lift Inc has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Bancorpsouth Foundation Irrv Tr Tupelo, MS PURPOSE: OPERATIONAL SUPPORT | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lift Inc Tupelo, MS | $308,777 | $4,064,003 |
Memphis Land Bank Inc Memphis, TN | $18,817,383 | $908,597 |
Opportunity Alabama Inc Birmingham, AL | $476,898 | $802,784 |
Mid-South Resource Conservation And Development Council Inc Montgomery, AL | $756,293 | $878,672 |
Six Bridges Capital Corporation Little Rock, AR | $166,266 | $359,401 |
Arkansas Independent Producers And Royalty Owners Association Inc Little Rock, AR | $370,547 | $208,976 |
Downtown Kingsport Association Inc Kingsport, TN | $120,764 | $158,092 |
Hoover Helps Hoover, AL | $125,587 | $165,616 |
Kitty Degree Foundation West Monroe, LA | $1,982,835 | $125,299 |
Oak Ridge Rotary Community Fund Oak Ridge, TN | $26,782 | $13,113 |
Arkansas Fund Little Rock, AR | $619 | $0 |
Community Development Foundation Of Jones County Inc Laurel, MS | $55,872 | $0 |