Lifeboat Inc
- Assets
- $2.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Bossier City, LA
- Founding
- 10/2000
- Data as of
- 12/2021
- EIN
- 72-1461140
Organization Overview
Lifeboat Inc, operating under the name Caesars Cares, is located in Bossier City, LA. The organization was established in 2000. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caesars Cares 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, Caesars Cares generated $2.9m in total revenue. All expenses for the organization totaled $982.8k during the year ending 12/2021. While expenses have increased by 113.9% 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
EMERGENCY RELIEF FUND FOR CAESARS EMPLOYEES AND THEIR FAMILIES SUFFERING FROM CATASTROPHES OR HARDSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021 LIFEBOAT CONTINUED TO SUPPORT THE UPDATED PHILANTHROPIC MISSION AND WAS ABLE TO SUCCESSFULLY PROVIDE OVER $978,657 IN GRANTS TO APPLICANTS WHO WERE EXPERIENCING FINANCIAL HARDSHIP DUE TO THE COVID HEALTH PANDEMIC AND OTHER DISASTERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelley Magdaluyo President | Officer | 12 | $0 |
Greg Palk Treasurer | Officer | 10 | $0 |
Cara Hall Secretary | Officer | 5 | $0 |
Sue Ascanio Trustee | Trustee | 10 | $0 |
Jack Myers Trustee | Trustee | 5 | $0 |
Michael English Trustee | Trustee | 6 | $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 | $2,872,834 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,872,834 |
| 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 | $2,882,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $978,657 |
| 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 | $0 |
| Office expenses | $4,136 |
| 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 | $982,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,584,341 |
| 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 | $62,820 |
| 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 | $2,647,161 |
| 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 | $2,647,161 |
| 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 | $2,647,161 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lifeboat Inc has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
St Louis Community Foundation Incorporated St Louis, MO PURPOSE: DISASTER RELIEF | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saudi Aramco Ret Welfare Ben Tr Houston, TX | $29,146 | $26,385,582 |
San Angelo Area Foundation San Angelo, TX | $221,834,647 | $42,062,458 |
Mercy Ships Foundation Lindale, TX | $100,019,661 | $12,520,932 |
Texas Womens Foundation Dallas, TX | $33,197,240 | $8,443,158 |
Gayle And Tom Benson Charitablefoundation Metairie, LA | $44,526 | $10,673,881 |
The Oscar J Tolmas Charitable Trust Metairie, LA | $58,086,420 | $4,279,649 |
The University Of Texas At Tyler Education Inc Tyler, TX | $0 | $51,128 |
University Of Arkansas Technology Development Foundation Fayetteville, AR | $18,380,736 | $2,093,754 |
Butcher Fund Houston, TX | $0 | $254,062 |
John R & Greli N Less Charitable Trust San Antonio, TX | $117,218,576 | $120,089,499 |
St Davids Community Health Foundation Initiatives Austin, TX | $27,867,184 | $2,942,176 |
Crow Family Foundation Inc Dallas, TX | $48,525 | $3,503 |