Life Exchange Center
- Assets
- $1.1m
- Revenue
- $796.1k
- Investments
- $0.0
- Employees
- 31
- Location
- Cleveland, OH
- Founding
- 02/2012
- Data as of
- 12/2021
- EIN
- 80-0731251
Organization Overview
Life Exchange Center is located in Cleveland, OH. The organization was established in 2012. According to its NTEE Classification (F32) the organization is classified as: Community Mental Health Centers, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 12/2021, Life Exchange Center employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Exchange Center 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 Exchange Center generated $796.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $741.0k during the year ending 12/2021. While expenses have increased by 10.1% per year over the past 7 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
IT IS A BEACON OF HOPE AND RECOVERY FROM INDIVIDUALS WITH MENTAL HEALTH/SUBSTANCE USE ISSUES. THE CENTER IS DESIGNED TO ASSIST WITH THE RECOVERY PROCESS BY PROVIDING SOCIAL SUPPORT, EDUCATIONAL PROGRAMS, AND LIFE SKILLS TRAINING FOR INDIVIDUALS IN RECOVERY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT SOCIAL INTERACTION AND GROUP EXPERIENCE IN AN ACCEPTING FAMILY LIKE ENVIRONMENT TO PROVIDE SERVICES WHICH ARE NOT ONLY DELIVERED BY CONSUMERS, BUT ALSO ARE PLANNED DEVELOPED AND EVALUATED BY CONSUMERS TO PROVIDE CONSUMERS WITH OPPORTUNITIES TO DEVELOP SELF EMPOWERMENT AND TO MAKE INFORMED CHOICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Poole Board President | Officer | 2 | $0 |
Omar Brown Treasurer | Officer | 2 | $0 |
Terry Lester Board Vice President | Officer | 2 | $0 |
Linda Edwards Board Member | 1 | $0 | |
Catherine Wright Board Member | 1 | $0 | |
Cheryl Ann Williams Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,658 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $770,996 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,494 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $796,148 |
| 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 | $796,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $62,000 |
| Compensation of current officers, directors, key employees. | $15,500 |
| Compensation to disqualified persons | $382,476 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $45,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,685 |
| Advertising and promotion | $0 |
| Office expenses | $15,130 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,383 |
| Travel | $3,571 |
| 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 | $33,534 |
| Insurance | $15,161 |
| All other expenses | $0 |
| Total functional expenses | $740,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $245,290 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,474 |
| 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 | $4,851 |
| Net Land, buildings, and equipment | $805,298 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,149,913 |
| Accounts payable and accrued expenses | $13,044 |
| Grants payable | $0 |
| Deferred revenue | $55,266 |
| 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 | $323,470 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $391,780 |
| Net assets without donor restrictions | $758,133 |
| 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 | $1,149,913 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Life Exchange Center has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Saint Lukes Foundation Of Cleveland Ohio Cleveland, OH PURPOSE: HEALING USING HOPE AND CULTURALLY RELEVANT WELLNESS TECHNIQUES | $50,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Vista Of The Bluegrass Inc Lexington, KY | $58,587,426 | $85,181,572 |
Harbor Toledo, OH | $28,147,394 | $52,749,781 |
Adult And Child Mental Health Center Inc Indianapolis, IN | $28,911,092 | $44,803,390 |
The Guidance Center Southgate, MI | $18,575,609 | $40,606,408 |
Green River Regional Mental Health Mental Retardation Board Inc Owensboro, KY | $58,210,756 | $47,414,281 |
Southlake Community Mental Health Center Inc Merrillville, IN | $65,520,839 | $41,644,273 |
Prestera Center For Mental Health Huntington, WV | $16,823,156 | $38,180,390 |
Park Center Inc Fort Wayne, IN | $24,282,606 | $38,633,898 |
Lifespring Inc Jeffersonville, IN | $34,322,140 | $40,070,274 |
Erie County Care Managementincorporated Erie, PA | $17,584,486 | $34,097,875 |
Aspire Indiana Inc Noblesville, IN | $49,978,455 | $34,237,884 |
The Childrens Hospital Of Philadelphia Practice Association Philadelphia, PA | $3,586,225 | $14,860,595 |