Life Fund Inc
- Assets
- $36.9k
- Revenue
- $352.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 11/2001
- Data as of
- 12/2022
- 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 12/2022, Life Fund Inc generated $352.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $395.5k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE THE GENERAL PUBLIC AND POLICY OWNERS, BENEFICIARIES AND OTHER APPROPRIATE CONSTITUENCIES OF THE VALUE OF THE SERVICES OF PROFESSIONAL INSURANCE PROFESSIONALS; AND TO EDUCATE THE PUBLIC OF THE SIGNIFICANT AND ESSENTIAL ROLE THAT THE LIFE AND HEALTH INSURANCE INDUSTRY AND ITS PRODUCTS PLAY IN A SOUND SOCIAL AND ECONOMIC SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE LESSONS - QUALIFIED ENTRANTS WHO SUBMITTED ESSAYS OR VIEOS ABOUT HOW THE DEATH OF A PARNET OR GUARDIAN IMPACTED THEIR LIVES WILL BE ELIGIBLE FOR THE SCHOLARSHIP MONEY.IN 2022, THE FUND PROVIDED SCHOLARSHIPS IN THE AMOUNT OF $264,115 TO A TOTAL OF 37 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 TEHMSELVES 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. TEH SITE HAS BEEN UPDATED AN 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 |
|---|---|---|---|
Faisa Stafford President | Officer | 10 | $0 |
Margaret Leyes Cco | Officer | 10 | $0 |
Joshua Dunham Cro | Officer | 10 | $0 |
Richard Pratte Head Of Product | Officer | 10 | $0 |
Mark Hanna Director | OfficerTrustee | 0.5 | $0 |
Kim Harding Past Chair | OfficerTrustee | 0.5 | $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 | $352,515 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,515 |
| 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 | $352,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $264,115 |
| 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 | $11,495 |
| 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 | $0 |
| Information technology | $5,819 |
| 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 | $395,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,879 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,000 |
| 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 | $36,879 |
| Accounts payable and accrued expenses | $400 |
| 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 | $2,429,978 |
| Total liabilities | $2,430,378 |
| Net assets without donor restrictions | -$2,496,757 |
| Net assets with donor restrictions | $103,258 |
| 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 | $36,879 |