Life Experiences Inc
- Assets
- $1.4m
- Revenue
- $236.8k
- Investments
- $281.5k
- Employees
- 30
- Location
- Morrisville, NC
- Founding
- 01/1979
- Data as of
- 06/2022
- EIN
- 56-1201695
Organization Overview
Life Experiences Inc is located in Morrisville, NC. The organization was established in 1979. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2022, Life Experiences Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Experiences 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 06/2022, Life Experiences Inc generated $236.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.0%) each year. All expenses for the organization totaled $150.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (18.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AND IMPROVE THE LIVES OF ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES
Describe the Organization's Program Activity:
LIFE EXPERIENCES' SCHOLARSHIP PROGRAM FOR ADULTS WITH I/DD WAS LAUNCHED TO SUPPLEMENT THE FUNDING GAP FOR FAMILIES WHO DEMONSTRATE EVIDENCE OF NEED. THESE SCHOLARSHIPS ENABLE FAMILIES TO ACCESS PROGRAMMING FOR I/DD ADULTS. SCHOLARSHIPS WERE AWARDED TO SEVEN INDIVIDUALS IN 2021-2022, THE INAUGURAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Manganaro Operations Director | Officer | 40 | $57,692 |
Michelle Hile Interim Director (2/1/22-6/30/22) | Officer | 25 | $1,006 |
A Michael Cuomo Chair | OfficerTrustee | 2 | $0 |
Kenneth Bollinger Treasurer | OfficerTrustee | 2 | $0 |
Frances Grant Secretary | OfficerTrustee | 2 | $0 |
Harold K Jordan Jr Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,410 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,924 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,334 |
| Total Program Service Revenue | $0 |
| Investment income | $2,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $112,921 |
| Net Gain/Loss on Asset Sales | $15,651 |
| Net Income from Fundraising Events | $8,350 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,433 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $236,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,575 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $51,457 |
| Compensation of current officers, directors, key employees. | $5,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,494 |
| Pension plan accruals and contributions | $585 |
| Other employee benefits | $7,654 |
| Payroll taxes | $3,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,355 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,265 |
| Advertising and promotion | $239 |
| Office expenses | $12,671 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $529 |
| Travel | $716 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $545 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,383 |
| Insurance | $2,395 |
| All other expenses | $0 |
| Total functional expenses | $150,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,584 |
| Savings and temporary cash investments | $58,644 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,248 |
| 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 | $4,500 |
| Net Land, buildings, and equipment | $870,032 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $281,525 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $640 |
| Total assets | $1,381,173 |
| Accounts payable and accrued expenses | $1,061 |
| 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 | $342,554 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,976 |
| Total liabilities | $372,591 |
| Net assets without donor restrictions | $1,008,582 |
| 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 | $1,381,173 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Life Experiences Inc has recieved totaling $230.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $230 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Signal Centers Inc Chattanooga, TN | $10,070,860 | $27,319,073 |
Louise W Eggleston Center Inc Norfolk, VA | $29,105,931 | $28,904,867 |
Boulder Crest Foundation Bluemont, VA | $39,968,822 | $23,145,930 |
Central Fairfax Services Inc Springfield, VA | $6,565,063 | $13,281,706 |
Area Congregations Together In Service Richmond, VA | $1,536,280 | $15,128,315 |
Cedars Of Chapel Hill Club Inc Chapel Hill, NC | $6,435,897 | $14,257,296 |
Meritan Inc Memphis, TN | $4,688,088 | $16,356,031 |
Sober Living America Inc Woodstock, GA | $3,253,129 | $12,866,607 |
Hilltoppers Inc Crossville, TN | $11,714,552 | $11,864,400 |
Lakeway Center Of The Handicapped Inc Morristown, TN | $5,691,574 | $10,737,798 |
Project Community Connections Inc Snellville, GA | $7,907,860 | $10,954,285 |
Prs Inc Oakton, VA | $7,358,160 | $12,734,897 |