Lift Inc
- Assets
- $1.0m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Tupelo, MS
- Founding
- 01/1966
- Data as of
- 09/2022
- 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 09/2022, 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 09/2022, Lift Inc generated $6.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $6.4m during the year ending 09/2022. While expenses have increased by 9.2% 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
2022
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 |
|---|---|---|---|
Early Mckinney Chairman | Trustee | 1 | $0 |
Steve Scales Vice Chairman | Trustee | 1 | $0 |
Gwen Blake Secretary | Trustee | 1 | $0 |
Willie Ray Brown Board Member | Trustee | 1 | $0 |
Joe Wren Board Member | Trustee | 1 | $0 |
Hayward Wilson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,413,293 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,213 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,419,506 |
| Total Program Service Revenue | $0 |
| Investment income | $196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,400 |
| 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 | $6,474,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,948,656 |
| 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 | $816,471 |
| Pension plan accruals and contributions | $11,552 |
| Other employee benefits | $95,057 |
| Payroll taxes | $57,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $57,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,121 |
| Advertising and promotion | $892 |
| Office expenses | $140,851 |
| Information technology | $25 |
| Royalties | $0 |
| Occupancy | $164,395 |
| Travel | $18,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,248 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,685 |
| Insurance | $49,097 |
| All other expenses | $28,110 |
| Total functional expenses | $6,420,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $543,049 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $409,257 |
| 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 | $51,925 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,004,231 |
| Accounts payable and accrued expenses | $639,060 |
| Grants payable | $8,167 |
| Deferred revenue | $454,139 |
| 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 | $57,765 |
| Total liabilities | $1,159,131 |
| Net assets without donor restrictions | -$154,900 |
| 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 | $1,004,231 |