Overview
What is Life Chances Foundation?
Life Chances Foundation is a charitable organization situated in Sandy, Utah. As a grantmaker, their primary objective is to support 509(a)(1) and 509(a)(2) nonprofit organizations. These types of organizations are typically private foundations or public charities that adhere to certain tax regulations and are dedicated to promoting social welfare, education, arts, or other charitable causes. By providing financial aid and resources, Life Chances Foundation aims to bolster the impact and effectiveness of these organizations in their respective fields.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Life Chances Foundation has received a Three-Star rating from Charity Navigator, indicating a strong performance in its Accountability & Finance metrics. With an overall score of 84%, the charity demonstrates a high level of transparency and financial health, particularly highlighted by a 99.99% program expense ratio, meaning nearly all of its expenses are directed towards its programs.
The organization boasts a fully independent board, with 66% of its members being independent, which contributes positively to its governance practices. Additionally, it has well-established policies in place for conflict of interest, whistleblower protection, and document retention, all of which receive perfect scores. This reflects the foundation's commitment to ethical operations and accountability.
One notable strength is its liability to assets ratio of 0.00%, indicating no debt, further reinforcing its strong financial position. However, while the charity excels in these areas, the overall rating is based solely on the Accountability & Finance beacon, suggesting a lack of additional performance indicators that could provide a fuller picture of its overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Life Chances Foundation legitimate?
Life Chances Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Life Chances Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Life Chances Foundation?
The Life Chances Foundation, as a grantmaking organization, is committed to supporting 509(a)(1) and 509(a)(2) organizations. This mission statement implies that the foundation provides financial aid and resources to eligible nonprofit organizations, aiming to contribute to their ongoing activities and initiatives. By doing so, the Life Chances Foundation plays a crucial role in fostering the growth and success of these organizations, ultimately benefiting the communities they serve.
Who is the CEO of Life Chances Foundation?
Terry Jensen is the Trustee of Life Chances Foundation.
What is the revenue of Life Chances Foundation?
Life Chances Foundation's revenue in 2022 was $34,112.
Who are the executives of Life Chances Foundation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Life Chances Foundation?
Life Chances Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Life Chances Foundation
Life Chances Foundation, as a grantmaking public charity, is dedicated to carrying out a noble mission. This mission primarily revolves around providing support to two specific types of nonprofit organizations: 509(a)(1) and 509(a)(2) entities. By doing so, the foundation aims to contribute to the broader nonprofit sector, potentially impacting various communities and causes. The exact nature of the support provided by Life Chances Foundation to these organizations remains undetermined from the given information. However, it can be inferred that the foundation likely provides financial assistance, resources, or expertise to these nonprofits, thereby enabling them to fulfill their respective missions and make a difference in their respective fields.
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Impact
October, 2024
Life Chances Foundation significantly impacts communities by providing essential support to 509(a)(1) and 509(a)(2) organizations. This funding empowers various charitable groups to pursue their missions, fostering social change and improving lives across different sectors. Based in Sandy, UT, the foundation’s strategic grantmaking enhances the capabilities of recipient organizations, enabling them to deliver critical services, implement innovative programs, and address the needs of their communities. Through this philanthropy, Life Chances Foundation plays a vital role in enriching lives and promoting a more equitable society.
This information is meant to be a general summary of Life Chances Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $34,112
- Gross Receipts: $34,112
Assets and Liabilities:
- Total Assets: $3,057,575
- Total Liabilities: $0
- Net Assets: $3,057,575
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Organization Details
Founding Year
2004
Principal Officer
Terry Jensen
Main Address
2413 ROYAL LANE, SANDY, UT, 84093
NTEE Category
Code: T20 - Philanthropy
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