Overview
What is Life Management Inc?
Life Management Inc is a nonprofit organization situated in Montclair, New Jersey, dedicated to enhancing the lives of low-income individuals and families residing in affordable housing projects across Essex and Hudson Counties. Their mission revolves around promoting quality of life for individuals vulnerable to crises due to age, disability, or socio-economic status. They achieve this by offering a variety of social services, including educational programs, health and fitness activities, and recreational workshops for both children and adults. These services are provided free of charge to the residents through a team of staff and consultants financed by Life Management Inc. Approximately 6,000 hours of services are offered annually to 1,023 households, along with 197 education programs, 188 empowerment workshops, and various art and recreation workshops. Life Management Inc also operates mentoring programs for children and operates summer camps for the convenience of three sites, ensuring a supervised setting during summer vacations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating
Life Management Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of performance in terms of accountability and finance. The organization’s score is primarily derived from its financial practices, which are assessed through various metrics that evaluate transparency and responsible management of funds.
One of the strengths of Life Management Inc includes its effective program expense ratio, which stands at 89.63%, suggesting that a significant majority of its expenditures are directed towards its programs rather than administrative costs. Additionally, the charity has strongly implemented policies for conflict of interest, whistleblowing, and document retention, all of which contribute positively to its governance framework.
However, the organization has a notable weakness in its liabilities to assets ratio, scoring 0 out of 15 points, which may indicate potential financial vulnerabilities. While the charity displays commendable accountability measures, its overall financial health appears to be a concern that could affect its long-term sustainability and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Life Management Inc legitimate?
Life Management Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Life Management Inc 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: $150,433
Professional Fundraising Fees: $0
Other Salaries and Wages: $221,643
For more financial information, click here
What is the mission statement of Life Management Inc?
Life Management Inc's mission is centered around enhancing the quality of life for individuals who are vulnerable due to age, disability, or socio-economic status. The organization strives to promote affordable housing and provides various social services as an advocacy. The services offered by Life Management Inc include educational, health and fitness, and social activities, all of which are free for the residents of the 13 affordable housing projects they serve. These services are delivered through staff and consultants paid by the organization. Life Management Inc offers a wide range of programs, including educational workshops, empowerment sessions, art and recreation workshops, and health and fitness workshops, catering to residents of all ages. They also operate mentoring programs for children and provide homework/computer labs to help students gain access to resources they may not have outside of school. During the summer, they operate camps for the convenience of some sites, allowing children to leave their apartments for a supervised setting while their parents are at work.
Who is the CEO of Life Management Inc?
Barbara Havlik-Exec Dir is the Chairperson/Exec. Director of Life Management Inc.
What is the revenue of Life Management Inc?
Life Management Inc's revenue in 2022 was $8,824,111.
Who are the executives of Life Management Inc and what are their salaries?
The average compensation at Life Management Inc during 2022 was $26,577. There are 14 employees and 1 volunteer at Life Management Inc.
Here are 4 key members and their salaries:
- Compensation: $97,131
- Related: $0
- Other: $0
- Compensation: $51,052
- Related: $0
- Other: $0
- Compensation: $2,250
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Life Management Inc?
Life Management Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Life Management Inc
Life Management Inc, a nonprofit organization, is dedicated to enhancing the quality of life for individuals who are vulnerable due to age, disability, or socio-economic status. The mission of this organization is to foster affordable housing and provide social services as an advocacy measure. By offering free educational, health, and fitness programs, as well as social activities, Life Management Inc aims to support the residents of 13 affordable housing projects located in Essex and Hudson Counties. These services are delivered through staff and consultants funded by the organization itself.
Life Management Inc's mission is reflected in the numerous programs and workshops it offers. These include 197 adult/youth education programs, 188 empowerment workshops, 154 art and recreation workshops for various age groups, 30 youth-specific art workshops, and 46 health and fitness workshops. The organization also operates mentoring programs for both boys and girls, serving seven sites. These programs meet regularly throughout the year, and each site offers homework/computer labs with varying hours of operation, providing children with access to necessary resources outside of school. Furthermore, Life Management Inc organizes summer camps for the convenience of three sites, offering a supervised environment for children during the summer months when school is not in session.
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Impact
October, 2024
Life Management Inc significantly enhances the quality of life for individuals facing socio-economic challenges in Essex and Hudson Counties. By focusing on low-income housing, the organization provides crucial support services that empower residents and help them thrive in their communities.
Through approximately 6,000 hours of dedicated services, Life Management Inc serves over 1,000 households with a variety of free programs that promote education, health, fitness, and social interaction. These offerings are designed not only to address immediate needs but also to cultivate a sense of community and belonging among residents.
Educational programs, which include 197 adult and youth education sessions, are crucial in equipping participants with skills and knowledge needed for personal growth and job preparedness. The empowerment workshops and art recreation classes foster creativity and self-expression, enriching the lives of both adults and children.
Moreover, the organization addresses the digital divide by providing access to computer labs, enabling students to complete homework and gain vital tech skills. These resources are particularly important for families who may not have internet access at home, thereby supporting academic achievement.
Life Management Inc also caters to the younger demographic through summer camps and mentoring programs, which provide safe and supervised environments for children while their parents are at work. This not only ensures that the youth are engaged in constructive activities but also helps in building resilience and social skills.
Overall, Life Management Inc plays a pivotal role in advocating for and supporting vulnerable individuals, fostering community cohesion, and promoting a better quality of life for those it serves.
This information is meant to be a general summary of Life Management Inc. 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: $25,107
- Program Service Revenue: $505,073
- Gross Receipts: $8,824,111
Assets and Liabilities:
- Total Assets: $80,451,042
- Total Liabilities: $70,084,054
- Net Assets: $10,366,988
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SOCIAL SERVICES INCOME
Revenue
$405,073
ADMINISTRATIVE FEE
Revenue
$100,000
Organization Details
Founding Year
1997
Phone
(973) 655-0300Principal Officer
Barbara Havlik-Exec Dir
Main Address
77 PARK STREET, MONTCLAIR, NJ, 07042
NTEE Category
Code: P81 - Human services
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