Overview
What is Life Plan Of Kentucky Inc?
Life Plan of Kentucky Inc. is a nonprofit organization situated in Lexington, Kentucky. Their primary focus is to administer pooled special needs trusts for individuals with disabilities who receive means-tested benefits. This service ensures that these individuals can maintain their eligibility for essential disability-related services and benefits. Beyond this, the organization offers educational programs and consultations for family members of people with disabilities, providing valuable insights into services available in Kentucky. Life Plan of Kentucky Inc. also offers recreational opportunities for individuals with disabilities and conducts informational programs about Kentucky Medicaid waivers and other services at no cost for eligible attendees. Moreover, the organization assists eligible individuals in establishing ABLE accounts to protect their eligibility for disability-related services and benefits. Additionally, Life Plan of Kentucky Inc. provides grants to disabled individuals with financial needs for the purchase of disability-related items and services.
Official website here: www.lifeplanofky.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. Life Plan Of Kentucky Inc has achieved a moderately positive rating, indicating a fair level of accountability and financial health. The organization excels in areas such as having a 100% independent board and a solid program expense ratio of 95.79%, which suggests that a significant portion of their resources is directed towards their programs.
The nonprofit has strengths in governance as it maintains an independent board size of 11 members and has no material diversion of assets. It also appropriately lists its website on tax forms and has established a conflict of interest policy, demonstrating a commitment to transparency. However, it is noted that the organization lacks a whistleblower policy and a document retention and destruction policy, which are essential components for comprehensive governance practices.
Overall, while Life Plan Of Kentucky Inc has a solid foundation and demonstrates a commitment to its mission, the absence of certain policies could be seen as a limitation in its governance framework. The organization may benefit from addressing these gaps to enhance its accountability and operational integrity further.
This AI summary has been generated from information found on Charity Navigator.
Is Life Plan Of Kentucky Inc legitimate?
Life Plan Of Kentucky Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Life Plan Of Kentucky 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: $190,319
Professional Fundraising Fees: $0
Other Salaries and Wages: $129,506
For more financial information, click here
Official website here: www.lifeplanofky.org
What is the mission statement of Life Plan Of Kentucky Inc?
Life Plan of Kentucky Inc's mission is centered around providing support to disabled individuals who receive means-tested benefits. The organization offers pooled trust services to these individuals and provides educational programs, consultations, and recreational opportunities for their family members at no cost. Life Plan of Kentucky Inc conducts informational programs about Kentuckyan Medicaid waivers and other services, offering them free of charge to individuals with disabilities, their families, case managers, and other professionals. The organization also assists eligible individuals to establish Able accounts, which help protect eligibility for disability-related services and benefits, at no cost. Furthermore, Life Plan of Kentucky Inc provides grants to disabled individuals with financial needs, enabling them to purchase essential items such as adaptive equipment, technology, communication devices, and other disability-related items.
Official website here: www.lifeplanofky.org
What is the revenue of Life Plan Of Kentucky Inc?
Life Plan Of Kentucky Inc's revenue in 2023 was $621,123.
Official website here: www.lifeplanofky.org
Who are the executives of Life Plan Of Kentucky Inc and what are their salaries?
The average compensation at Life Plan Of Kentucky Inc during 2023 was $63,965. There are 5 employees at Life Plan Of Kentucky Inc.
Here are 13 key members and their salaries:
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- Compensation: $58,269
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Official website here: www.lifeplanofky.org
Where can I find the form 990 for Life Plan Of Kentucky Inc?
Life Plan Of Kentucky Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lifeplanofky.org
Learn more at the official website: www.lifeplanofky.org
Mission Statement of Life Plan Of Kentucky Inc
Life Plan of Kentucky Inc, a nonprofit organization, is dedicated to providing services for disabled individuals who receive means-tested benefits. At its core, its mission involves offering pooled trust services to these individuals. Beyond this, the organization extends its support to family members of individuals with disabilities, offering educational programs, consultations, and recreational opportunities at no cost.
In addition to these services, Life Plan of Kentucky Inc conducts informational programs about Kentucky Medicaid waivers and other services at no charge for individuals with disabilities, their families, case managers, and other professionals. Recognizing the need for financial assistance, the organization also helps eligible individuals establish ABLE accounts to protect their eligibility for disability-related services and benefits.
Furthermore, Life Plan of Kentucky Inc provides grants for disabled individuals who demonstrate a financial need. These grants can be used for purchasing items such as adaptive equipment, adaptive technology, communication devices, and other disability-related items. The organization also offers grants for services, providing a comprehensive range of support for individuals with disabilities.
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Impact
July, 2024
Life Plan Of Kentucky Inc's impact is profound in the lives of disabled individuals who receive means-tested benefits. The organization provides essential services such as administering pooled special needs trusts, offering educational programs for family members of persons with disabilities, consultation about available services in Kentucky, and recreational opportunities for those with disabilities. Additionally, they conduct informational programs on Kentucky Medicaid waivers and other services at no cost to individuals with disabilities and their families. They also assist eligible individuals in establishing ABLE accounts to protect eligibility for disability-related services and benefits.
Moreover, Life Plan Of Kentucky Inc provides grants to disabled individuals in financial need for the purchase of items such as adaptive equipment, technology, communication devices, and other disability-related items and services. These initiatives contribute significantly to enhancing the quality of life for individuals with disabilities and their families while promoting inclusivity and support within the community.
This information is meant to be a general summary of Life Plan Of Kentucky 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 2023.
- Investment Income: $1,393
- Program Service Revenue: $605,845
- Gross Receipts: $621,123
Assets and Liabilities:
- Total Assets: $794,394
- Total Liabilities: $0
- Net Assets: $794,394
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ACCOUNT RETENTION FUNDS
Revenue
$333,032
MANAGEMENT FEES
Revenue
$250,686
ENROLLMENT FEES
Revenue
$20,700
ACCOUNT TERMINATION FEES
Revenue
$1,427
Organization Details
Founding Year
2011
Principal Officer
Josh Fain
Website
www.lifeplanofky.orgNTEE Category
Code: P99 - Human services
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