Overview
What is Lifeboat Inc?
Lifeboat Inc, with its headquarters at 1 Caesars Palace Drive, Las Vegas, Nevada, serves as an emergency relief fund primarily for Caesars employees and their families facing various hardships, including the COVID-19 pandemic. As a nonprofit organization, Lifeboat Inc managed to grant a total of $434,827 to applicants experiencing financial difficulties in 2022, further demonstrating its commitment to supporting those in need. The organization, also known as Caesars Cares, continues to uphold its philanthropic mission.
Official website here: www.caesars.com/cares
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating.
Lifeboat Inc has earned an 83% score on Charity Navigator, reflecting a commendable level of accountability and financial health. The organization boasts an impressive program expense ratio of 99.19%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs. The charity also benefits from a fully independent board, scoring 10 out of 10 for both the majority of independent board members and board size.
However, there are notable gaps in the nonprofit's governance practices. The absence of a whistleblower policy and a document retention and destruction policy has resulted in lower scores in these areas, affecting the overall accountability rating. Additionally, the charity has not posted its tax form on its website, which may limit transparency for potential donors. Addressing these shortcomings could enhance Lifeboat Inc's overall rating and public trust in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Lifeboat Inc legitimate?
Lifeboat Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lifeboat 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:
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For more financial information, click here
Official website here: www.caesars.com/cares
What is the mission statement of Lifeboat Inc?
Lifeboat Inc, as an organization, is dedicated to providing emergency relief funds for Caesars employees and their families who are facing catastrophes or hardships. Their mission is to offer financial aid during challenging times, specifically in response to the COVID-19 pandemic and other forms of distress. In 2022, Lifeboat was able to grant $434,827 to individuals in need, reflecting their commitment to this mission.
Official website here: www.caesars.com/cares
Who is the CEO of Lifeboat Inc?
Kelley Magdaluyo is the President (Thru 11/25/2022) of Lifeboat Inc.
Official website here: www.caesars.com/cares
What is the revenue of Lifeboat Inc?
Lifeboat Inc's revenue in 2022 was $122,226.
Official website here: www.caesars.com/cares
Who are the executives of Lifeboat Inc and what are their salaries?
There 7 volunteers at Lifeboat Inc.
Here are 13 key members and their salaries:
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Official website here: www.caesars.com/cares
Where can I find the form 990 for Lifeboat Inc?
Lifeboat Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.caesars.com/cares
Learn more at the official website: www.caesars.com/cares
Mission Statement of Lifeboat Inc
Lifeboat Inc, a nonprofit organization, is dedicated to providing emergency relief to Caesars employees and their families who are facing catastrophes or hardships. Their mission is to establish an emergency relief fund, offering financial assistance to individuals who are struggling due to various circumstances, including the COVID-19 health pandemic and other unforeseen situations. In 2022, Lifeboat Inc successfully distributed grants totaling $434,827 to those in need, demonstrating their commitment to supporting their community during times of hardship.
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Impact
October, 2024
Lifeboat Inc significantly impacts the lives of Caesars employees and their families by providing crucial emergency relief during times of catastrophe and hardship. In 2022, the organization demonstrated its commitment to supporting those in need by distributing $434,827 in grants to individuals facing financial difficulties, particularly due to the ongoing ramifications of the COVID-19 pandemic. This financial assistance plays a vital role in alleviating the burdens faced by employees in Las Vegas and fosters a sense of community and resilience in challenging times. Lifeboat Inc's dedicated efforts not only offer immediate relief but also contribute to the overall well-being of those it serves, enabling them to navigate hardships with greater security and hope for the future.
This information is meant to be a general summary of Lifeboat 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.
- Gross Receipts: $122,226
Assets and Liabilities:
- Total Assets: $2,333,226
- Total Liabilities: $5,100
- Net Assets: $2,328,126
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Organization Details
Founding Year
1999
Phone
(318) 742-0711Principal Officer
Kelley Magdaluyo
Main Address
1 CAESARS PALACE DRIVE, LAS VEGAS, NV, 89109
Website
www.caesars.com/caresNTEE Category
Code: T99 - Philanthropy
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