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EIN 45-4737489

Life Asset

IRS 501(c) type
501(c)(3)
Num. employees
8
City
Washington
State
District of Columbia
Year formed
2011
Most recent tax filings
2022-12-01
NTEE code, primary
P50: Personal Social Services
Description
Life Asset empowers people in the Greater Washington, DC area to alleviate poverty by offering affordable financial products, services, and education. They promote self-help and self-respect while expanding social and economic opportunities. During 2022, Life Asset provided business training to over 4,500 low-income entrepreneurs and originated 672 microloans to help them start or expand their own businesses. As of December 31, 2022, they have a total of 970 active loans.
Total revenues
$2,370,179
2022
Total expenses
$1,301,797
2022
Total assets
$6,927,009
2022
Num. employees
8
2022

Program areas at Life Asset

Provided business training to over 4,500 low-income entrepreneurs during 2022; originated 672 microloans to low-income entrepreneurs during 2022 with a total of 970 active loans as of december 31, 2022 to help them start/expand their own businesses.

Who funds Life Asset

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Greater Washington Community FoundationGeneral Support$35,000
Greater Washington Community FoundationGeneral Support$35,000
TD Charitable FoundationLife Assets Microloan and Business Training for Low-Income Entrepreneurs$10,000
...and 3 more grants received

Personnel at Life Asset

NameTitleCompensation
Markus LarssonExecutive Director$140,400
Jaime QuirosSecretary$0
Olive IdehenBoard Chair / Board Member$0
Terry FloodTreasurer$0
James QuirosSecretary$0
...and 3 more key personnel

Financials for Life Asset

RevenuesFYE 12/2022
Total grants, contributions, etc.$2,162,375
Program services$180,603
Investment income and dividends$57
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$27,144
Total revenues$2,370,179

Form 990s for Life Asset

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-11-15990View PDF
2020-122021-11-03990View PDF
2019-122021-04-02990View PDF
2018-122020-06-05990View PDF
...and 6 more Form 990s

Organizations like Life Asset

OrganizationLocationRevenue
Nixyaawii Community Financial ServicesPendleton, OR$1,539,028
Community Financial Resources (CFR)Oakland, CA$1,015,485
Prosperity ConnectionSaint Louis, MO$1,205,723
Lending Link Credit SolutionsOmaha, NE$1,638,241
Hebrew Free Loan Society (HFLS)New York, NY$7,309,869
Sylacauga Alliance for Family EnhancementSylacauga, AL$8,080,647
Ladder UpChicago, IL$2,870,525
Rise FoundationMemphis, TN$1,286,459
Community Transportation NetworkFort Wayne, IN$2,385,815
Senior Transportation Connection (STC)Cleveland, OH$3,650,048
Data update history
August 25, 2024
Received grants
Identified 1 new grant, including a grant for $35,000 from Greater Washington Community Foundation
May 19, 2024
Received grants
Identified 2 new grant, including a grant for $35,000 from Greater Washington Community Foundation
January 15, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 1, 2024
Used new vendors
Identified 1 new vendor, including
December 26, 2023
Received grants
Identified 2 new grant, including a grant for $10,000 from Truist Foundation
Nonprofit Types
Human service organizationsFamily service centersCharities
Issues
Human services
Characteristics
Receives government fundingGala fundraisersTax deductible donationsAccepts online donations
General information
Address
1640 Columbia Rd NW
Washington, DC 20009
Metro area
Washington-Arlington-Alexandria, DC-VA-MD-WV
County
District of Columbia, DC
Website URL
lifeasset.org/ 
Phone
(202) 709-0652
IRS details
EIN
45-4737489
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2011
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
P50: Personal Social Services
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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