LIFE ASSET INC

WASHINGTON, DC | District of Columbia
Community Services
LIFE ASSET INC
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

LIFE ASSET INC
45-4737489
2448 18TH STREET NW 1ST FLOOR
WASHINGTON, DC 20009
District of Columbia

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Community Services
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
P51

P - Human Services

Financial Counseling

Organizations that provide advice and guidance for people who need assistance in obtaining credit, obtaining or correcting information in their credit records, reducing their debt burden or managing their financial resources more effectively.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
624190
Other Individual and Family Services

CRA Alignment

CRA Category info
Community Services
Social services and other support for low- and moderate-income, homeless or at-risk individuals.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
12/13/2019
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2020 $500,000 CDFI Financial Assistance open_in_new Life Asset, Inc.
2021 $500,000 CDFI Financial Assistance open_in_new Life Asset, Inc.
2021 $1,826,265 CDFI Rapid Response Program (COVID-19) open_in_new Life Asset, Inc.

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$9.4M
Revenue
$2.1M
Assets
$2.1M

IRS Business Master File Details info

As of March 2025
Exempt Ruling Date info
2013-02
Deductibility Status info
Deductible
Last Tax Filing info
2023
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of March 2025
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through December 2024
Tax period ending in
2022-12
PDF
990
E-File
990
XML
990
Tax period ending in
2021-12
E-File
990
XML
990
Tax period ending in
2020-12
E-File
990
XML
990
Tax period ending in
2019-12
PDF
990
Tax period ending in
2018-12
PDF
990
E-File
990
XML
990
Tax period ending in
2017-12
PDF
990
E-File
990
XML
990
Tax period ending in
2016-12
PDF
990
E-File
990
XML
990
Tax period ending in
2015-12
PDF
990
E-File
990
XML
990

Nonprofit Location

Physical Address info
2448 18TH STREET NW 1ST FLOOR
WASHINGTON, DC 20009
District of Columbia
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
47764
MSA/MD info
11
State info
001
County info
0040.02
Tract info
Upper
Income Level info
Core-Based Statistical Area info
47900 - Washington-Arlington-Alexandria, DC-VA-MD-WV
Combined Statistical Area info
548 - Washington-Baltimore-Arlington, DC-MD-VA-WV-PA
Metropolitan Division info
47764 - Washington, DC-MD
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 27.86%
FFIEC Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0040.02 District of Columbia
Population
Total Population 3,291 672,079
Total Households 2,079 321,556
Income
Median Income* $228,393 $106,287
Median Family Income (2024 FFIEC est.) $128,300 $150,100
Tract Income Percentage 213.81% N/A
Below Poverty Level 3.4% 14.5%
Unemployment Level 3.1% 6.5%
Housing
Total Housing Units 2,301 356,101
Total Owner-Occupied Units 34.1% 41.1%
Total Renter-Occupied Units 56.2% 58.9%
Total Vacant Units 9.6% 8.3%
* Census Tract Median Income based on 2020 Tract Median Family Income as reported in the 2024 FFIEC Census Flat File. County Income based on Median Household Income as reported in the 2023 American Community Survey.
View more than 200 performance context data points for this county now.

Management

6
Total Voting Members
in Governing Body info
5
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Markus Larsson
(202) 709-0652
Principal Officer info
Markus Larsson
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2021-12.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.