2024-11-14T11:36:03-05:00 2023-12-31 050519103 FARMER FIRST & VINING PC CPA'S 6 STATE ST WARREN RI 02885 990 2023-01-01 454737489 LIFE ASSET INC LIFE 2027090652 1640 COLUMBIA ROAD NW WASHINGTON DC 20009 MARKUS LARSSON EXECUTIVE DIRECTOR 2027090652 2024-11-13 false ROBERT FIRST CPA P01233202 4012471040 2024-11-13 2023 2024-10-15 13:58:12Z MARKUS LARSSON 1640 COLUMBIA ROAD NW WASHINGTON DC 20009 2115914 false X WWW.LIFEASSET.ORG X 2011 DC THE MISSION OF LIFE ASSET IS TO HELP ALLEVIATE POVERTY IN THE GREATER WASHINGTON, DC AREA, BY EMPOWERING PEOPLE THROUGH AFFORDABLE FINANCIAL PRODUCTS, SERVICES, AND EDUCATION, THEREBY PROMOTING SELF-HELP AND SELF- RESPECT AND EXPANDING SOCIAL AND ECONOMIC OPPORTUNITIES FOR LOWER INCOME RESIDENTS. 5 4 8 20 0 2162375 1945587 180603 170199 57 -29021 27144 0 2370179 2086765 0 0 657487 687576 0 133763 644310 649435 1301797 1337011 1068382 749754 6927009 9442411 2234048 3999696 4692961 5442715 X THE MISSION OF LIFE ASSET IS TO HELP ALLEVIATE POVERTY IN THE GREATER WASHINGTON, DC AREA, BY EMPOWERING PEOPLE THROUGH AFFORDABLE FINANCIAL PRODUCTS, SERVICES, AND EDUCATION, THEREBY PROMOTING SELF-HELP AND SELF- RESPECT AND EXPANDING SOCIAL AND ECONOMIC OPPORTUNITIES FOR LOWER INCOME RESIDENTS. false false 1042443 PROVIDED BUSINESS TRAINING TO OVER 4,500 LOW-INCOME ENTREPRENEURS DURING 2023; ORIGINATED 756 MICROLOANS TO LOW-INCOME ENTREPRENEURS DURING 2023 WITH A TOTAL OF 1,201 ACTIVE LOANS AS OF DECEMBER 31, 2023 TO HELP THEM START/EXPAND THEIR OWN BUSINESSES. 1042443 true true false false false false false false false false true false false true false false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 79 0 true 8 true false false false false false false false false false false false false false false X 5 4 false false false false false false false true true false false true true true true true true false false false DC X MEREDITH HAUSSLER 3016218520 1705 CATTAIL MEADOWS DRIVE WOODBINE MD 21797 MARKUS LARSSON EXECUTIVE DI 40.00 X X 152725 0 0 TERRY FLOOD DIRECTOR 1.00 X 0 0 0 OLIVE IDEHEN BOARD CHAIR 1.00 X X 0 0 0 ALFONSO PEARSON TREASURER 1.00 X X 0 0 0 JAIME QUIROS SECRETARY 1.00 X X 0 0 0 152725 1 false true false 1717154 228433 650 1945587 LOAN INTEREST INCOME 158374 158374 RECOVERY OF BAD DEBTS 8234 8234 LOAN FEE INCOME 3591 3591 170199 128 128 29149 -29149 -29149 -29149 2086765 141050 128 152725 129816 7636 15273 467447 425238 23373 18836 23786 21931 883 972 43618 38850 2270 2498 21841 15679 3816 2346 28723 24070 2623 2030 1353 1353 4339 4339 2755 2341 138 276 21943 18652 1097 2194 CONSULTANTS & PROFESSIONA 275948 123207 65741 87000 PROIVISION FOR BAD DEBTS 192090 192090 PENALTIES AND FINES 51034 51034 DUES AND SUBSCRIPTIONS 18737 15926 937 1874 30672 28951 1257 464 1337011 1042443 160805 133763 3125562 6348289 1585210 338080 9803 21483 9867 8620 24897 22659 34142 2238 2162425 2723701 6927009 9442411 122936 101170 1315551 2358731 795561 1539795 2234048 3999696 X 4652961 5442715 40000 4692961 5442715 6927009 9442411 749754 X false true X true true true X 985286 1559666 2822583 2162375 1945587 9475497 985286 1559666 2822583 2162375 1945587 9475497 9475497 374 347 89 57 128 995 2110 413 27144 29667 9506159 765754 0.99680 0.99540 X PART II, LINE 10 MISCELLANEOUS INCOME 2,523 RECOVERY OF BAD DEBT INC 27,144 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24897 22659 2238 2238 LOAN RECEIVABLE - LOAN FUND 2720401 SECURITY DEPOSITS 3300 2723701 2086765 2086765 2086765 1337011 1337011 1337011 false false false false false false false false false MARKUS LARSSON EXECUTIVE DIRECTOR 152725 152725 FORM 990 - ORGANIZATION'S MISSION THE MISSION OF LIFE ASSET IS TO HELP ALLEVIATE POVERTY IN THE GREATER WASHINGTON, DC AREA, BY EMPOWERING PEOPLE THROUGH AFFORDABLE FINANCIAL PRODUCTS, SERVICES, AND EDUCATION, THEREBY PROMOTING SELF-HELP AND SELF- RESPECT AND EXPANDING SOCIAL AND ECONOMIC OPPORTUNITIES FOR LOWER INCOME RESIDENTS. FORM 990, PAGE 6, PART VI, LINE 11B THE VARIOUS BOARD MEMBERS RECEIVE AN ELECTRONIC VERSION OF THE TAX RETURN BEFORE ITS FILED AND IS VOTED ON ACCORDINGLY FOR ITS ACCEPTANCE. FORM 990, PAGE 6, PART VI, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY B. HAS READ AND UNDERSTANDS THE POLICY FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE UPON REQUEST.