Nonprofit · EIN 56-2364927
LIFE SAIL INC
Tax-exempt · CANOGA PARK, CA 91304
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $117,099 | $168,207 | -$51,108 | $145,452 | $14,606 | $130,846 |
| December 31, 2023 | 990-EZ | $193,934 | $91,835 | $102,099 | $201,954 | $20,000 | $181,954 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $117,099
Expenses
- Compensation of officers, directors and key employees
- $0
- Professional fees and payments to contractors
- $11,218
- Other expenses
- $156,989
- Program services (functional)
- $91,123
Balance sheet and other
- Total assets, start of year
- $201,954
- Total assets, end of year
- $145,452
- Total liabilities, end of year
- $14,606
- Net assets, end of year
- $130,846
- Cash, savings and investments
- $12,051
- Gross receipts
- $117,099
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Matt Schulz | President & CEO | 0 | $0 |
| Alexis Alvarado | CFO | 0 | $0 |
| Steven Schulz | COO | 0 | $0 |
| Jim Oates | Vice President | 0 | $0 |
| Eyal Ron | Officer | 0 | $0 |
| Cynthia Diaz | CFO | 0 | $0 |
990-EZ for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATT SCHULZ | PRESIDENT & | 20 | $0 |
| ALEXIS ALVARADO | CFO | 1 | $0 |
| STEVEN SCHULZ | COO | 20 | $0 |
| JIM OATES | VICE PRESIDE | 1 | $0 |
| EYAL RON | OFFICER | 1 | $0 |
| CYNTHIA DIAZ | CFO | 12 | $0 |
Address and contacts
- Address (IRS master file)
- 8811 CANOGA AVE SPC 383, CANOGA PARK, CA 91304-1509
- In care of
- % MATT SCHULZ
- Signed the 990-EZ
- Matt Schulz, President & CEO
- Phone
- (818) 424-7245
- Website
- lifesail.org
- Return prepared by
- Craig A Rothermel JD CPA Inc
California records
California keeps its own records of charities and corporations. Search them by EIN 56-2364927 or by the name LIFE SAIL INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
Advocate to the public about the sea and ship handling and foster skills in seamanship
Program accomplishments
- Advocate to the public about the sea and ship handling and to foster skills in seamanshipExpenses $91,123
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 56-2364927
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W99)
- Assets (IRS master file)
- $145,452
- Income (IRS master file)
- $117,099
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $117,099 | $168,207 | $145,452 | IRS |
| 990-EZ | December 2023 | $193,934 | $91,835 | $201,954 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-2364927).
Questions about LIFE SAIL INC
- What is the EIN of LIFE SAIL INC?
- The employer identification number (EIN) of LIFE SAIL INC is 56-2364927.
- Is LIFE SAIL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to LIFE SAIL INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LIFE SAIL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LIFE SAIL INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LIFE SAIL INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of LIFE SAIL INC?
- The 990-EZ for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does LIFE SAIL INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $117,099, expenses of $168,207 and total assets of $145,452 at year end.
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All nonprofits in CANOGA PARK · California · Public and societal benefit