Better Life Foundation

Jackson, MS
Tax-exempt since March 1993
EIN: 64-0811138

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$302k (2024)

Expenses

$48.4k (2024)

Total Assets

$740k (2024)

Total Liabilities

$1.98k (2024)

Years with multiple filings

Source: Form 990 tax filings from 2012 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$302,113

Expenses

$48,388

Net Income

$253,725

Net Assets

$738,077

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$75	0.0%
Dividends	$9,729	3.2%
Sales of Assets	$292,309	96.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$35,000	72.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$740,052
Total Liabilities	$1,975
Net Assets	$738,077

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on May 15, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2023

Revenue

$307,659

Expenses

$2,783

Net Income

$304,876

Net Assets

$484,352

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$205,309	66.7%
Interest Revenue	$23	0.0%
Dividends	$6,709	2.2%
Sales of Assets	$95,224	31.0%
Other Income	$394	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$486,327
Total Liabilities	$1,975
Net Assets	$484,352

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on May 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Jan.
2023

Revenue

$28,380

Expenses

$31,109

Net Income

-$2,729

Net Assets

$297,152

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$500	1.8%
Interest Revenue	$8	0.0%
Dividends	$5,357	18.9%
Sales of Assets	$22,515	79.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$25,500	82.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$299,127
Total Liabilities	$1,975
Net Assets	$297,152

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 14, 2023

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Jan.
2022

Revenue

$28,804

Expenses

$30,469

Net Income

-$1,665

Net Assets

$299,881

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,904	20.5%
Sales of Assets	$22,374	77.7%
Other Income	$526	1.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$25,000	82.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$301,856
Total Liabilities	$1,975
Net Assets	$299,881

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 1, 2022

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Jan.
2021

Revenue

$4,805

Expenses

$25,356

Net Income

-$20,551

Net Assets

$301,547

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2	0.0%
Dividends	$5,518	> 100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$20,000	78.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$303,522
Total Liabilities	$1,975
Net Assets	$301,547

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 4, 2021

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Jan.
2020

Revenue

$23,399

Expenses

$16,596

Net Income

$6,803

Net Assets

$322,097

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$65	0.3%
Dividends	$6,743	28.8%
Sales of Assets	$16,591	70.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$10,000	60.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$324,072
Total Liabilities	$1,975
Net Assets	$322,097

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on July 14, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2019

Revenue

$27,705

Expenses

$63,538

Net Income

-$35,833

Net Assets

$315,295

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$23	0.1%
Dividends	$5,880	21.2%
Sales of Assets	$21,802	78.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$56,000	88.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$317,270
Total Liabilities	$1,975
Net Assets	$315,295

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on May 2, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2018

Revenue

$20,412

Expenses

$15,956

Net Income

$4,456

Net Assets

$351,127

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$34	0.2%
Dividends	$5,874	28.8%
Sales of Assets	$12,821	62.8%
Other Income	$1,683	8.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$10,500	65.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$353,102
Total Liabilities	$1,975
Net Assets	$351,127

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 12, 2018

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Jan.
2017

Revenue

$4,662

Expenses

$10,404

Net Income

-$5,742

Net Assets

$346,671

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$64	1.4%
Dividends	$5,905	> 100%
Sales of Assets	-$1,915
Other Income	$608	13.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,000	48.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$348,646
Total Liabilities	$1,975
Net Assets	$346,671

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on May 30, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2016

Revenue

-$14,769

Expenses

$5,616

Net Income

-$20,385

Net Assets

$352,413

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20
Dividends	$5,234
Sales of Assets	-$20,023
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$354,388
Total Liabilities	$1,975
Net Assets	$352,413

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on Oct. 31, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2015

Revenue

$78,340

Expenses

$214,220

Net Income

-$135,880

Net Assets

$374,362

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$37	0.0%
Dividends	$7,868	10.0%
Sales of Assets	$71,345	91.1%
Other Income	-$910

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$207,500	96.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$374,362
Total Liabilities	$0
Net Assets	$374,362

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 11, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2014

Revenue

$92,547

Expenses

$47,114

Net Income

$45,433

Net Assets

$508,689

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$25	0.0%
Dividends	$19,399	21.0%
Sales of Assets	$74,351	80.3%
Other Income	-$1,228

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$40,000	84.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$508,689
Total Liabilities	$0
Net Assets	$508,689

Compensation

Key Employees and Officers	Compensation	Other
Vaughan W Mcrae (President)	$0	$0
Nora Frances Mcrae (Director)	$0	$0
Douglas Vaughan Mcrae (Director)	$0	$0

990-PF

Filed on June 16, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2013

Revenue

$75,635

Expenses

$20,845

Net Income

$54,790

Net Assets

$462,232

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$105	0.1%
Interest Revenue	$843	1.1%
Dividends	$22,518	29.8%
Sales of Assets	$53,609	70.9%
Other Income	-$1,440

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,600	70.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$462,233
Total Liabilities	$1
Net Assets	$462,232

990-PF

Filed on Jan. 10, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Jan.
2012

Revenue

$28,772

Expenses

$28,582

Net Income

$190

Net Assets

$467,410

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$6	0.0%
Dividends	$23,783	82.7%
Sales of Assets	$8,117	28.2%
Other Income	-$3,134

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$24,206	84.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$467,411
Total Liabilities	$1
Net Assets	$467,410

990-PF

Primary tax return for a private foundation's activities, finances, and governance

Primary tax return for a private foundation's activities, finances, and governance

PDF

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Better Life Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $302k (2024)

Expenses $48.4k (2024)

Total Assets $740k (2024)

Total Liabilities $1.98k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Jan. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$302k (2024)

Expenses

$48.4k (2024)

Total Assets

$740k (2024)

Total Liabilities

$1.98k (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Jan.
2023

Fiscal Year Ending Jan.
2022

Fiscal Year Ending Jan.
2021

Fiscal Year Ending Jan.
2020

Fiscal Year Ending Jan.
2019

Fiscal Year Ending Jan.
2018

Fiscal Year Ending Jan.
2017

Fiscal Year Ending Jan.
2016

Fiscal Year Ending Jan.
2015

Fiscal Year Ending Jan.
2014

Fiscal Year Ending Jan.
2013

Fiscal Year Ending Jan.
2012

Fiscal Year Ending Jan.
2011

Fiscal Year Ending Jan.
2010

Fiscal Year Ending Jan.
2009

Fiscal Year Ending Jan.
2008

Fiscal Year Ending Jan.
2007

Fiscal Year Ending Jan.
2006

Fiscal Year Ending Jan.
2005

Fiscal Year Ending Jan.
2004

Fiscal Year Ending Jan.
2003

Fiscal Year Ending Jan.
2002