Live the Life Inc is a private foundation focused on religion, based in Forest, VA. IRS filing data is available from 2020 through 2023. As of 2023, the organization holds $1.0M in total assets. In 2023, it awarded 2 grants totaling $30K.
Key facts about Live the Life Inc
In short: Live the Life Inc gave $30K across 2 grants in 2023 (avg $15K), mostly in Virginia. Source: 2023 IRS Form 990-PF.
- EIN
- 54-2041546
- Latest 990 filing
- Form 990-PF, 2023
- Annual giving (2023)
- $30,000
- Grants made (2023)
- 2
- Average grant
- $15,000
- Median grant
- $15,000
- Total assets
- $1,005,775
- Primary geography
- Virginia (100% of itemized 2023 grant dollars)
Data from IRS Form 990-PF, 2023; updated September 2026.
Financial Overview
From 2023 IRS Form 990-PF · View filing
Total Assets
$1.0M
+77.3% YoY
Annual Giving
$30K
+476.4% YoY
Grant Count
2
-33.3% YoY
Avg Grant Size
$15K
+764.6% YoY
Under IRS private-foundation payout rules, Live the Life Inc reported a distributable amount of $37K for 2023 — the minimum it must pay out in qualifying distributions.
How Live the Life Inc gives
- Giving held roughly steady from 2020 to 2023 (+0%). Method
- In 2023 it paid out 169% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2023 grant dollars across all 2 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $5K (2022) to $30K (2023). In 2023 it made 2 grants totaling $30K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2023
The largest 2023 recipient was Straight Street ($25K). Together the top 2 received $30K.
Grant Size Distribution
7 grants across all recorded years
The most common grant size was under $50K: 7 grants of 7 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Straight Street Roanoke, VA | troubled youth organization | $25,000 |
| My Brothers Crossing Boones Mill, VA | Gospel teaching ministry focused on forgiveness | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,005,775 | $567,406 | $586,679 |
| Revenue | $549,103 | $45,872 | $-206,520 |
| Expenses | $111,741 | $64,219 | $72,745 |
| Qualifying Distributions | $61,873 | $17,591 | $57,028 |
| Distributable Amount | $36,626 | $31,061 | $29,033 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2023
Leadership & Key People
Officers and directors from IRS filings
Live the Life Inc is led by Barry Armstrong, President on every filing since 2020; all 2 officers listed in 2023 are compensated.
Officers on the 2023 filing
Barry Armstrong
President
On filings since 2020
20 hrs/week
$29K (2020) → $30K (2023)
Linda Armstrong
Secretary
On filings since 2020
20 hrs/week
$13K (2020) → $15K (2023)
Former officers (1)
- Former: Alex Smith (2020–2021) — Treasurer
Data from IRS Form 990 filings, 2020–2023. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2023 IRS filing
The highest reported compensation on the 2023 filing was $30K, to Barry Armstrong (President). 2 officers or directors reported compensation on that filing.
Frequently asked questions about Live the Life Inc
How much does Live the Life Inc give each year?
Live the Life Inc gave $30K across 2 grants in 2023, according to its 2023 IRS Form 990-PF. In 2022 it gave $5K across 3 grants.
How large is Live the Life Inc?
Live the Life Inc reported $1.0M in total assets on its 2023 IRS Form 990-PF. It paid out $62K in qualifying distributions that year, against a required minimum of $37K (roughly 5% of its investment assets).
What is Live the Life Inc?
Live the Life Inc is a private foundation focused on religion, based in Forest, VA. It holds $1.0M in total assets as of 2023.
Where does Live the Life Inc operate?
Live the Life Inc has awarded grants in Virginia.
What is Live the Life Inc's EIN?
Live the Life Inc's EIN (Employer Identification Number) is 54-2041546. IRS Form 990 filing data is available on this page for 2020–2023.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Live the Life Inc by hand.
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