We use transport, inelastic neutron scattering, and angle resolved photoemission experiments to demonstrate that the stoichiometric LiFeAs is an intrinsically electron-overdoped superconductor similar to those of the electron-overdoped NaFe1−xTxAs and BaFe2−xTxAs2 (T = Co,Ni). Furthermore, we show that although transport properties of the stoichiometric superconducting LiFeAs and Li-deficient nonsuperconducting Li1−xFeAs are different, their electronic and magnetic properties are rather similar. Therefore, the nonsuperconducting Li1−xFeAs is also in the electron overdoped regime, where small Li deficiencies near the FeAs octahedra can dramatically suppress superconductivity through the impurity scattering effect.