Gifts of Love Inc

Analysis

Gifts of Love Inc is a registered charity in United States, based in Avon, CT. It received its IRS tax-exemption ruling in February 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gifts of Love Inc reported income of $1.3m and spending of $1.1m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $1.3m (-36%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 46%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gifts of Love Inc sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Culpepper Garden II Inc ($1.3m), Caldwell County Yokefellow Inc ($1.3m) and Impact Hope ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $94k (8.3% of expenses). Other salaries and wages came to $266k. At year end it held assets of $1.4m against liabilities of $128k, net assets of $1.3m. It reported 9 employees.