Love Inc of Douglas County Lakesarea

Analysis

Love Inc of Douglas County Lakesarea is a registered charity in United States, based in Alexandria, MN. It received its IRS tax-exemption ruling in December 2007, 19 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, Love Inc of Douglas County Lakesarea reported income of $234k and spending of $245k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $222k to $234k (+5.6%), an average of +1.4% a year. The sharpest change came in the year to December 2020, when income rose by 20%. 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, Love Inc of Douglas County Lakesarea sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include We Care Charity Inc ($234k), McKenzie County Food Pantry ($234k) and Notre Dame Family Services ($234k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $69k (28% of expenses). Other salaries and wages came to $2,517. At year end it held assets of $441k against liabilities of $5,564, net assets of $435k. It reported 6 employees.