Foundation of Love USA Inc

Analysis

Foundation of Love USA Inc is a registered charity in United States, based in Woodside, NY. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Foundation of Love USA Inc reported income of $254k and spending of $301k, spending 118% of what it took in. Across the 4 years on record, from December 2018 to December 2021, income grew from $134k to $254k (+89%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 190%. Over the whole period it spent 99% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Foundation of Love USA Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Ronnie Hill Ministries ($254k), I S K Ga Inc ($254k) and Harry Seigle Foundation ($254k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $22k (7.2% of expenses). At year end it held assets of $1.2m against liabilities of $286k, net assets of $894k.