Love Inc of South Bay

Analysis

Love Inc of South Bay is a registered charity in United States, based in San Pedro, CA. It received its IRS tax-exemption ruling in May 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 South Bay reported income of $89k and spending of $121k, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $130k to $89k (-31%), an average of -8.9% a year. The sharpest change came in the year to December 2021, when income dropped by 46%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Love Inc of South Bay sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 36th percentile within CA. Charities of a similar size with the same main cause include Bongolo Friends Inc ($89k), Ramsey Jr Lacrosse Association Inc ($90k) and Zeta Sigma Foundation Inc ($89k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 3.7% of the total. Other salaries and wages came to $48k. At year end it held assets of $99k against liabilities of -$4,968, net assets of $104k. It reported 3 employees.