Locs Incorporated

Analysis

Locs Incorporated is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Locs Incorporated reported income of $631k and spending of $571k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $341k to $631k (+85%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 57%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Locs Incorporated sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within OH. Charities of a similar size with the same main cause include Jewish Senior Life ($630k), Frontline Ministries International Inc ($631k) and Teen How Taoist Temple ($629k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. At year end it held assets of $336k against liabilities of $0, net assets of $336k.