Love Inc of Lorain County

Analysis

Love Inc of Lorain County is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in February 1990, 36 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 Lorain County reported income of $262k and spending of $265k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $206k to $262k (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2020, when income rose by 102%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love Inc of Lorain County sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within OH. Charities of a similar size with the same main cause include Options in Aging ($262k), Professional Christian Counseling Services ($262k) and Jason Ards Christmas Crusade Inc ($262k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $57k (22% of expenses). Other salaries and wages came to $70k. At year end it held assets of $252k against liabilities of $0, net assets of $252k. It reported 5 employees.