Holy Love Ministries

Analysis

Holy Love Ministries is a registered charity in United States, based in N Ridgeville, OH. It received its IRS tax-exemption ruling in June 1991, 35 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, Holy Love Ministries reported income of $2.3m and spending of $2.4m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.3m (+66%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 146% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Holy Love Ministries sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within OH. Charities of a similar size with the same main cause include Tetelestai Ministries Inc ($2.3m), Touching Lives Inc ($2.3m) and Legacy Trust of Marianna Florida ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $59k (2.5% of expenses). Other salaries and wages came to $516k. At year end it held assets of $20.1m against liabilities of $0, net assets of $20.1m. It reported 19 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.