Loveway Incorporated

Analysis

Loveway Incorporated is a registered charity in United States, based in Middlebury, IN. It received its IRS tax-exemption ruling in September 1974, 52 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Loveway Incorporated reported income of $1.1m and spending of $1.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $703k to $1.1m (+59%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 104%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Loveway Incorporated sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within IN. Charities of a similar size with the same main cause include Chicago Coalition to Save Our Mental Health Centers ($1.1m), Blue Cross and Blue Shield of Michigan Foundation ($1.1m) and Tower Industry Family Support Charitable Foundation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $73k (7.0% of expenses). Other salaries and wages came to $438k. At year end it held assets of $3.0m against liabilities of $3,095, net assets of $3.0m. It reported 27 employees.