Love Inc of Lake County

Analysis

Love Inc of Lake County is a registered charity in United States, based in Gurnee, IL. It received its IRS tax-exemption ruling in November 1996, 30 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, Love Inc of Lake County reported income of $928k and spending of $833k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $928k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2020, when income dropped by 45%. Over the whole period it spent 72% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Love Inc of Lake County sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Islamic Association of Long Island Inc ($927k), International School of Temple Arts ($928k) and Ywam Mission Builders ($927k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% of the total. Compensation of current officers, directors and key employees was $82k (9.8% of expenses). Other salaries and wages came to $238k. At year end it held assets of $1.3m against liabilities of $1,262, net assets of $1.3m. It reported 8 employees.