Love Inc of Brevard Inc

Analysis

Love Inc of Brevard Inc is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Brevard Inc reported income of $1.8m and spending of $1.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $883k to $1.8m (+109%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Love Inc of Brevard Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Marshall County Community ($1.8m), Houston Health Foundation ($1.9m) and The Marion Institute Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $73k (4.3% of expenses). Other salaries and wages came to $511k. At year end it held assets of $659k against liabilities of $210k, net assets of $449k. It reported 24 employees.