Love Inc of the Tri-Cities

Analysis

Love Inc of the Tri-Cities is a registered charity in United States, based in Grand Haven, MI. It received its IRS tax-exemption ruling in April 1991, 35 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 February 2024, Love Inc of the Tri-Cities reported income of $4.2m and spending of $4.4m, spending 106% of what it took in. Across the 5 years on record, from February 2020 to February 2024, income grew from $3.1m to $4.2m (+34%), an average of +7.5% a year. The sharpest change came in the year to February 2021, when income rose by 24%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love Inc of the Tri-Cities sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MI. Charities of a similar size with the same main cause include Frisco Family Services Center ($4.2m), Prudence Crandall Center Inc ($4.2m) and Define American ($4.2m).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $97k (2.2% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $5.6m against liabilities of $96k, net assets of $5.5m. It reported 49 employees.