Love Inc of Newaygo County

Analysis

Love Inc of Newaygo County is a registered charity in United States, based in Grant, MI. It received its IRS tax-exemption ruling in April 1993, 33 years ago. 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 Newaygo County reported income of $1.9m and spending of $1.5m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.9m (+48%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Love Inc of Newaygo County sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Traverse Bay Childrens Advocacy Center Inc ($1.9m), Roever Evangelistic Association Inc ($1.9m) and Habitat for Humanity International Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $70k (4.6% of expenses). Other salaries and wages came to $400k. At year end it held assets of $2.2m against liabilities of $20k, net assets of $2.2m. It reported 16 employees.