Love Inc of Greater Lapeer

Analysis

Love Inc of Greater Lapeer is a registered charity in United States, based in Lapeer, MI. It received its IRS tax-exemption ruling in July 2000, 26 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 Greater Lapeer reported income of $52k and spending of $68k, spending 130% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $119k to $52k (-56%), an average of -56% a year. The sharpest change came in the year to December 2023, when income dropped by 56%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Love Inc of Greater Lapeer sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 19th percentile within MI. Charities of a similar size with the same main cause include Potters House Peru ($52k), Church of the Living God the Pillar & Ground of the Truth ($52k) and Delta Homeless Ministries Inc ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 83% of the total. At year end it held assets of $48k against liabilities of $32k, net assets of $16k.