Lovepacs

Analysis

Lovepacs is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in February 2014, 12 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 June 2023, Lovepacs reported income of $1.2m and spending of $685k, leaving 45% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $626k to $1.2m (+98%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 100%. Over the whole period it spent 44% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lovepacs sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Hope Street Food Pantry Inc ($1.2m), Platinum Care Inc ($1.2m) and Chautauqua Adult Day Care Centers Incorporated ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $499k against liabilities of $0, net assets of $499k.