Bags of Love Inc

Analysis

Bags of Love Inc is a registered charity in United States, based in Pasadena, MD. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover food, agriculture and nutrition, 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 December 2023, Bags of Love Inc reported income of $172k and spending of $107k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $63k to $172k (+175%), an average of +29% a year. The sharpest change came in the year to December 2022, when income rose by 20519600%. Over the whole period it spent 61% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bags of Love Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within MD. Charities of a similar size with the same main cause include William and Janet Strickler Nonprofit Center ($172k), Redstone Thrift Shop ($172k) and Furnas County Agricultural Society ($172k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $215k against liabilities of $0, net assets of $215k.