Faith Hope & Love Inc

Analysis

Faith Hope & Love Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faith Hope & Love Inc reported income of $71k and spending of $97k, spending 137% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $155k to $71k (-54%), an average of -54% a year. The sharpest change came in the year to December 2023, when income dropped by 54%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faith Hope & Love Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 25th percentile within WI. Charities of a similar size with the same main cause include Iselin First Aid Squad Inc ($71k), Roswell Community Little Theatre Inc ($71k) and Vernon Township Ambulance Squad ($71k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 31% of the total. At year end it held assets of $8,413 against liabilities of $7,759, net assets of $654.