Loop It Up Savannah

Analysis

Loop It Up Savannah is a registered charity in United States, based in Savannah, GA. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Loop It Up Savannah reported income of $558k and spending of $544k, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $230k to $558k (+143%), an average of +34% a year. The sharpest change came in the year to December 2021, when income rose by 59%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Loop It Up Savannah sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within GA. Charities of a similar size with the same main cause include Preservation Austin ($557k), Claremont Opera House Inc ($558k) and Shelby County Arts Council ($557k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $74k (14% of expenses). Other salaries and wages came to $154k. At year end it held assets of $64k against liabilities of $0, net assets of $64k. It reported 9 employees.