Love Out Loud

Analysis

Love Out Loud is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in August 2015, 11 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 December 2023, Love Out Loud reported income of $1.2m and spending of $1.3m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.2m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love Out Loud 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 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Abc-123 Inc ($1.2m), Avenues to Independence Foundation ($1.2m) and National Alliance for Childrens Grief ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Other salaries and wages came to $499k. At year end it held assets of $1.5m against liabilities of $52k, net assets of $1.4m. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.