Loving Hands Ministries Inc

Analysis

Loving Hands Ministries Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in April 1986, 40 years ago. 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, Loving Hands Ministries Inc reported income of $1.4m and spending of $1.5m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $975k to $1.4m (+41%), an average of +9.0% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Loving Hands Ministries Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within FL. Charities of a similar size with the same main cause include Cleveland Psychosocial Services Inc ($1.4m), Association of Pro Life Obstetricians and Gynecologists in ($1.4m) and Friends of Jemison Park ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $106k (7.1% of expenses). Other salaries and wages came to $418k. At year end it held assets of $2.0m against liabilities of $610k, net assets of $1.4m. It reported 18 employees.