Love Inc

Analysis

Love Inc is a registered charity in United States, based in Meridian, MS. It received its IRS tax-exemption ruling in June 1983, 43 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, Love Inc reported income of $211k and spending of $182k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $173k to $211k (+22%), an average of +5.2% a year. The sharpest change came in the year to December 2022, when income rose by 54%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 56th percentile within MS. Charities of a similar size with the same main cause include Clements Cuties Foundation ($211k), Ninnekah Senior Citizens Committee Inc ($211k) and Seeds of Hope Oh ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $59k (33% of expenses). Other salaries and wages came to $34k. At year end it held assets of $794k against liabilities of $1,281, net assets of $792k. It reported 7 employees.