Locks of Love Inc

Analysis

Locks of Love Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 November 2023, Locks of Love Inc reported income of $846k and spending of $704k, spending 83% of its income. Across the 5 years on record, from November 2019 to November 2023, income grew from $640k to $846k (+32%), an average of +7.2% a year. The sharpest change came in the year to November 2021, when income rose by 85%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Locks of Love Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include Vision Is Priceless Council Inc ($846k), Healthcare Alternatives ($847k) and Chautauqua County Health Network Inc ($846k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 34% and program service revenue 40% of the total. Other salaries and wages came to $235k. At year end it held assets of $7.3m against liabilities of $4,321, net assets of $7.3m. It reported 4 employees.