Lovem Ministries Inc

Analysis

Lovem Ministries Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Lovem Ministries Inc reported income of $802k and spending of $882k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $658k to $802k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 123%. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lovem Ministries Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within TX. Charities of a similar size with the same main cause include Sacred Heart Lawrence ($802k), Wycliffe Bible Translators International Inc ($802k) and Bais Vaad Lechachomim Yerishulayim Inc ($801k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $62k. At year end it held assets of $193k against liabilities of $0, net assets of $193k.