Love & Care Ministries

Analysis

Love & Care Ministries is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in August 1997, 29 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 & Care Ministries reported income of $1.4m and spending of $1.6m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.4m (+21%), an average of +5.0% a year. The sharpest change came in the year to December 2021, when income rose by 407%. Over the whole period it spent 54% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love & Care Ministries sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include Young Mens Christian Assn of Uniontown ($1.4m), Yard Foundation Inc ($1.4m) and Goliad County Livestock Exposition Incorporated ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $107k (6.7% of expenses). Other salaries and wages came to $480k. At year end it held assets of $7.1m against liabilities of $9,014, net assets of $7.1m.