Foundation for Lovejoy Schools

Analysis

Foundation for Lovejoy Schools is a registered charity in United States, based in Allen, TX. It received its IRS tax-exemption ruling in June 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Foundation for Lovejoy Schools reported income of $845k and spending of $819k, spending 97% of its income. Across the 5 years on record, from August 2019 to June 2023, income grew from $614k to $845k (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Lovejoy Schools sits at the 74th percentile: it is larger than about 74% 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 Friendship Access to Clinical Therapeutic Services ($845k), Greater Palm Springs Tourism Foundation ($845k) and Guidance College Inc ($844k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% of the total. At year end it held assets of $1.2m against liabilities of $582k, net assets of $638k.