Luv Michael Inc

Analysis

Luv Michael Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Luv Michael Inc reported income of $1.8m and spending of $2.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.8m (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Luv Michael Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Latino Memphis Inc ($1.8m), Rosalynn Carter Institute for Caregivers Inc ($1.8m) and Transitional Housing Services Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Other salaries and wages came to $235k. It paid $43k in professional fundraising fees. At year end it held assets of $1.8m against liabilities of $1.7m, net assets of $18k. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.