Hands of Love Foundation Inc

Analysis

Hands of Love Foundation Inc is a registered charity in United States, based in Potomac, MD. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Hands of Love Foundation Inc reported income of $82k and spending of $83k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $56k to $82k (+45%), an average of +45% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 97% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hands of Love Foundation Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 33rd percentile within MD. Charities of a similar size with the same main cause include National Armor and Cavalry Heritage Foundation Inc ($82k), Terrance Richardson Dreambelievework Foundation Inc ($82k) and Greenville News Holiday Sunshine Fund ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 174% of the total. At year end it held assets of $4,641 against liabilities of $0, net assets of $4,641.