Love Now Media Inc

Analysis

Love Now Media Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Love Now Media Inc reported income of $892k and spending of $795k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $374k to $892k (+138%), an average of +138% a year. The sharpest change came in the year to December 2023, when income rose by 138%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Love Now Media Inc sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within PA. Charities of a similar size with the same main cause include Awood Center ($892k), Chesapeake Tri-Association Inc ($893k) and Minnesota Music Educators Association ($891k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $106k (13% of expenses). Other salaries and wages came to $236k. It paid $5,000 in professional fundraising fees. At year end it held assets of $112k against liabilities of $33k, net assets of $79k.