Love BLDG

Analysis

Love BLDG is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Love BLDG reported income of $268k and spending of $515k, spending 192% of what it took in. The sharpest change came in the year to December 2023, when income dropped by 69%. Over the whole period it spent 92% 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 BLDG sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MI. Charities of a similar size with the same main cause include Entrada Institute Inc ($268k), Nomadstudio Inc ($268k) and World Stage Performance Gallery ($268k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $153k (30% of expenses). Other salaries and wages came to $84k. It paid $250 in professional fundraising fees. At year end it held assets of $8.8m against liabilities of $8.7m, net assets of $94k.