Lore Family Ministries Inc

Analysis

Lore Family Ministries Inc is a registered charity in United States, based in Portsmouth, OH. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Lore Family Ministries Inc reported income of $338k and spending of $353k, spending 104% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $232k to $338k (+45%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 34%. Over the whole period it spent 104% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lore Family Ministries Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within OH. Charities of a similar size with the same main cause include Good News for Life Inc ($338k), Seeds of Hope Neighborhood Center ($338k) and Sure Foundation Ministries ($338k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $120k (34% of expenses). Other salaries and wages came to $30k. At year end it held assets of $52k against liabilities of $91k, net assets of -$40k. It reported 4 employees.