Lovemvmt Inc

Analysis

Lovemvmt Inc is a registered charity in United States, based in New York, NY. 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lovemvmt Inc reported income of $67k and spending of $69k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $118k to $67k (-43%), an average of -43% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lovemvmt Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include The New Deal Creative Arts Center Inc ($67k), The Womens Jewelry Association Foundation Inc ($67k) and Artists Group of Charlestown Inc ($67k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $6,046 against liabilities of $1,832, net assets of $4,214.