Loam Media Inc

Analysis

Loam Media Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in August 1960, 66 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Loam Media Inc reported income of $6.8m and spending of $12.1m, spending 178% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $7.2m to $6.8m (-5.4%), an average of -1.4% a year. The sharpest change came in the year to December 2020, when income rose by 619%. Over the whole period it spent 62% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Loam Media Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within TN. Charities of a similar size with the same main cause include Kodiak Island Health Care Foundation ($6.8m), Barnabas Fund ($6.8m) and The Colson Center for Christian Worldview ($6.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 132% of the total. Compensation of current officers, directors and key employees was $229k (1.9% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $99.2m against liabilities of $10.9m, net assets of $88.4m. It reported 48 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.