Love Inc

Nonprofit profile at a glance

EIN
341633609
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Elyria, OH, USA
Phone
4403225689
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance
Affiliation
Christianity

Official website

Reported finances

Revenue
$278,467
Expenses
$269,716
Assets
$260,283
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • JOSEPH PANICO (PRESIDENT)

Highest reported compensation

  • JOHN SCHULZ (EXECUTIVE DI): $4,992 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of love in the name of christ is to mobilize and facilitate the church to transform lives and the communities in the name of jesus christ.

What it reported doing in 2024

Love inc's mission is to mobilize local churches to transform lives and communities by meeting needs in the name of christ. We use a clearinghouse model to provide goods and volunteer services in direct combination with loving faith communitites that offer emotional/spiritual support and ongoing accountibility for transformational change. When needs are urgent, we work with our partners and network churches to provide assistance through love ops (e.g.: clothing, food, baby needs, and cleaning supplies distributions) and crisis funds (e.g.: matched funds for eligible financial needs).

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 94% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.7%; rating input score 71
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $7.27 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.1%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 17.3% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 70.7% of revenue deployed · 72.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $195K in reported program spending
  • Leadership: top reported pay $5K · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.