Love Inc of Cuyhoga County

Nonprofit profile at a glance

EIN
311555636
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Independence, OH, USA
Phone
2164590302
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Reported finances

Revenue
$219,573
Expenses
$249,848
Assets
$115,457
Liabilities
$6,778

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

Leadership & pay

3 people listed

Executive titles in this filing

  • KATHY LOSETO (PRESIDENT)

People named in this filing

  • KATHY LOSETO (PRESIDENT)
  • PASTOR JAY PLUMMER (TREASURER)
  • JOHN LAHL (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Assist indigent clients in meeting personal and financial needs

What it reported doing in 2024

The organization worked with area churches to provide services to people in need in cuyahoga county, Ohio. The organization acts as a clearinghouse to help serve the basic and financial needs of over 700 people

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 88
  • Accountability: 88
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.3%; rating input score 96
  • Program expense ratio: 84.6%; rating input score 85
  • Fundraising efficiency: $22.05 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 96.3% of revenue deployed · 84.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $211K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.