Love Well Spent Inc

Nonprofit profile at a glance

EIN
820747861
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Staten Island, NY, USA
Phone
3478577757
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Reported finances

Revenue
$95,033
Expenses
$100,056
Assets
$3,435

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

Leadership & pay

1 person listed

Executive titles in this filing

  • Modademu Akindude (Executive Director)

People named in this filing

  • Modademu Akindude (Executive Director)

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

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

Overview

Mission

Love Well Spent supports and empowers learners, educators and families by providing access to resources and toools that transform learning with focus on education equity and service-learning

What it reported doing in 2024

Services for students with special needs, the Executive Director (ED) provided tailored education services forstudents with special needs, including on-on-one tutoring, learning assesments and homeschooling support strategies. over 50 students and their famialies were supported during 2024.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 82
  • Sustainability: 19
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 68.1%; rating input score 68

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -5.3%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 65.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 26.3% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 36.2% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -108% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 68.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $68K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.