Gifts Of Love Inc
- Assets
- $1.4m
- Revenue
- $1.3m
- Investments
- $576.0k
- Employees
- 9
- Location
- Avon, CT
- Founding
- 02/1991
- Data as of
- 12/2023
- EIN
- 06-1309318
Organization Overview
Gifts Of Love Inc is located in Avon, CT. The organization was established in 1991. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2023, Gifts Of Love Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gifts Of Love Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Gifts Of Love Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GIFTS OF LOVE HELPS MEET THE BASIC NEEDS OF INDIVIDUALS AND FAMILIES IN THE GREATER HARTFORD AREA EXPERIENCING A SHORT-TERM FINANCIAL CRISIS SO THEY CAN RETURN TO SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
BASIC NEEDS SERVICES - CLIENTS PERSONALLY CHOOSE FROM A SELECTIONOF MEAT, FRESH SEASONAL PRODUCE, BAKED GOODS, NON-PERISHABLEFOODS, PAPER GOODS AND PERSONAL HYGIENE ITEMS ONCE PER MONTH.PROVISION OF FOOD ALSO INCLUDES EDUCATION ABOUT FOOD NUTRITION BYGENTLY GUIDING CLIENTS TOWARDS THE 'BETTER FOR YOU' OPTIONS TOIMPROVE OVERALL HEALTH AND WELL BEING. CLIENTS CAN ALSO CHOOSEIN-SEASON CLOTHING FOR THEIR ENTIRE FAMILY, AS WELL AS BEDLINENS, TOWELS, CURTAINS, POTS, PANS, DISHES AND SMALL APPLIANCES. BASIC NEEDS SERVICES ALSO INCLUDES THE WEEKEND BACKPACK AND RETAIL RESCUE PROGRAMS. THE WEEKEND BACKPACK PROGRAM FILLS BACKPACKS WITH EASY-TO-PREPARE MEALS, SNACKS, AND DRINKS TO STUDENTS RECEIVING FREE OR REDUCED COST LUNCH IN THE GREATER HARTFORD AREA TO HELP FEED THE FAMILY THROUGH THE WEEKEND. STUDENTS RECEIVE THEIR BAGS FROM THEIR SCHOOLS, OR PARENTS PICK UP IN OUR AVON OFFICE, ON FRIDAYS. IN ADDITION, GOL IS ALSO SERVING 2 SCHOOLS IN WEST HARTFORD, 1 SCHOOL IN NEW BRITAIN, AND 5 CREC SCHOOLS. BAGS ARE FILLED WITH FOODS OBTAINED FROM FOODSHARE. ALLERGIES ARE ADDRESSED AND BAGS ARE CHECKED REGULARLY BEFORE THEY GO OUT TO THE SCHOOLS.WITH THE RETAIL RESCUE PROGRAM, GIFTS OF LOVE AND A CREW OF VOLUNTEERS PICK UP FOOD "RESCUED" FROM LOCAL SUPERMARKETS. PARTICIPATING STORES INCLUDE FITZGERALD'S, BIG Y, SHOP RITE, STOP AND SHOP, FRESH MARKET, AVON PRIME MEATS, AND WHOLE FOODS. FOOD IS PICKED UP AT EACH LOCATION ONCE OR TWICE WEEK. RESCUED FOOD IS MADE AVAILABLE TO CLIENTS AT THEIR REGULAR VISITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Robert Wong President | OfficerTrustee | 2 | $0 |
Lydia Tedone Secretary | OfficerTrustee | 2 | $0 |
Sean Riley Treasurer | OfficerTrustee | 2 | $0 |
Jaime Hegarty Director | Trustee | 1 | $0 |
Joan Kemler Director | Trustee | 1 | $0 |
Nestor Leon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $155,311 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,043,663 |
| Noncash contributions included in lines 1a–1f | $417,263 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,198,974 |
| Total Program Service Revenue | $0 |
| Investment income | $17,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$883 |
| Net Gain/Loss on Asset Sales | -$12,661 |
| Net Income from Fundraising Events | $119,828 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,323,157 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $93,907 |
| Compensation of current officers, directors, key employees. | $39,441 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,972 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,312 |
| Fees for services: Management | $24,304 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,338 |
| Office expenses | $21,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,945 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,255 |
| Insurance | $8,142 |
| All other expenses | $0 |
| Total functional expenses | $1,125,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,656 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,923 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $82,764 |
| Prepaid expenses and deferred charges | $10,904 |
| Net Land, buildings, and equipment | $361,705 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $575,957 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,447,909 |
| Accounts payable and accrued expenses | $26,656 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $99,809 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,000 |
| Total liabilities | $128,465 |
| Net assets without donor restrictions | $1,162,595 |
| Net assets with donor restrictions | $156,849 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,447,909 |