Love Inc Of Worthington
- Assets
- $62.7k
- Revenue
- $103.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Worthington, MN
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 38-3802327
Organization Overview
Love Inc Of Worthington, operating under the name Love Inc, is located in Worthington, MN. The organization was established in 2011. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Love Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2022, Love Inc generated $103.9k 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 (6.3%) each year. All expenses for the organization totaled $124.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
TRANSFORMATIONAL MINISTRY: GROWING HOPE IS A WEEKLY EDUCATIONAL AND SUPPORT GROUP PROGRAM THAT TEACHES SKILLS TO HELP PARTICIPANTS LIVE MORE MEANINGFUL AND PRODUCTIVE LIVES. THE PARTICIPANTS ARE ABLE TO EARN INCENTIVES THROUGH WEEKLY ATTENDANCE AND HOMEWORK. THESE INCENTIVES (I.E. GAS CARDS, PERSONAL CARE ITEMS, BED LINENS) REWARD PARTICIPANTS FOR THE HEALTHY CHOICES THEY ARE MAKING. TO PROVIDE CHRISTIAN FELLOWSHIP WITH THE STUDENTS A LIGHT DINNER WAS SERVED TO THE STUDENTS BY THE DIFFERENT CHURCH OR CHURCH GROUP BEFORE THE FAITH & FINANCE SESSION. IN 2022, WE OFFERED THE FOLLOWING CLASSES: BUDGETING, INDEPENDENT STUDY & GRIEDSHARE THRU FIRST LUTHERAN CHURCH. A UNKNOWN NUMBER OF PARTICIPATES IN THE FAITH & FINANCE AND IN GRIEFSHARE.
SEE SCHEDULE O
GAP MINISTRIES: CONNECTING AND HELPING LOCAL CHURCHES AND VOLUNTEERS TO CREATE NEW MINISTRIES TO MEET THE LOCAL NEEDS THAT HAVE BEEN VERIFIED THRU THE CLEARINGHOUSE. OF THE 195 CALLS RECEIVED THROUGH THE CLEARINGHOUSE: 185 ADULTS AND CHILDRENS NEEDS WERE MET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Kirkeby Director | Trustee | 0 | $0 |
Mary Ann Parker Director | Trustee | 0 | $0 |
Eligio Rodriguez Director | Trustee | 0 | $0 |
Mike Moore Vice Chair | Trustee | 0 | $0 |
Jeanette Mccormick Ex Officiodirector | Trustee | 0 | $0 |
Tom Cavanaugh Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $8,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,910 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,910 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,910 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,129 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $940 |
| Payroll taxes | $5,372 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,382 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,232 |
| Advertising and promotion | $3,850 |
| Office expenses | $6,121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,128 |
| Travel | $1,460 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,032 |
| Interest | $0 |
| Payments to affiliates | $4,992 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,071 |
| All other expenses | $1,093 |
| Total functional expenses | $124,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,693 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $62,693 |
| Accounts payable and accrued expenses | $657 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $657 |
| Net assets without donor restrictions | $62,036 |
| Net assets with donor restrictions | $0 |
| 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 | $62,693 |