Locks Of Love Inc
- Assets
- $7.2m
- Revenue
- $946.3k
- Investments
- $5.0m
- Employees
- 5
- Location
- West Palm Beach, FL
- Founding
- 12/1997
- Data as of
- 11/2021
- EIN
- 65-0755522
Organization Overview
Locks Of Love Inc is located in West Palm Beach, FL. The organization was established in 1997. According to its NTEE Classification (E86) the organization is classified as: Patient & Family Support, under the broad grouping of Health Care and related organizations. As of 11/2021, Locks Of Love Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Locks 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 11/2021, Locks Of Love Inc generated $946.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $648.0k during the year ending 11/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CUSTOM MADE HAIR PROSTHETICS TO DISADVANTAGED CHILDREN TO AGE OF TWENTY-ONE, WHO SUFFERED HAIR LOSS AS A RESULT OF VARIOUS MEDICAL CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCKS OF LOVE PROVIDED 94 WIGS/HAIRPIECES TO CHILDREN SUFFERING FROM HAIR LOSS. LOCKS OF LOVE CONTINUES THE BLOG AND FACEBOOK PAGE FOR RECIPIENTS AND DONORS, AS WELL AS ITS INSTAGRAM ACCOUNT AND TWITTER PAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Borum General Mana | Officer | 40 | $62,482 |
Madonna Coffman President | Trustee | 8 | $0 |
Allison Weber Shuren Director | Trustee | 1 | $0 |
Dorothy Barrie Director | Trustee | 1 | $0 |
Linnette Miller Lmhc Vice Preside | Trustee | 1 | $0 |
Abigail Coffman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $712,553 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,553 |
| Total Program Service Revenue | $107,743 |
| Investment income | $80,397 |
| 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 | $946,273 |
| 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. | $62,482 |
| Compensation of current officers, directors, key employees. | $3,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,707 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,282 |
| Advertising and promotion | $0 |
| Office expenses | $51,482 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $61,565 |
| Insurance | $66,348 |
| All other expenses | $30,613 |
| Total functional expenses | $647,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $475,389 |
| 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 | $5,200 |
| Net Land, buildings, and equipment | $1,624,027 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,048,398 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,153,014 |
| Accounts payable and accrued expenses | $4,322 |
| 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 | $4,322 |
| Net assets without donor restrictions | $7,148,692 |
| 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 | $7,153,014 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Locks Of Love Inc has recieved totaling $44,835.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $23,687 |
Give Lively Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $10,199 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $7,265 |
Wieland Family Foundation Chicago, IL PURPOSE: GENERAL CONTRIBUTION | $2,000 |
Brennan Family Charitable Trust Inc Far Hills, NJ PURPOSE: TO SUPPORT THE MISSION FOR CHILDREN SUFFERING WITH HAIR LOSS | $1,250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $234 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Give Kids The World Inc Kissimmee, FL | $122,152,996 | $39,309,635 |
Make A Wish Foundation Of Southern Florida Inc Fort Lauderdale, FL | $50,426,028 | $16,212,259 |
Atlanta Ronald Mcdonald House Charities Inc Atlanta, GA | $44,808,722 | $8,699,770 |
The Boggy Creek Gang Inc Eustis, FL | $48,280,117 | $10,273,506 |
Childrens Harbor Inc Alexander City, AL | $18,826,684 | $4,602,501 |
Lighthouse Family Retreat Inc Alpharetta, GA | $2,831,425 | $4,605,749 |
Make-A-Wish Foundation Of Central And Northern Florida Inc Maitland, FL | $7,400,227 | $4,541,194 |
Ronald Mcdonald House Charities Of Tampa Bay Inc Tampa, FL | $20,980,935 | $5,172,981 |
Ronald Mcdonald House Charities Of Jacksonville Inc Jacksonville, FL | $25,306,854 | $2,838,158 |
Ronald Mcdonald House Charities Of Central Florida Inc Orlando, FL | $15,414,463 | $3,824,990 |
Ronald Mcdonald House Charities Of Alabama Birmingham, AL | $20,083,207 | $3,567,970 |
Dreams Come True Of Jacksonville Inc Jacksonville, FL | $9,630,720 | $3,208,550 |