Loops Inc
- Assets
- $114.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Odessa, TX
- Founding
- 01/1991
- Data as of
- 12/2021
- EIN
- 75-2310493
Organization Overview
Loops Inc is located in Odessa, TX. The organization was established in 1991. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loops 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 12/2021, Loops Inc generated $47.4k 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 (9.0%) each year. All expenses for the organization totaled $44.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
SUPPORTS SPIRITUAL AND FINANCIAL NEEDS OF PRISONERS AND THEIR FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Maples Executive Director/treasurer | 20 | $0 | |
Dan Pearson Vice President | 0 | $0 | |
Sharron Mcdonald Secretary | 0 | $0 | |
Derek Mccammon President | 0 | $0 | |
Jimmy Austin Director | 0 | $0 | |
Rick Connell Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,368 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $47,368 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $13,080 |
| Professional fees and other payments to independent contractors | $620 |
| Occupancy, rent, utilities, and maintenance | $4,139 |
| Printing, publications, postage, and shipping | $3,781 |
| Other expenses | $21,998 |
| Total expenses | $44,318 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $114,569 |
| Other assets | $0 |
| Total assets | $114,569 |
| Total liabilities | $803 |
| Net assets or fund balances | $113,766 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Loops Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Hext Family Foundation Midland, TX PURPOSE: PRISON MINISTRY | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union Gospel Mission Of Tarrant County Fort Worth, TX | $65,887,376 | $29,455,408 |
Minnie Slaughter Veal Memorial Fund Dallas, TX | $15,276,892 | $11,585,960 |
Glorieta 2-0 Inc Glorieta, NM | $10,000,063 | $8,243,412 |
Modern Day Missions Arlington, TX | $2,308,348 | $8,222,545 |
Global Media Outreach Plano, TX | $2,988,957 | $8,027,207 |
House Of Prayer And Life Incorporated Houston, TX | $2,486,433 | $7,989,653 |
Camp Allen-Camp And Conference Center Navasota, TX | $17,153,236 | $7,942,711 |
West Houston Assistance Ministries Inc Houston, TX | $3,828,529 | $8,204,113 |
Center For Christian Growth Inc New Braunfels, TX | $17,780,504 | $10,473,617 |
Carolina Creek Christian Camp Huntsville, TX | $14,287,598 | $6,641,760 |
Christian Motorcyclists Assn Inc Hatfield, AR | $5,956,243 | $7,886,367 |
New Life Ranch Inc Colcord, OK | $22,344,755 | $6,024,517 |