Love Inc
- Assets
- $689.1k
- Revenue
- $175.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Meridian, MS
- Founding
- 06/1983
- Data as of
- 12/2021
- EIN
- 64-0670858
Organization Overview
Love Inc is located in Meridian, MS. The organization was established in 1983. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Love Inc employed 7 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 12/2021, Love Inc generated $175.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $183.3k during the year ending 12/2021. 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
PROVIDING MEALS TO NEEDY INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THIS ORGANIZATION IS TO FEED ALL PEOPLE IN NEED IN OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fannie Johnson Executive Director | OfficerTrustee | 45 | $62,408 |
Tyler Walton President | OfficerTrustee | 0 | $0 |
Libby Bounds Secretary | OfficerTrustee | 0 | $0 |
John Northam Treasurer | OfficerTrustee | 0 | $0 |
Sally Neville Board Member | Trustee | 0 | $0 |
Scotty Cole Board Member | Trustee | 0 | $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 | $169,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $169,155 |
| Total Program Service Revenue | $0 |
| Investment income | $5,977 |
| 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 | $175,132 |
| 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. | $62,408 |
| Compensation of current officers, directors, key employees. | $15,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,248 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,479 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,488 |
| 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 | $13,855 |
| Insurance | $6,982 |
| All other expenses | $12,033 |
| Total functional expenses | $183,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,258 |
| Savings and temporary cash investments | $308,798 |
| 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 | $292,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60 |
| Total assets | $689,065 |
| Accounts payable and accrued expenses | $2,418 |
| 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 | $2,418 |
| Net assets without donor restrictions | $656,247 |
| Net assets with donor restrictions | $30,400 |
| 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 | $689,065 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Love Inc has recieved totaling $65,217.
| Awarding Organization | Amount |
|---|---|
Paul & Sherry Broadhead Foundation Meridian, MS PURPOSE: GENERAL OPERATIONS OF THE ORGANIZATION | $25,000 |
Community Foundation Of East Mississippi Inc Meridian, MS PURPOSE: GENERAL SUPPORT | $20,000 |
United Way Of East Mississippi Inc Meridian, MS PURPOSE: COMMUNITY WELFARE AND SOCIAL SERVICES | $10,200 |
Eugene & Mary Elizabeth Williams Tr Charitable 451 4055000448 Birmingham, AL PURPOSE: GENERAL OPERATING | $10,017 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Our Daily Bread Of Tennessee Inc Knoxville, TN | $2,326,524 | $13,713,547 |
Nutrition Healthy Choice Of Monroe Inc Monroe, LA | $818,983 | $10,631,846 |
Harvest Texarkana Texarkana, AR | $7,563,081 | $9,692,517 |
St Amants Dch Inc Denham Springs, LA | $430,763 | $6,135,136 |
Housing First Inc Mobile, AL | $744,831 | $5,672,960 |
Arkansas Hunger Relief Alliance Inc Little Rock, AR | $5,411,113 | $5,176,832 |
Of One Accord Inc Rogersville, TN | $2,058,166 | $4,725,559 |
Presbyterian Urban Council Little Rock, AR | $124,101 | $3,323,445 |
Nashville Food Project Inc Nashville, TN | $5,206,540 | $2,809,035 |
Serving Orphans Worldwide Inc Bristol, TN | $957,366 | $2,923,853 |
Alabama Childhood Food Solutions Inc Alpine, AL | $899,524 | $1,889,274 |
Children And Nutrition Inc Crowley, LA | $175,844 | $1,764,494 |