Loops Inc
- Assets
- $104.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Odessa, TX
- Founding
- 01/1991
- Data as of
- 12/2023
- 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 12/2023, Loops Inc generated $29.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $39.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 9 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
2023
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 | |
Derek Mccammon President | 0 | $0 | |
Dan Pearson Vice President | 0 | $0 | |
Sharron Mcdonald Secretary | 0 | $0 | |
Jimmy Austin Director | 0 | $0 | |
Ray Andrews Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,186 |
| 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 | $29,186 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $9,921 |
| Professional fees and other payments to independent contractors | $320 |
| Occupancy, rent, utilities, and maintenance | $3,369 |
| Printing, publications, postage, and shipping | $4,253 |
| Other expenses | $20,967 |
| Total expenses | $39,580 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $104,436 |
| Other assets | $0 |
| Total assets | $104,436 |
| Total liabilities | $543 |
| Net assets or fund balances | $103,893 |