Jacob J Love Foundation
- Assets
- $4.1k
- Revenue
- $4.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Troy, MI
- Founding
- 09/2019
- Data as of
- 04/2024
- EIN
- 84-2191516
Organization Overview
Jacob J Love Foundation is located in Troy, MI. The organization was established in 2019. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jacob J Love Foundation 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 04/2024, Jacob J Love Foundation generated $4.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (27.0%) each year. All expenses for the organization totaled $5.2k during the year ending 04/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SCHOLARSHIPS PRESENTED TO HIGH SCHOOL STUDENTS TO FURTHER THEIR MUSICAL EDUCATIONS
GRANT TO PROVIDE A WISH TO CHILDREN WITH LIFE-THREATENING MEDICAL CONDITIONS
GRANT TO PROVIDE RAPID AND SAFE TRANSPORTATION TO CRITICALLY ILL PATIENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Love President | 0 | $0 | |
William Love Treasurer | 0 | $0 | |
Denise Love Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,190 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,190 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,191 |
| Total operating and administrative expenses | $1,191 |
| Contributions, gifts, grants paid | $4,000 |
| Total expenses and disbursements | $5,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,076 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,076 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Jacob J Love Foundation has awarded $4,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ETHAN WANG PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
YEJI PARK PURPOSE: EDUCATIONAL SCHOLARSHIP | $1,000 |
UNIVERSITY OF MICHIGAN PURPOSE: PATIENT TRANSPORTATION | $1,000 |
RAINBOW CONNECTION PURPOSE: PATIENT HARDSHIP CHARITY | $1,000 |