LOVE INC OF METRO TAMPA INC

EIN: 812456286 501(c)(3) Religion

TAMPA, FL

Total Revenue
$224,289
Total Expenses
$247,334
Total Assets
$184,248
Net Assets
$184,248
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
FL
Principal Officer
CHALETTE DAVIS
Phone
8134669166
Tax Period
2023-01-01 to 2023-12-31

LOVE INC OF METRO TAMPA INC, founded in 2016, is a small nonprofit in the Religion sector that reported $224K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $247K exceeded revenue, resulting in a 10% operating deficit.

Mission

LOVE INC OF METRO TAMPA HAS A MISSION TO MOBILIZE LOCAL CHURCHES TO TRANSFORM LIVES AND COMMUNITIES IN THE NAME OF CHRIST. WE USE A PROVEN MODEL THAT NETWORKS LOCAL CHURCHES, CHURCH VOLUNTEERS AND COMMUNITY ORGANIZATIONS TOGETHER TO HELP PEOPLE IN NEED. THROUGH OUR HELP CENTER CLEARINGHOUSE APPROACH, CHURCHES AND VOLUNTEERS ARE MOBILIZED TO WORK TOGETHER, ACROSS DENOMINATIONAL LINES. THIS ALLOWS US TO OFFER COORDINATED SUPPORT FOR STRUGGLING NEIGHBORS WITH BASIC NEEDS SUCH AS FOOD, FURNITURE AND SHELTER. THROUGH OUR TRANSFORMATIONAL MODEL, OUR FOCUS IS TO ENCOURAGE AND INSPIRE OUR GUESTS TO CONNECT WITH A MENTOR AND JOIN US IN LONG-TERM PERSONAL DEVELOPMENT EXPERIENCES LIKE FINANCIAL PLANNING, HEALTH & WELLNESS, GOAL SETTING OR EMPLOYMENT ASSISTANCE. THIS MAKES US DIFFERENT BY DESIGN - MOBILIZING CHURCH MISSIONS AND RESOURCES TO TRANSFORM LIVES AND PUT GOD'S LOVE ON DISPLAY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $222,788
Program Service Revenue $0
Investment Income $1,501
Other Revenue $0
TOTAL REVENUE $224,289

Expense Breakdown

Grants Paid $0
Salaries & Benefits $101,509
Fundraising Expenses $0
Program Expenses $247,334
Other Expenses $145,825
TOTAL EXPENSES $247,334

Year-over-Year Comparison

2023 2022 Change
Revenue $224,289 $349,921 -0.4%
Expenses $247,334 $253,865 0.0%
Net Income $-23,045 $96,056 -1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$49,400
Total Directors
1
$49,400
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHALETTE DAVIS EXECUTIVE DIRECTOR 40.00
Officer Director
$49,400 $0 $49,400
LANCE CURRY VICE CHAIR 0.50
Officer
$0 $0 $0
THADDEUS BEREDAY CHAIR 2.00
Officer
$0 $0 $0
LOGAN RODRIGUEZ TREASURER 2.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $224,289 $247,334 $184,248 $-23,045
2022 $349,921 $253,865 $205,776 $96,056
2021 $293,560 $220,049 $109,932 $73,511
2020 $233,734 $192,796 $242,355 $40,938
2018 $242,277 $128,223 $228,953 $114,054
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