Laces Of Love Charitable Foundation Inc
Laces Of Love Charitable Foundation consistently operates with surpluses and zero officer compensation.
EIN: 202870936 · Naples, FL · NTEE: B19 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $825K |
| Total Expenses | $378K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $586,468. |
| Net Assets | $539K |
| Transparency Score | 92/100 |
Is Laces Of Love Charitable Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Laces Of Love Charitable Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Laces Of Love Charitable Foundation Inc
Laces Of Love Charitable Foundation Inc (EIN: 202870936) is a nonprofit organization based in Naples, FL, classified under NTEE code B19. The organization reported total revenue of $825K and total assets of $832K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Laces Of Love Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Laces Of Love Charitable Foundation Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $586K |
| Total Expenses | $378K |
| Surplus / Deficit | +$208K |
| Total Assets | $539K |
| Net Assets | $539K |
| Operating Margin | 35.5% |
| Months of Reserves | 17.1 months |
Financial Health Grade: A
In 2023, Laces Of Love Charitable Foundation Inc reported a surplus of $208K with revenue exceeding expenses, holds 17.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Laces Of Love Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -35.2% | -58.1% | +64.3% |
| 2022 | +96.8% | +109.6% | +0.4% |
| 2021 | +24.5% | +9.2% | +9.6% |
| 2020 | -18.2% | -3.2% | -7.9% |
| 2019 | +18.2% | +13.1% | +15.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Laces Of Love Charitable Foundation Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Laces Of Love Charitable Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $208K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% in all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size with latest revenue of $586,468.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Laces Of Love Charitable Foundation Inc:
- Consistent financial surpluses, indicating strong financial management (e.g., $586,468 revenue vs. $378,366 expenses in 2023).
- Zero liabilities reported across all available filings, demonstrating excellent financial stability and low risk.
- 0% officer compensation, indicating a volunteer-led organization and high dedication to mission.
- Consistent growth in assets over the past decade, from $103,802 in 2014 to $538,509 in 2023.
- Regular and extensive IRS 990 filing history (13 filings), demonstrating strong transparency and accountability.
Frequently Asked Questions about Laces Of Love Charitable Foundation Inc
Is Laces Of Love Charitable Foundation Inc a legitimate charity?
Laces Of Love Charitable Foundation Inc (EIN: 202870936) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $825K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Laces Of Love Charitable Foundation Inc spend its money?
Laces Of Love Charitable Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Laces Of Love Charitable Foundation Inc tax-deductible?
Laces Of Love Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202870936). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Laces Of Love Charitable Foundation Inc CEO make?
Laces Of Love Charitable Foundation Inc's highest-compensated officer earns $586,468. annually. The organization reported $825K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Laces Of Love Charitable Foundation Inc's spending goes to programs?
Laces Of Love Charitable Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Laces Of Love Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Laces Of Love Charitable Foundation Inc is above average for NTEE category B19 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Laces Of Love Charitable Foundation Inc located?
Laces Of Love Charitable Foundation Inc is headquartered in Naples, Florida and files with the IRS under EIN 202870936. It is classified under NTEE code B19.
How many years of IRS 990 filings does Laces Of Love Charitable Foundation Inc have?
Laces Of Love Charitable Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $825K in total revenue.
Is Laces Of Love Charitable Foundation Inc a good charity?
Based on the provided financial data, Laces Of Love Charitable Foundation Inc appears to be a very good charity. It consistently operates with surpluses, has zero liabilities, and reports 0% officer compensation, indicating strong financial management and a high dedication to its mission.
How has the organization's financial health changed over time?
The organization has shown consistent growth and financial stability over the past decade. Revenue has grown from $152,877 in 2014 to $586,468 in 2023, and assets have increased from $103,802 to $538,509 in the same period, demonstrating robust financial health and growth.
What is the trend in expenses relative to revenue?
In most years, Laces Of Love Charitable Foundation Inc's expenses have been less than its revenue, leading to consistent surpluses. For example, in 2023, revenue was $586,468 and expenses were $378,366, indicating efficient spending and a healthy financial margin.
Filing History
IRS 990 filing history for Laces Of Love Charitable Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Laces Of Love Charitable Foundation Inc's revenue has grown by 290.8%, moving from $150K to $586K. Total assets increased by 960.8% over the same period, from $51K to $539K. Total functional expenses rose by 169.7%, from $140K to $378K. In its most recent filing year (2023), Laces Of Love Charitable Foundation Inc reported a surplus of $208K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $586K | $378K | $539K | $0 | — | — |
| 2022 | $905K | $903K | $328K | $0 | — | View 990 |
| 2021 | $460K | $431K | $326K | $0 | — | View 990 |
| 2020 | $369K | $395K | $298K | $0 | — | — |
| 2019 | $451K | $408K | $323K | $0 | — | View 990 |
| 2018 | $382K | $361K | $280K | $0 | — | View 990 |
| 2017 | $509K | $444K | $259K | $0 | — | View 990 |
| 2016 | $279K | $225K | $193K | $0 | — | View 990 |
| 2015 | $239K | $209K | $134K | $0 | — | View 990 |
| 2014 | $153K | $147K | $104K | $0 | — | View 990 |
| 2013 | $200K | $135K | $111K | $0 | — | View 990 |
| 2012 | $117K | $123K | $45K | $0 | — | View 990 |
| 2011 | $150K | $140K | $51K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $586K, expenses of $378K, and assets of $539K (revenue -35.2% year-over-year).
- 2022: Revenue of $905K, expenses of $903K, and assets of $328K (revenue +96.8% year-over-year).
- 2021: Revenue of $460K, expenses of $431K, and assets of $326K (revenue +24.5% year-over-year).
- 2020: Revenue of $369K, expenses of $395K, and assets of $298K (revenue -18.2% year-over-year).
- 2019: Revenue of $451K, expenses of $408K, and assets of $323K (revenue +18.2% year-over-year).
- 2018: Revenue of $382K, expenses of $361K, and assets of $280K (revenue -24.9% year-over-year).
- 2017: Revenue of $509K, expenses of $444K, and assets of $259K (revenue +82.3% year-over-year).
- 2016: Revenue of $279K, expenses of $225K, and assets of $193K (revenue +16.7% year-over-year).
- 2015: Revenue of $239K, expenses of $209K, and assets of $134K (revenue +56.4% year-over-year).
- 2014: Revenue of $153K, expenses of $147K, and assets of $104K (revenue -23.7% year-over-year).
- 2013: Revenue of $200K, expenses of $135K, and assets of $111K (revenue +70.8% year-over-year).
- 2012: Revenue of $117K, expenses of $123K, and assets of $45K (revenue -21.8% year-over-year).
- 2011: Revenue of $150K, expenses of $140K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Laces Of Love Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Laces Of Love Charitable Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.