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Love Squared Missions INC FY2023 filing

Tax-deductible

Franklin, TN501(c)(3)ReligionEIN 46-0503384Revenue $242K in FY2023

On file with the IRS200 Stillcreek Dr, 37064-6764 · Franklin, TNTax-exempt since Nov 2003Publicly supported charity — 170(b)(1)(A)(vi)

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To spread the gospel of jesus christ through music to underprivileged communities

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $9K a year · 5% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $16K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9
0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$242K
+9% vs prior year
Spent
$266K
To programs
96%
Net assets
$77K
By yearFY2020–FY2024
Revenue
$242K
FY2023▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$187K
FY2022$222K
FY2023$242K
FY2024$161K
Expenses
$266K
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$152K
FY2022$250K
FY2023$266K
FY2024$181K
Net assets
$77K
FY2023▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$101K
FY2022$101K
FY2023$77K
FY2024$56K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $256K Management & general 4% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joseph Katina
President
$0Pt VII · Sec A
John Katina
Director
$0Pt VII · Sec A
Jesse Katina
Director
$0Pt VII · Sec A
James Katina
Director
$0Pt VII · Sec A
See Love Squared Missions INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Spreads the Gospel of Jesus Christ through music to underprivileged communities.

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Provided by the organization

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1 program · $256K · in their own filed words · FY2023
01

To spread the gospel of jesus christ, our lord and savior, through music and evangelizing to underprivileged communities. To provide assistance to families in underpriviledged communities.

$256Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Grp FoundationFY2023$15K
Stephens Christian TrustFY2023$1K
Total grants receivedfrom 2 funders$16K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$242K
Ln 12
Gifts and grantsLn 1h$242K
Money outPt IX
$266K
Ln 25
Programscol B$256K
Managementcol C$10K
Owns and owesPt X
$77K
net assets · Ln 32
Cash and savingsLn 1–2$74K
Total assetsLn 16$77K
LiabilitiesLn 26$9
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$242K
Total revenueLn 12$242K
Assets in detailPt X, end of year
CashLn 1$74K
Cash and savings togetherLn 1–2$74K
Land, buildings, equipmentLn 10c$3K
Total assetsLn 16$77K
LiabilitiesLn 26$9
Net assetsLn 32$77K
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$97K$74K
Land, buildings, equipmentLn 10c$5K$3K
Total assetsLn 16$101K$77K
LiabilitiesLn 26$497$9
Net assetsLn 32$101K$77K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$82K$82K$0$0
Other employee benefitsLn 9$5K$5K$0$0
Payroll taxesLn 10$7K$7K$0$0
Accounting feesLn 11c$2K$0$2K$0
Office expensesLn 13$4K$4K$348$0
Information technologyLn 14$10K$10K$0$0
OccupancyLn 16$13K$13K$0$0
TravelLn 17$7K$1K$6K$0
Conferences, conventions and meetingsLn 19$22K$22K$0$0
Payments to affiliatesLn 21$58K$58K$0$0
Depreciation, depletion and amortizationLn 22$2K$0$2K$0
Other expenses (24a–d)Ln 24$20K$20K$0$0
All other expensesLn 24e$34K$34K$12$0
Total functional expensesLn 25$266K$256K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $161K$181K−$21K$56K 990 PDF
FY2023 Viewing $242K$266K−$24K$77K 990 PDF
FY2022 $222K$250K−$28K$101K 990 PDF
FY2021 Not on file
FY2020 $187K$152K$35K$101K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $242,084 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $222,022$242,084
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $222,022$242,084
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $80,651$94,493
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $169,116$171,640
I-18 Total expensesPrior year $249,767$266,133
I-19 Revenue less expensesPrior year −$27,745−$24,049
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $242,084 across 3 lines filed
VIII-1f All other contributions, gifts and grants$242,084
VIII-1h Total contributions, gifts and grants$242,084
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$242,084
Part IX · Statement of functional expenses $266,133 across 13 lines filed
IX-7 Other salaries and wagesPrograms $82,300 · Management $0 · Fundraising $0$82,300
IX-9 Other employee benefitsPrograms $5,400 · Management $0 · Fundraising $0$5,400
IX-10 Payroll taxesPrograms $6,793 · Management $0 · Fundraising $0$6,793
IX-11c Accounting feesPrograms $0 · Management $1,615 · Fundraising $0$1,615
IX-13 Office expensesPrograms $4,112 · Management $348 · Fundraising $0$4,460
IX-14 Information technologyPrograms $10,110 · Management $0 · Fundraising $0$10,110
IX-16 OccupancyPrograms $12,596 · Management $0 · Fundraising $0$12,596
IX-17 TravelPrograms $1,157 · Management $6,199 · Fundraising $0$7,356
IX-19 Conferences, conventions and meetingsPrograms $21,600 · Management $0 · Fundraising $0$21,600
IX-21 Payments to affiliatesPrograms $58,000 · Management $0 · Fundraising $0$58,000
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $1,556 · Fundraising $0$1,556
IX-24 Other expenses (24a–d)Programs $20,374 · Management $0 · Fundraising $0$20,374
IX-24e All other expensesPrograms $33,961 · Management $12 · Fundraising $0$33,973
IX-25 Total functional expensesPrograms $256,403 · Management $9,730 · Fundraising $0$266,133
Part X · Balance sheet $76,587 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $96,592$73,611
X-10c Land, buildings and equipment, netStart of year $4,532$2,976
X-16 Total assetsStart of year $101,124$76,587
X-25 Other liabilitiesStart of year $497$9
X-26 Total liabilitiesStart of year $497$9
X-32 Total net assets or fund balancesStart of year $100,627$76,578
X-33 Total liabilities and net assetsStart of year $101,124$76,587
Part XI · Reconciliation of net assets $76,578 net assets at year end
XI-1 Total revenue$242,084
XI-2 Total expenses$266,133
XI-3 Revenue less expenses−$24,049
XI-4 Net assets at start of year$100,627
XI-10 Net assets at end of year$76,578

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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