Love Bldg Incorporated

Tax-deductible

Detroit, MI501(c)(3)Arts & CultureEIN 86-2120563Revenue $1.4M in FY2024

On file with the IRSalliedmedia.org4731 Grand River Ave 400, 48208-2250 · Detroit, MITax-exempt since Aug 2021Supporting org, Type I — 509(a)(3)

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Public supporting organization

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
3 of 4
filings with a surplus
Average surplus $166K a year · 26% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 16.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9.2M
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
+433% vs prior year
Spent
$858K
To programs
82%
Net assets
$665K
By yearFY2021–FY2024
Revenue
$1.4M
FY2024▲ +433%
Tap a bar for its year
Revenue by fiscal year
FY2021$0
FY2022$872K
FY2023$268K
FY2024$1.4M
Expenses
$858K
FY2024▲ +67%
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022$531K
FY2023$515K
FY2024$858K
Net assets
$665K
FY2024▲ +608%
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2022$7.9M
FY2023$94K
FY2024$665K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2021.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $703K Management & general 10% · $89K Fundraising 8% · $66K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Director/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director/Ell Program Director
$0Pt VII · Sec A

Jeanette Lee’s $135K as Former Lbi Interim Director is at the 58th percentile of top reported officer pay among 3925 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022
Jeanette Lee$135,125$52,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Allied Media Projects, which fosters media-based organizing models.

Questions for Love Bldg Incorporated

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Provided by the organization

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1 program · $703K · in their own filed words · FY2024
01

The love BLDG incorporated was established to support the programs of allied media projects, inc., an organization that supports the growth of media-based organizing models.

$703Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Novo FoundationFY2024$200K
Total grants receivedfrom 1 funder$200K
Grants paid · 2 grants · $600K · 2022–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$85K
Fees for servicesLn 2g$43K
Money outPt IX
$858K
Ln 25
Programscol B$703K
Managementcol C$89K
Fundraisingcol D$66K
Owns and owesPt X
$665K
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$9.9M
LiabilitiesLn 26$9.2M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$3K
Fees for servicesLn 2g$43K
Investment incomeLn 3$85K
Other incomeLn 4–11$30K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$100
Cash and savings togetherLn 1–2$1.2M
Total assetsLn 16$9.9M
LiabilitiesLn 26$9.2M
Net assetsLn 32$665K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$359K$1.2M
Total assetsLn 16$8.8M$9.9M
LiabilitiesLn 26$8.7M$9.2M
Net assetsLn 32$94K$665K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$3K$2K$1K$323
Other salaries and wagesLn 7$282K$221K$19K$42K
Other employee benefitsLn 9$32K$25K$2K$5K
Payroll taxesLn 10$20K$16K$1K$3K
Other fees for servicesLn 11g$200K$194K$5K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$37K$17K$20K
Information technologyLn 14$4K$4K
OccupancyLn 16$252K$214K$23K$15K
TravelLn 17$918$645$273
Conferences, conventions and meetingsLn 19$3K$3K$94
InterestLn 20$18K$18K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$858K$703K$89K$66K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.4M$858K$571K$665K 990 PDF
FY2023 $268K$515K−$247K$94K 990 PDF
FY2022 $872K$531K$341K$7.9M 990 PDF
FY2021 $0$0$0$0 990 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 FY2024 990 (6 parts)
Part I · Summary $1,429,785 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $216,250$1,272,005
I-9 Program service revenuePrior year $525$43,241
I-10 Investment incomePrior year $47,914$84,528
I-11 Other revenuePrior year $3,600$30,011
I-12 Total revenuePrior year $268,289$1,429,785
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $248,742$337,656
I-16a Professional fundraising feesPrior year $250$0
I-17 Other expensesPrior year $265,905$520,765
I-18 Total expensesPrior year $514,897$858,421
I-19 Revenue less expensesPrior year −$246,608$571,364
Part VI · Governance 6 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,429,785 across 8 lines filed
Lines not itemized here account for $1,246 of total revenue; see the IRS return.
VIII-1e Government grants$2,700
VIII-1f All other contributions, gifts and grants$1,269,305
VIII-1h Total contributions, gifts and grants$1,272,005
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,241$43,241
VIII-3 Investment incomeExcluded from tax $84,528$84,528
VIII-6 Net rental income or lossExcluded from tax $28,331$28,331
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $434$434
VIII-12 Total revenueRelated to mission $44,487 · Unrelated business $0 · Excluded from tax $113,293$1,429,785
Part IX · Statement of functional expenses $858,421 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,616 · Management $1,292 · Fundraising $323$3,231
IX-7 Other salaries and wagesPrograms $221,004 · Management $18,687 · Fundraising $42,489$282,180
IX-9 Other employee benefitsPrograms $25,109 · Management $2,253 · Fundraising $4,829$32,191
IX-10 Payroll taxesPrograms $15,642 · Management $1,404 · Fundraising $3,008$20,054
IX-11g Other fees for servicesPrograms $194,429 · Management $5,400$199,829
IX-12 Advertising and promotionPrograms $2,046$2,046
IX-13 Office expensesPrograms $16,715 · Management $19,839$36,554
IX-14 Information technologyPrograms $4,296$4,296
IX-16 OccupancyPrograms $214,086 · Management $22,668 · Fundraising $15,112$251,866
IX-17 TravelPrograms $645 · Fundraising $273$918
IX-19 Conferences, conventions and meetingsPrograms $3,320 · Management $94$3,414
IX-20 InterestManagement $17,847$17,847
IX-24 Other expenses (24a–d)Programs $3,995$3,995
IX-25 Total functional expensesPrograms $702,903 · Management $89,484 · Fundraising $66,034$858,421
Part X · Balance sheet $9,860,864 assets, 14 lines filed
Asset lines not itemized here account for $8,452,800; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $359,368$1,151,386
X-2 Savings and temporary cash investments$100
X-3 Pledges and grants receivable$250,000
X-4 Accounts receivable$5,667
X-9 Prepaid expenses and deferred charges$911
X-16 Total assetsStart of year $8,812,168$9,860,864
X-17 Accounts payable and accrued expensesStart of year $87,460$66,488
X-19 Deferred revenue$11,940
X-25 Other liabilitiesStart of year $7,130,747$8,307,502
X-26 Total liabilitiesStart of year $8,718,207$9,195,539
X-27 Net assets without donor restrictionsStart of year $38,176−$296,496
X-28 Net assets with donor restrictionsStart of year $55,785$961,821
X-32 Total net assets or fund balancesStart of year $93,961$665,325
X-33 Total liabilities and net assetsStart of year $8,812,168$9,860,864
Part XI · Reconciliation of net assets $665,325 net assets at year end
XI-1 Total revenue$1,429,785
XI-2 Total expenses$858,421
XI-3 Revenue less expenses$571,364
XI-4 Net assets at start of year$93,961
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$665,325

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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