Locks of Love
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Locks of Love meets the 20 Standards for Charity Accountability.
Stated Purpose:
"to return a sense of self, confidence, and normalcy to children suffering from hair loss by utilizing donated ponytails to provide the highest quality hair prosthetics to financially disadvantaged children."
Year, State Incorporated:
1997, FL
Locks of Love (LOL) provides hairpieces to children 21 years old and younger in the United States and Canada suffering from any type of medical hair loss. The organization reports these custom-fitted hair prosthetics are provided free of charge and are made from donated ponytails. LOL offers an annual camp for hair prosthetic recipients, creates awareness to the medical and educational communities to encourage referrals, and supports research for medical hair loss.
For the year ended November 30, 2023, Locks of Love's program expenses were:
Program services: $609,531
Total Program Expenses: $609,531
Chief Executive
Linda Borum, General Manager
Compensation*
$65,000
Chair of the Board
Madonna W. Coffman
Chair's Profession / Business Affiliation
Registered Nurse
Board Size
6
Paid Staff Size
5
*2025 compensation, as reported by the organization, includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Internet
Fundraising costs were 5% of related contributions. (Related contributions, which totaled $285,902, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Locks of Love's audited financial statements for the year ended November 30, 2023.
Source of Funds
| Contributions | $285,902 |
| Material revenue | $338,913 |
| Investment income, net | $217,732 |
| Other income | $3,370 |
| Total Income | $845,917 |
Programs: 87% Fundraising: 2% Administrative: 11%
| Total Income | $845,917 |
| Total expenses: | $704,419 |
| Program expenses | $609,531 |
| Fundraising expenses | $13,975 |
| Administrative expenses | $80,913 |
| Other expenses | $0 |
| Income in Excess of Expenses | $141,498 |
| Beginning Net Assets | $7,162,645 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $7,304,143 |
| Total Liabilities | $4,321 |
| Total Assets | $7,308,464 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance