Lynchburg Covenant Fellowship Inc
- Assets
- $5.9m
- Revenue
- $780.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Lynchburg, VA
- Founding
- 02/1971
- Data as of
- 12/2022
- EIN
- 54-6026892
Organization Overview
Lynchburg Covenant Fellowship Inc is located in Lynchburg, VA. The organization was established in 1971. According to its NTEE Classification (L24) the organization is classified as: Independent Housing for People with Disabilities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Lynchburg Covenant Fellowship Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynchburg Covenant Fellowship Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Lynchburg Covenant Fellowship Inc generated $780.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $882.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF SAFE AND AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF SAFE AND AFFORDABLE HOUSING FOR LOW-INCOME AND MENTALLY-HANDICAPPED AND PHYSICALLY-DISABLED PERSONS. INDIVIDUALS SERVED RANGE FROM 100 TO 200.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Snavely Executive Director | Officer | 40 | $99,969 |
William S Andrews Director | Trustee | 0.25 | $0 |
Tina Barnes Director | Trustee | 0.25 | $0 |
Nathan C Brooks III Director | Trustee | 0.25 | $0 |
William R Cardwell Treasurer & Director | OfficerTrustee | 0.25 | $0 |
Terrell Cosby Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,929 |
| Total Program Service Revenue | $601,309 |
| Investment income | $90,282 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $74,215 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $780,453 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,818 |
| Compensation of current officers, directors, key employees. | $31,932 |
| Compensation to disqualified persons | $386,557 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $15,467 |
| Other employee benefits | $81,155 |
| Payroll taxes | $36,766 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,772 |
| Fees for services: Accounting | $16,542 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,290 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,005 |
| Travel | $627 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,509 |
| Interest | $736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,941 |
| Insurance | $27,772 |
| All other expenses | $0 |
| Total functional expenses | $882,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,604 |
| Savings and temporary cash investments | $374,065 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,559,633 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,285 |
| Net Land, buildings, and equipment | $463,454 |
| Investments—publicly traded securities | $3,392,620 |
| Investments—other securities | $0 |
| Investments—program-related | $35,013 |
| Intangible assets | $0 |
| Other assets | $5,714 |
| Total assets | $5,933,388 |
| Accounts payable and accrued expenses | $5,678 |
| Grants payable | $50,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $175,884 |
| Other liabilities | $8,150 |
| Total liabilities | $239,712 |
| Net assets without donor restrictions | $5,593,676 |
| Net assets with donor restrictions | $100,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,933,388 |