Freedom Rain Inc
- Assets
- $1.5m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 200
- Location
- Birmingham, AL
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 72-1344856
Organization Overview
Freedom Rain Inc, operating under the name The Lovelady Center, is located in Birmingham, AL. The organization was established in 1997. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Lovelady Center employed 200 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovelady Center 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 12/2021, Lovelady Center generated $8.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $8.1m during the year ending 12/2021. While expenses have increased by 6.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LOVELADY CENTER IS A NON-DENOMINATIONAL FAITH-BASED ORGANIZATION WHOSE PURPOSE IS TO HELP WOMEN BUILD A STRONG AND POSITIVE FOUNDATION IN CHRIST. THE GOAL OF THE CENTER IS TO HELP WOMEN OVERCOME ADDICTION AND TRAGEDY AND RETURN TO THE COMMUNITY AS ESTEEMED WOMEN OF GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOVELADY CENTER PROVIDES RECOVERY AND AFTERCARE SERVICES FOR 915 WOMEN AND 105 OF THEIR CHILDREN. THESE SERVICES INCLUDE ADDICTION-RECOVERY PROGRAMS, HOUSING, TRANSPORTATION, FOOD, JOB SKILLS TRAINING, GED AND COLLEGE-LEVEL EDUCATIONAL OPPORTUNITIES, CHILDCARE, AND COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Megahee Executive Director | OfficerTrustee | 60 | $81,446 |
Rosie Mullen CFO | OfficerTrustee | 40 | $68,796 |
John Mcneil Board Chairman/coo | OfficerTrustee | 50 | $0 |
Brenda Spahn Founder/board Member | OfficerTrustee | 40 | $0 |
Don Ankenbrandt Board Member | Trustee | 1 | $0 |
Matthew Gregory Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $765,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,718,484 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,484,076 |
| Total Program Service Revenue | $964,609 |
| Investment income | $574 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $100,771 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,838,368 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,388,398 |
| 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. | $150,242 |
| Compensation of current officers, directors, key employees. | $68,796 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,685,578 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $266,410 |
| Payroll taxes | $221,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,973 |
| Fees for services: Accounting | $9,447 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $175,602 |
| Advertising and promotion | $83,780 |
| Office expenses | $275,704 |
| Information technology | $102,598 |
| Royalties | $0 |
| Occupancy | $2,170,290 |
| Travel | $69,714 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,417 |
| Interest | $51,715 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,584 |
| Insurance | $201,970 |
| All other expenses | $121,818 |
| Total functional expenses | $8,073,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,230 |
| Savings and temporary cash investments | $174,931 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $300 |
| Net Land, buildings, and equipment | $1,045,143 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,695 |
| Total assets | $1,488,299 |
| Accounts payable and accrued expenses | $1,166,502 |
| Grants payable | $0 |
| 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 | $1,223,749 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,390,251 |
| Net assets without donor restrictions | -$901,952 |
| Net assets with donor restrictions | $0 |
| 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 | $1,488,299 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freedom Rain Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Baptist Health Foundation Of Birmingham Inc Birmingham, AL PURPOSE: 2022 DENTAL CLINIC EXPANSION | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Incharge Debt Solutions Inc Orlando, FL | $11,087,223 | $18,359,238 |
Consumer Credit Union Greeneville, TN | $557,161,210 | $15,832,085 |
Freedom Rain Inc Birmingham, AL | $1,488,299 | $8,388,398 |
Creditguard Of America Inc Fort Lauderdale, FL | $3,308,944 | $7,102,054 |
Incharge Education Foundation Inc Orlando, FL | $6,605,610 | $4,105,406 |
Credit Card Management Services Inc West Palm Beach, FL | $6,354,828 | $4,043,282 |
Debt Management Credit Counseling Corp Deerfield Beach, FL | $2,036,555 | $1,940,140 |
Real Estate Education And Communityhousing Inc Palm Beach Gardens, FL | $2,680,215 | $1,438,929 |
Consumer Debt Counselors Inc Winter Park, FL | $1,532,219 | $1,793,369 |
Compass Finances God S Way Inc Lake Mary, FL | $1,558,933 | $1,806,509 |
Incharge Institute Of America Inc Orlando, FL | $3,848,389 | $1,124,873 |
Alma Financial Assistance Corp Deerfield Beach, FL | $648,458 | $950,327 |