Lot 2540 Incorporated

Organization Overview

Lot 2540 Incorporated is located in Summerfield, NC. The organization was established in 2012. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Lot 2540 Incorporated employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lot 2540 Incorporated 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, Lot 2540 Incorporated generated $340.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $322.0k during the year ending 12/2022. While expenses have increased by 9.4% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

L.O.T. 2540 SUPPORTS MINISTRIES THAT PROMOTE PHYSICAL AND SPIRITUAL HEALING FOR FAMILIES IN ROCKINGHAM COUNTY, NC. THE CORE OF THE MINISTRY IS COMPRISED OF COUNSELING/PRAYER SERVICES TO THE COMMUNITY TO SERVE THEIR SPIRITUAL NEEDS.THE CORE MINISTRIES ARE SUPPORTED BY A RETAIL SPACE THAT INCLUDES A SALVAGE AND RECYCLING STORE. THE STORE NOT ONLY OFFERS FINANCIAL SUPPORT TO L.O.T. 2540 BUT IS ALSO UTILIZED TO FACILITATE VOCATIONAL TRAINING AND LEADERSHIP TRAINING FOR "IN TRANSITION" INDIVIDUALS. OTHER MINISTRIES, DIRECTED TOWARD THOSE WHO ARE STRUGGLING ECONOMICALLY, INCLUDE A "FREE STORE" (CLOTHING, FURNISHINGS, FOOD ITEMS, ETC.) AND A FOOD PANTRY SUPPORTED BY FOOD DONATIONS AND PURCHASES.L.O.T. 2540 CONTINUES TO MENTOR AND SUPPORT OTHER OPPORTUNITIES TO HELP CLIENTS TO BECOME SELF-SUPPORTING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO SERVE THE LORD'S CHURCH BY PROVIDING FOOD, SHELTER, EDUCATION, AND OCCUPATIONAL TRAINING FOR THOSE IN NEED IN ROCKINGHAM COUNTY, NORTH CAROLINA AND BEYOND AS THE LORD SO LEADS.


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Board, Officers & Key Employees

Name (title)Compensation
Martin Roberts
Executive Dir.
$55,900
Patricia Settle
Director
$0
Craig Barnes
Director
$0
Leanna Lawson
Director
$0
David Gullotti
Director
$0
Stephen Hinton
President
$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$134,129
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$134,129
Total Program Service Revenue$145,446
Investment income $5
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $35,265
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $340,521

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