Lot 2540 Incorporated
- Assets
- $153.4k
- Revenue
- $329.7k
- Investments
- $0.0
- Employees
- 12
- Location
- Summerfield, NC
- Founding
- 04/2012
- Data as of
- 12/2021
- EIN
- 45-2387075
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 12/2021, Lot 2540 Incorporated employed 12 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 12/2021, Lot 2540 Incorporated generated $329.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $298.7k during the year ending 12/2021. While expenses have increased by 9.7% 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
L.O.T. 2540 LOOKS TO ESTABLISH A CAMPUS TO SUPPORT MINISTRIES THAT PROMOTE PHYSICAL AND SPIRITUAL HEALING FOR FAMILIES IN ROCKINGHAM COUNTY, NC. THE CORE OF THE MINISTRY WILL BE COMPRISED OF A COUNSELING/PRAYER CENTER. THIS AREA WILL SERVE THE SPIRITUAL NEEDS OF THOSE WE SERVE AS WELL AS OFFER INCUBATION SPACE FOR UPSTART NON-PROFITS WHOSE CORE MISSION IS IN ALIGNMENT WITH L.O.T. 2540.THE CORE MINISTRIES WILL BE SUPPORTED BY A RETAIL SPACE THAT WILL INCLUDE A SALVAGE AND RECYCLING STORE SPECIALIZING IN ARCHITECTURAL SALVAGE. THE STORE WILL NOT ONLY OFFER FINANCIAL SUPPORT TO L.O.T. 2540 BUT WILL BE UTILIZED TO FACILITATE VOCATIONAL TRAINING AND LEADERSHIP TRAINING FOR "IN TRANSITION" INDIVIDUALS. OTHER MINISTRIES, DIRECTED TOWARD THOSE WHO ARE STRUGGLING ECONOMICALLY, WILL INCLUDE A "FREE STORE" (CLOTHING, FURNISHINGS, FOOD ITEMS, ETC.) AND A FOOD PANTRY SUPPORTED BY A COMMUNITY GARDEN.L.O.T. 2540 WILL CONTINUE TO MENTOR AND SUPPORT OTHER OPPORTUNITIES TO HELP CLIENTS TO BECOME SELF-SU
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) | Role | Hours | Compensation |
|---|---|---|---|
Martin Roberts Executive Dir. | Officer | 40 | $59,500 |
Stephen Hinton President | OfficerTrustee | 1 | $0 |
Brett Koceja Treasurer | OfficerTrustee | 1 | $0 |
James Roberts Secretary | OfficerTrustee | 1 | $0 |
Patricia Settle Director | Trustee | 1 | $0 |
Craig Barnes Director | Trustee | 1 | $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 | $132,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,985 |
| Total Program Service Revenue | $133,163 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,458 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $329,665 |
| 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. | $59,500 |
| Compensation of current officers, directors, key employees. | $14,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $116,235 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,767 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,483 |
| Office expenses | $0 |
| Information technology | $1,530 |
| Royalties | $0 |
| Occupancy | $51,012 |
| Travel | $2,397 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $821 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,614 |
| All other expenses | $9,372 |
| Total functional expenses | $298,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,520 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,414 |
| 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 | $0 |
| Net Land, buildings, and equipment | $33,300 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $154 |
| Total assets | $153,388 |
| Accounts payable and accrued expenses | $13,900 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,823 |
| Total liabilities | $23,723 |
| Net assets without donor restrictions | $129,665 |
| 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 | $153,388 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lot 2540 Incorporated has recieved totaling $680,844.
| Awarding Organization | Amount |
|---|---|
Second Harvest Food Bank Of Northwest North Carolina Inc Winston Salem, NC PURPOSE: FEEDING THE POOR AND | $679,347 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $1,380 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $117 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |