Lynchburg Covenant Fellowship Inc
- Assets
- $6.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 14
- Location
- Lynchburg, VA
- Founding
- 02/1971
- Data as of
- 12/2021
- 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 12/2021, Lynchburg Covenant Fellowship Inc employed 14 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 12/2021, Lynchburg Covenant Fellowship Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $756.5k during the year ending 12/2021. 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
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 | $93,159 |
Tina Barnes Secretary & Director | OfficerTrustee | 0.25 | $0 |
Terrell Cosby Treasurer & Director | OfficerTrustee | 0.25 | $0 |
Mike Daly Vice Pres. & Director | OfficerTrustee | 0.25 | $0 |
Gary E Harvey President & Director | OfficerTrustee | 0.25 | $0 |
William S Andrews 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 | $24,229 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,229 |
| Total Program Service Revenue | $504,849 |
| Investment income | $70,264 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $929,905 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,531,221 |
| 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. | $115,988 |
| Compensation of current officers, directors, key employees. | $30,157 |
| Compensation to disqualified persons | $334,119 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $12,641 |
| Other employee benefits | $71,975 |
| Payroll taxes | $32,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,589 |
| 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 | $0 |
| Office expenses | $20,170 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,222 |
| Travel | $748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,000 |
| Interest | $700 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,540 |
| Insurance | $14,110 |
| All other expenses | $0 |
| Total functional expenses | $756,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,174 |
| Savings and temporary cash investments | $1,133,530 |
| 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 | $2,106,615 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,140 |
| Net Land, buildings, and equipment | $482,149 |
| Investments—publicly traded securities | $2,743,028 |
| Investments—other securities | $0 |
| Investments—program-related | $36,754 |
| Intangible assets | $0 |
| Other assets | $5,711 |
| Total assets | $6,606,101 |
| Accounts payable and accrued expenses | $5,823 |
| 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 | $169,869 |
| Other liabilities | $7,873 |
| Total liabilities | $233,565 |
| Net assets without donor restrictions | $6,272,536 |
| 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 | $6,606,101 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lynchburg Covenant Fellowship Inc has recieved totaling $9,005.
| Awarding Organization | Amount |
|---|---|
Greater Lynchburg Community Foundation Lynchburg, VA PURPOSE: LCF MANAGEMENT OFFICE ROOF REPAIR | $9,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quantum Leap Incorporated Owings Mills, MD | $5,705,327 | $10,590,866 |
Refuge For Women Lexington, KY | $5,442,054 | $5,166,887 |
Lynchburg Covenant Fellowship Inc Lynchburg, VA | $6,606,101 | $1,531,221 |
Eagles Nest Transistional Living Inc Old Hickory, TN | $198,374 | $616,396 |
Northeast Mental Health Housing Inc Memphis, TN | $313,941 | $259,341 |
Shelby Oaks Housing Inc Memphis, TN | $348,849 | $205,780 |
Wesley Murray Meadow Inc Cordova, TN | $1,901,336 | $188,712 |
Genesco Long Term Disability Income Protection Plan Nashville, TN | $1,861,213 | $450,907 |
Volunteers Of America Inc Alexandria, VA | $916,826 | $182,308 |
E G P Inc Huntington, WV | $274,006 | $0 |
Northeast Housing Inc Memphis, TN | $586,268 | $363,265 |
Lynchburg Residential Services Inc Lynchburg, VA | $284,569 | $0 |