Homes Of Love Inc
- Assets
- $555.7k
- Revenue
- $681.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Knoxville, TN
- Founding
- 09/2002
- Data as of
- 12/2022
- EIN
- 62-1852652
Organization Overview
Homes Of Love Inc is located in Knoxville, TN. The organization was established in 2002. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Homes Of Love Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homes Of Love 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, Homes Of Love Inc generated $681.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $694.8k during the year ending 12/2022. While expenses have increased by 6.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHES AND MAINTAINS SMALL, PERMANENT, FAMILY STRUCTURED HOMES FOR ORPHANED AND AT-RISK CHILDREN IN CAMBODIA, VIETNAM, AND ZIMBABWE. HOMES OF LOVE, INC. IS COMMITTED TO PROVIDING LONG-TERM CARE TO THESE CHILDREN EMOTIONALLY, PHYSICALLY, EDUCATIONALLY AND SPIRITUALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FAMILY-STRUCTURED HOMES FOR AT-RISK CHILDREN IN CAMBODIA, VIETNAM, AND ZIMBABWE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Chesney Executive Di | Officer | 32 | $74,038 |
Tim Basch Director | Trustee | 1 | $0 |
Joyce Bell Director | Trustee | 1 | $0 |
Gary Chesney President | OfficerTrustee | 1 | $0 |
Amy Denning Director | Trustee | 1 | $0 |
Veronica Douglass 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 | $680,421 |
| Noncash contributions included in lines 1a–1f | $1,123 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $680,421 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $681,406 |
| 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 | $403,446 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $74,038 |
| Compensation of current officers, directors, key employees. | $13,327 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,729 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,000 |
| Office expenses | $1,565 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,312 |
| Travel | $27,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,040 |
| Insurance | $0 |
| All other expenses | $15,904 |
| Total functional expenses | $694,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,030 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $33,507 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,108 |
| Inventories for sale or use | $965 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $17,072 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $225,031 |
| Total assets | $555,713 |
| Accounts payable and accrued expenses | $144,631 |
| 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 | $0 |
| Total liabilities | $144,631 |
| Net assets without donor restrictions | $411,082 |
| 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 | $555,713 |