Civic Intelligence

Love Chatham

990 • Fiscal year 2023 • EIN 86-1481922

Jan 01, 2023 to Dec 31, 2023 • Filed on May 03, 2024

421 N Holly AvenueSiler City, NC 27344

(919) 726-9976

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.66x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • NTEE P60 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

0.81x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • NTEE P60 • <$500k nonprofits • Source year 2023

Net Margin

77th percentile

32%

Higher net margin than 77% of similar nonprofits.

2023 filings • NTEE P60 • <$500k nonprofits • Source year 2023

Top Officer Pay

97th percentile

$42,068

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 16.3% of source-year revenue.

2023 filings • NTEE P60 • <$500k nonprofits • Source year 2023

Asset Growth

99th percentile

1047%

Faster asset growth than 99% of similar nonprofits.

2023 filings • NTEE P60 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

201%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • NTEE P60 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$319,932

Up $292,051 (+1047%) from 2022

Net Assets

Up

$110,081

Up $82,200 (+295%) from 2022

Liabilities

Up

$209,851

Up $209,851 from 2022

Revenue

Up

$258,776

Up $172,738 (+201%) from 2022

Expenses

Up

$176,576

Up $77,670 (+79%) from 2022

Net Income

Up

$82,200

Up $95,068 (+739%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2021: $40,749Liabilities 2021: $0Net Assets 2021: $40,7492021Assets 2022: $27,881Liabilities 2022: $0Net Assets 2022: $27,8812022Assets 2023: $319,932Liabilities 2023: $209,851Net Assets 2023: $110,0812023Assets 2024: $367,199Liabilities 2024: $200,878Net Assets 2024: $166,3212024Assets 2025: $309,550Liabilities 2025: $189,857Net Assets 2025: $119,6932025

Highlighted filing

2023

Assets$319,932
Liabilities$209,851
Net Assets$110,081

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2021: $84,223Expenses 2021: $43,474Net Income 2021: $40,7492021Revenue 2022: $86,038Expenses 2022: $98,906Net Income 2022: -$12,8682022Revenue 2023: $258,776Expenses 2023: $176,576Net Income 2023: $82,2002023Revenue 2024: $262,126Expenses 2024: $205,886Net Income 2024: $56,2402024Revenue 2025: $234,191Expenses 2025: $280,819Net Income 2025: -$46,6282025

Highlighted filing

2023

Revenue$258,776
Expenses$176,576
Net Income$82,200
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 3, 2024
Return Version
2023v5.0
Gross Receipts
$262,342
Mission and Program Overview

Mission

Love Chatham is a 501(c)3 non-profit organization established to help with homelessness in the Chatham County area. It will be a common banner under which the churches, individuals, and businesses can work together, specifically to centralize the many talents and resources available and put them into action to alleviate homelessness and other needs. Our first focus will be homelessness, but we hope to continue the work of charity and healing in the future by joining, connecting with, or establishing help for hunger, clothing, healthcare, financial planning, and spiritual counseling.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,172$245,366▲ $238,194
Cash and Non-Interest-Bearing Accounts$20,709$73,813▲ $53,104
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$27,881$319,932▲ $292,051
Other Assets Total-$753-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$209,851-
Total Liabilities$0$209,851▲ $209,851
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$27,881$110,081▲ $82,200
Total Net Assets Fund Balance$27,881$110,081▲ $82,200
Total Liabilities and Net Assets / Fund Balance$27,881$319,932▲ $292,051

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$231,925$7,622$239,547
Equipment$13,441$2,935$16,376
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dakota PhilbrickExecutive DirectorFT$42,068$42,068

Board Members and Trustees

NameTitle
Ben SuggsPresident
Donald SouthernDirector
Sandee DavisDirector
Patricia NellumsSecretary
Tom RoswickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$238,936
Program Service Revenue
$20,000
Investment Income
$-3,566
Other Revenue
$3,406
All Other Contributions
$238,936
Change in Net Assets
$82,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,646
Salaries, Compensation, and Employee Benefits$55,930
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$45,610--$45,610
All Other Expenses$15,127$2,466-$17,593
Interest$10,705--$10,705
Depreciation Depletion$10,302--$10,302
Other Salaries and Wages$5,307$2,770-$8,077
Fees for Services Accounting$2,482$3,777-$6,259
Other Expenses$6,227--$6,227
Information Technology$2,640$1,409-$4,049
Insurance$1,355$2,295-$3,650
Payroll Taxes$1,474$769-$2,243
Fees for Services Other$814$257-$1,071
Advertising-$387-$387
Office Expenses$25$222-$247
Conferences and Meetings-$50-$50
Total Functional Expenses$162,174$14,402$0$176,576
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Love Chatham
EIN
86-1481922
Phone
9197269976
Address
421 N Holly Avenue, Siler City, NC 27344

Signing Officer

Name
Ben Suggs
Title
President
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Suggs
Formed
2021
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
60

Preparer

Firm
Buffalo Finances
Address
326 West St, Pittsboro, NC 27312
Preparer
Michael D McCall
Phone
9195425228
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Transitional Housing: This program provides additional support for community members that are stabilizing and seeking permanent housing. This program offers more thorough casework and resources, and promotes the interests of the community member by using a housing first model as the appropriate starting point for stability. The House Manager regularly provides updates to community partners as well as a monthly summary of progress and casework. This program has some significant momentum and the path forward for more housing is being created through this program. Our first house that was setup and established at the end of 2023 is a women's transitional housing program also known a "Our House". Love Chatham is considering opportunities to expand its services through the program and developing additional capacity to serve by developing programs under this umbrella that will serve men and/or family units.

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Rental/Utility Assistance: Love Chatham seeks to provide some direct monetary resources, when available, when clients have a need that is unmet by other area programs or in collaboration with other programs. Love Chatham qualifies for the Emergency Housing Funds through Chatham County (EHF) and at times will be able to work with clients to meet even more needs through this available path of funding. The majority of our emergency resources are focused on emergency housing needs and the rental/utility assistance is preventative in nature. We can often prevent homelessness by intervening with direct resources to alleviate a challenge being experienced financially. OTHER PROGRAM SERVICES 5: Emergency Client Assistance: Love Chatham provides other, miscellaneous, emergency assistance when resources are available. There are many ways in which these resources may be utilized. For example, clients have been provided with much needed car repairs, gas in their vehicle, moving expenses and other ways in which Love Chatham can assist a client in need during a vulnerable time. OTHER PROGRAM SERVICES 6: Furniture Ministry/Moving Assistance: We accept donations of new or used furniture and various household items to furnish new housing opportunities for clients in transition. These are redistributed to community members who have no furniture and are transitioning from homelessness. We also partner with social workers within the Chatham County school system and identify school aged students whose family may have furniture related needs, especially beds. Love Chatham has provided furniture to 120 families and individuals since the inception of this program. We have a box truck that was donated to our program that we're able to use to go get furniture and drop it off of our clients.

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IRS990/ProgSrvcAccomActy2Grp/Desc0Transitional Housing: This program provides additional support for community members that are stabilizing and seeking permanent housing. This program offers more thorough casework and resources, and promotes the interests of the community member by using a housing first model as the appropriate starting point for stability. The House Manager regularly provides updates to community partners as well as a monthly summary of progress and casework. This program has some significant momentum and the path forward for more housing is being created through this program. Our first house that was setup and established at the end of 2023 is a women's transitional housing program also known a "Our House". Love Chatham is considering opportunities to expand its services through the program and developing additional capacity to serve by developing programs under this umbrella that will serve men and/or family units.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt043685
IRS990/ProgSrvcAccomActy3Grp/Desc0Rental/Utility Assistance: Love Chatham seeks to provide some direct monetary resources, when available, when clients have a need that is unmet by other area programs or in collaboration with other programs. Love Chatham qualifies for the Emergency Housing Funds through Chatham County (EHF) and at times will be able to work with clients to meet even more needs through this available path of funding. The majority of our emergency resources are focused on emergency housing needs and the rental/utility assistance is preventative in nature. We can often prevent homelessness by intervening with direct resources to alleviate a challenge being experienced financially.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt023922
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02935
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Transitional Housing: This program provides additional support for community members that are stabilizing and seeking permanent housing. This program offers more thorough casework and resources, and promotes the interests of the community member by using a housing first model as the appropriate starting point for stability. The House Manager regularly provides updates to community partners as well as a monthly summary of progress and casework. This program has some significant momentum and the path forward for more housing is being created through this program. Our first house that was setup and established at the end of 2023 is a women's transitional housing program also known a "Our House". Love Chatham is considering opportunities to expand its services through the program and developing additional capacity to serve by developing programs under this umbrella that will serve men and/or family units.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER PROGRAM SERVICES 4: Rental/Utility Assistance: Love Chatham seeks to provide some direct monetary resources, when available, when clients have a need that is unmet by other area programs or in collaboration with other programs. Love Chatham qualifies for the Emergency Housing Funds through Chatham County (EHF) and at times will be able to work with clients to meet even more needs through this available path of funding. The majority of our emergency resources are focused on emergency housing needs and the rental/utility assistance is preventative in nature. We can often prevent homelessness by intervening with direct resources to alleviate a challenge being experienced financially. OTHER PROGRAM SERVICES 5: Emergency Client Assistance: Love Chatham provides other, miscellaneous, emergency assistance when resources are available. There are many ways in which these resources may be utilized. For example, clients have been provided with much needed car repairs, gas in their vehicle, moving expenses and other ways in which Love Chatham can assist a client in need during a vulnerable time. OTHER PROGRAM SERVICES 6: Furniture Ministry/Moving Assistance: We accept donations of new or used furniture and various household items to furnish new housing opportunities for clients in transition. These are redistributed to community members who have no furniture and are transitioning from homelessness. We also partner with social workers within the Chatham County school system and identify school aged students whose family may have furniture related needs, especially beds. Love Chatham has provided furniture to 120 families and individuals since the inception of this program. We have a box truck that was donated to our program that we're able to use to go get furniture and drop it off of our clients.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/USAddress/AddressLine1Txt0421 N Holly Avenue
IRS990/USAddress/CityNm0Siler City
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027344
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ben Suggs
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Love Chatham
ReturnHeader/Filer/BusinessNameControlTxt0LOVE

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