LOVE INC OF STAUNTON WAYNESBORO AN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Phone

5402212955

Tax Period

2024-01-01 to 2024-12-31

LOVE INC OF STAUNTON WAYNESBORO AND AUGUSTA, founded in 2012, is a community nonprofit in the Human Services sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

FAITH-BASED SERVICES FOR THE NEEDY MOBILIZING CHURCHES TO TRANSFORM LIVES AND COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $532,445

SEE SCH O

Program 2

Expenses: $311,078

IN 2024, OUR ORGANIZATION CONTINUED TO OPERATE TWO RETAIL STORES. DUE TO REBRANDING CHANGES WE RENAMED THE STORES TO FISHERSVILLE AND STUARTS DRAFT THRIFT. THESE STORE SERVE AS AN INTEGRAL COMPONENTS OF OUR MINISTRY, CONTRIBUTING IN MULTIPLE WAYS TO OUR MISSION SUCH AS SPREADING LOVE AND SUPPORT WITHIN OUR COMMUNITY. THEY PLAY A CRUCIAL ROLE IN PROVIDING A SIGNIFICANT REVENUE STREAM TO SUPPORT MINISTRY EFFORTS. LISTED AS ONE OF OUR ACCOMPLISHMENTS IN 2024 WE HAVE BEEN ABLE TO OPEN A THIRD STORE IN THE AREA THAT WE HAVE SERVED MANY NEIGHBORS WITH NEEDS.

Program 3

Expenses: $142,357

AS PART OF OUR ONGOING MISSION TO MOBILIZE LOCAL CHURCHES, LOVE INC STAUNTON, WAYNESBORO, AUGUSTA IS EXPANDING ITS OUTREACH EFFORTS BY OPENING A THIRD THRIFT STORE IN AN AREA WHERE WE ALREADY PROVIDE SIGNIFICANT SUPPORT TO INDIVIDUALS AND FAMILIES IN NEED. THIS EXPANSION ALIGNS WITH OUR COMMITMENT TO OFFERING PRACTICAL ASSISTANCE WHILE FOSTERING SUSTAINABILITY AND SELF-SUFFICIENCY. THE NEW THRIFT STORE WILL SERVE AS BOTH A RESOURCE FOR AFFORDABLE CLOTHING, HOUSEHOLD GOODS, AND ESSENTIAL ITEMS FOR LOW-INCOME INDIVIDUALS AND FAMILIES, AS WELL AS A FUNDING SOURCE FOR OUR PROGRAMS. BY REINVESTING PROCEEDS FROM THE STORE INTO OUR COMMUNITY-BASED INITIATIVES, WE CAN ENHANCE OUR ABILITY TO PROVIDE FINANCIAL ASSISTANCE, MENTORING, AND OTHER SUPPORTIVE SERVICES. IN ADDITION TO ITS ECONOMIC IMPACT, THE STORE WILL SERVE AS A HUB FOR COMMUNITY ENGAGEMENT, OFFERING VOLUNTEER OPPORTUNITIES, JOB TRAINING PROGRAMS, AND A WELCOMING SPACE FOR INDIVIDUALS SEEKING A FRESH START.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $355,719

Program Service Revenue $775,453

Investment Income $1,203

Other Revenue $0

TOTAL REVENUE $1,132,375

Expense Breakdown

Grants Paid $0

Salaries & Benefits $781,486

Fundraising Expenses $7,916

Program Expenses $1,010,937

Other Expenses $366,981

TOTAL EXPENSES $1,148,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,132,375	$880,819	+0.3%
Expenses	$1,148,467	$842,259	+0.4%
Net Income	$-16,092	$38,560	-1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

163

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$57,721

Total Directors

$170,267

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEBRAH RAMSEY	EXECUTIVE DIRECTOR	40.00	Officer Director	$57,721	$0	$57,721
WILLIAM ROBERTS	MINISTRY DIRECTOR	40.00	Director	$57,275	$0	$57,275
ETHAN COLVIN	OPERATIONS DIRECTOR	40.00	Director	$55,271	$0	$55,271
SCOTT BRODD	BOARD MEMBER	0.00	Director	$0	$0	$0
STACEY BURKHOLDER	BOARD MEMBER	0.00	Director	$0	$0	$0
STEVE CAMPBELL	BOARD MEMBER	0.00	Director	$0	$0	$0
VERONICA DAVIS	BOARD MEMBER	0.00	Director	$0	$0	$0
BEN HALTERMAN	BOARD MEMBER	0.00	Director	$0	$0	$0
RODNEY MARTIN	BOARD MEMBER	0.00	Director	$0	$0	$0
MARIE MASINCUP	BOARD MEMBER	0.00	Director	$0	$0	$0
JOANNE SHIRLEY	BOARD MEMBER	0.00	Director	$0	$0	$0
TIM HARRISON	SECRETARY	0.00	Officer Director	$0	$0	$0
CALEB HARLOW	BOARD CO-CHAIR	0.00	Officer Director	$0	$0	$0
SHANE LILLY	BOARD CHAIR	0.00	Officer Director	$0	$0	$0
SHARON WOOD	BOARD SECRETARY	0.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,132,375	$1,148,467	$251,847	$-16,092
2023	$880,819	$842,259	$265,166	$38,560
2022	$659,489	$710,810	$225,270	$-51,321
2021	$694,238	$555,203	$288,395	$139,035
2020	$469,945	$475,903	$152,229	$-5,958
2019	$453,270	$423,612	$155,235	$29,658
2018	$360,531	$383,226	$122,033	$-22,695

LOVE INC OF STAUNTON WAYNESBORO AND AUGUSTA