Faithworks Inc
- Assets
- $18.5k
- Revenue
- $230.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Winchester, VA
- Founding
- 06/2002
- Data as of
- 12/2022
- EIN
- 01-0551546
Organization Overview
Faithworks Inc is located in Winchester, VA. The organization was established in 2002. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Faithworks Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faithworks 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, Faithworks Inc generated $230.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $266.7k during the year ending 12/2022. While expenses have increased by 18.2% 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
RENEW COMMUNITIES AND THE LIVES OF INDIVIDUALS AND FAMILIES THAT LIVE IN THEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING ASSISTANCE CONSISTING PRIMARILY OF RENT AND UTILITIES TO FAMILIES IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Boulter President | OfficerTrustee | 1 | $24,923 |
Randal Moon Vice President | OfficerTrustee | 1 | $0 |
Reynard Ramsey Chairman | OfficerTrustee | 1 | $0 |
Susan Newton Rhodes Director | Trustee | 1 | $0 |
Takiesha Williams Director | Trustee | 1 | $0 |
Louis Bailey Jr Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $24,441 |
| All other contributions, gifts, grants, and similar amounts not included above | $193,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,510 |
| Total Program Service Revenue | $0 |
| Investment income | $287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $230,860 |
| 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. | $24,923 |
| Compensation of current officers, directors, key employees. | $2,492 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,100 |
| Payroll taxes | $4,293 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,274 |
| 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 | $273 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,966 |
| Travel | $1,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,783 |
| All other expenses | $516 |
| Total functional expenses | $266,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,501 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,501 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $18,501 |
| 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 | $18,501 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Faithworks Inc has recieved totaling $30,042.
| Awarding Organization | Amount |
|---|---|
United Way Of Northern Shenandoah Valley Winchester, VA PURPOSE: TO SUPPLEMENT THE EMERGENCY FINANCIAL ASSISTANCE PROGRAM (PAY IT FORWARD) AVAILABLE TO FAMILIES EXPERIENCING TEMPORARY CRISIS. FUNDS WILL SUPPORT ALICE FAMILIES IN PAYING RENT/MORTGAGE,UTILITIES, OR UTILITY PAYMENTS WHEN AN UNEXPECTED EMERGENCY OCCURS. | $20,000 |
The Nathan Cummings Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $42 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Community Investment Inc Columbia, MD | $513,664,307 | $100,404,144 |
Housing Affordability Trust Nashville, TN | $52,052,062 | $6,258,607 |
Washington Area Community Investment Fund Inc Washington, DC | $14,906,500 | $7,620,930 |
Eastern Eight Community Development Corporation Johnson City, TN | $18,111,272 | $3,788,608 |
St Josephs Villa Foundation Richmond, VA | $27,697,790 | $1,723,000 |
Captrust Community Foundation Inc Raleigh, NC | $4,464,164 | $1,082,695 |
Friends Of The Light House Shelter Inc Annapolis, MD | $129,412 | $360,459 |
Habitat For Humanity Of North Carolina Inc Raleigh, NC | $680,613 | $355,089 |
National Lutheran Home For The Aged Incorporated Frederick, MD | $91,975,330 | $1,994,503 |
Faithworks Inc Winchester, VA | $18,501 | $230,860 |
Danville Lions Foundation Inc Danville, VA | $3,088 | $202,004 |
Fayette County Citizens For Progress Inc Somerville, TN | $1,355,978 | $156,426 |