Praise Him Ministries Inc
- Assets
- $7.8m
- Revenue
- $2.5m
- Investments
- $3.0m
- Employees
- 0
- Location
- Ridgway, CO
- Founding
- 05/2003
- Data as of
- 06/2022
- EIN
- 03-0410199
Organization Overview
Praise Him Ministries Inc is located in Ridgway, CO. The organization was established in 2003. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Praise Him Ministries 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 06/2022, Praise Him Ministries Inc generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Praise Him Ministries Inc has awarded 25 individual grants totaling $334,527. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ADDITION TO PREPARING FOR THE MINISTRY'S SIGNATURE CONCERT EVENT, NIGHTVISION, HELD IN JULY OF 2022, THE FOUNDATION PRODUCED TWO CONCERT EVENTS, RISE-UP AND COWBOY-UP FOR CHRIST. THESE EVENTS FOSTERED CHRISTIAN PRAISE, TEACHING, WORSHIP, AND EVANGELIZING. IN TOTAL APPROXIMATELY 7,270 PEOPLE ATTENDED THESE COMBINED EVENTS.
THE FOUNDATION PRODUCES ACTIVITIES FOCUSED ON FELLOWSHIP, OUTREACH, AND EDUCATION. THESE ACTIVITIES ARE DEDICATED TO MINISTERING TO AND TEACHING THE CHRISTIAN COMMUNITY. FOUR SUCH EVENTS WERE PRODUCED DURING THE YEAR, INCLUDING THE ANNUAL THANKSGIVING DINNER AND SEDER. IN TOTAL APPROXIMATELY 790 PEOPLE ATTENDED THESE COMBINED EVENTS.
THE FOUNDATION STAFFED AND MAINTAINED THE RIDGWAY CHRISTIAN CENTER (RCC) DEDICATED TO CHRISTIAN EVANGELIZING, PREACHING, TEACHING, WORSHIP AND RELATED CHRISTIAN RECREATION ACTIVITIES FOR YOUTH AND ADULTS. IN ADDITION TO ATTENDANCE AT SPECIFIC PROGRAMS AND EVENTS HELD AT RCC, ON AVERAGE 9 CHILDREN PER DAY UTILIZED RCC'S YOUTH CENTER AND ITS RESOURCES FROM THE PERIOD 07/01/21 TO 06/30/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Reagor Director | 1.5 | $0 | |
Matthew Dragoun Board Member | 0.75 | $0 | |
Jorge Hernandez Executive Di | 40 | $90,865 | |
Nazareth Rizkallah Board Member | 0.75 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western Slope Executive Protection | 6/29/22 | $210,334 |
Nc Entertainment Group Et Al | 6/29/22 | $449,948 |
Brimstone Services Inc | 6/29/22 | $63,221 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,436,571 |
| Interest on Savings | $572 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $2,373 |
| Other Income | $97,806 |
| Total Revenue | $2,537,322 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $90,865 |
| Other employee salaries and wages | $133,791 |
| Pension plans, employee benefits | $23,873 |
| Interest | $770 |
| Taxes | $2,052 |
| Depreciation | $97,296 |
| Occupancy | $69,326 |
| Travel, conferences, and meetings | $66,848 |
| Printing and publications | $0 |
| Other expenses | $784,530 |
| Total operating and administrative expenses | $1,453,838 |
| Contributions, gifts, grants paid | $177,170 |
| Total expenses and disbursements | $1,631,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,737 |
| Savings and temporary cash investments | $621,022 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $386,025 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,294,408 |
| Other assets | $259,006 |
| Total assets | $7,754,715 |
| Accounts payable and accrued expenses | $187,862 |
| Grants payable | $0 |
| Deferred revenue | $10,315 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $10,560 |
| Total liabilities | $208,737 |
Grants Awarded
Over the last fiscal year, Praise Him Ministries Inc has awarded $177,170 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ADULT & TEEN CHALLENGE MINISTRIES PURPOSE: SEE ATTACHED STMT 21 | $1,000 |
CAMBRIA CALVARY CHAPEL PURPOSE: SEE ATTACHED STMT 21 | $15,000 |
CALVARY CHAPEL COSTA MESA PURPOSE: SEE ATTACHED STMT 21 | $15,000 |
COLORADO WEST CHRISTIAN SCHOOL PURPOSE: SEE ATTACHED STMT 21 | $6,000 |
COLORADO CHRISTIAN UNIVERSITY PURPOSE: SEE ATTACHED STMT 21 | $50,000 |
COMPASSION INTERNATIONAL MINISTRY PURPOSE: SEE ATTACHED STMT 21 | $1,620 |