Psalm 25 10 Foundation
- Assets
- $78.0m
- Revenue
- -$11.3m
- Investments
- $51.6m
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 11/2008
- Data as of
- 12/2022
- EIN
- 20-4128717
Organization Overview
Psalm 25 10 Foundation is located in Fort Worth, TX. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Psalm 25 10 Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2014, Psalm 25 10 Foundation has awarded 78 individual grants totaling $17,968,856. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Shanks President/director | 1 | $0 | |
Derek Holmes Director | 1 | $0 | |
Glenn Hodge Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $630 |
| Dividends & Interest | $1,537,654 |
| Net Rental Income | $910 |
| Net Gain on Sale of Assets | -$11,071,213 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$1,765,425 |
| Total Revenue | -$11,287,860 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $49,898 |
| Taxes | $588,944 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $790,710 |
| Contributions, gifts, grants paid | $3,105,000 |
| Total expenses and disbursements | $3,895,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $250,106 |
| 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 | $21,788,270 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,383,333 |
| Net Land, buildings, and equipment | $5,579,454 |
| Other assets | -$1,171,151 |
| Total assets | $78,015,483 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Psalm 25 10 Foundation has awarded $3,105,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
PREGNANCY HELP CENTER OF FORT WORTH PURPOSE: GENERAL FUND | $10,000 |
TRAVIS AVENUE BAPTIST CHURCH PURPOSE: GENERAL FUND | $400,000 |
HANNIBAL LAGRANGE UNIVERSITY PURPOSE: GENERAL FUND | $50,000 |
REVIVE OUR HEARTS PURPOSE: GENERAL FUND | $20,000 |
FELLOWSHIP OF CHRISTIAN ATHLETES PURPOSE: GENERAL FUND | $10,000 |
MERIDIAN UNIVERSITY FOR BIBLICAL TRAINING PURPOSE: GENERAL FUND | $100,000 |