Monteagle Assembly Endowment Fund Corporation
- Assets
- $7.1m
- Revenue
- $926.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Monteagle, TN
- Founding
- 09/1975
- Data as of
- 12/2021
- EIN
- 23-7135066
Organization Overview
Monteagle Assembly Endowment Fund Corporation is located in Monteagle, TN. The organization was established in 1975. 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. Monteagle Assembly Endowment Fund Corporation 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 12/2021, Monteagle Assembly Endowment Fund Corporation generated $926.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $260.5k during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MONTEAGLE ASSEMBLY ENDOWMENT FUND WAS INCORPORATED ON JULY 10,1959, FOR THE PURPOSE OF SOLICITING AND ACCEPTING GIFTS, GRANTS, DEVICES, AND BEQUESTS IN AID AND FURTHERANCE OF THE OBJECTIVES AND PURPOSES OF MONTEAGLE SUNDAY SCHOOL ASSEMBLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSFERS TO MONTEAGLE SUNDAY SCHOOL ASSEMBLY - RELIGIOUS AND EDUCATIONAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Smith President | OfficerTrustee | 1 | $0 |
Clinton Bailey Secretary | OfficerTrustee | 1 | $0 |
Hilson Merrill Vice President | OfficerTrustee | 1 | $0 |
John Malone Treasurer | OfficerTrustee | 1 | $0 |
Dianne Lloyd Trustee | Trustee | 1 | $0 |
Frannie Corzine Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,716 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,716 |
| Total Program Service Revenue | $0 |
| Investment income | $711,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $120,685 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $926,940 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $232,214 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,299 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $260,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $406,864 |
| 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 | $6,646,094 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2 |
| Total assets | $7,052,960 |
| 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 | $1,559,211 |
| Net assets with donor restrictions | $5,493,749 |
| 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 | $7,052,960 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Monteagle Assembly Endowment Fund Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: ($5,000 FOR THE ENDOWMENT AND $5,000 FOR THE ANNUAL FUND) | $10,000 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: ($5,000 DESIGNATED FOR THE ENDOWMENT AND $5,000 DESIGNATED FOR THE ANNUAL FUND) | $10,000 |
Endowment Analysis
| Beg. Balance | $3,986,131 |
| Earnings | $299,553 |
| Admin Expense | $19,018 |
| Net Contributions | $211,268 |
| Grants | $170,416 |
| Ending Balance | $4,307,518 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Operation Compassion A Tennessee Non-Profit Corporation Cleveland, TN | $18,764,537 | $70,147,882 |
United Faith Ministries Inc Norfolk, VA | $10,805,826 | $50,029,760 |
Answers In Genesis Inc Petersburg, KY | $94,175,549 | $47,216,237 |
Ministry Health Care Inc St Louis, MO | $291,511,056 | $25,156,032 |
Martha Obryan Center Inc Nashville, TN | $41,203,339 | $31,115,116 |
Ravi Zacharias International Ministries Norcross, GA | $12,439,416 | $25,742,588 |
Inspiritus Inc Atlanta, GA | $4,563,820 | $17,981,504 |
Rescue Missions Ministries Inc Durham, NC | $22,198,926 | $18,805,895 |
Lifeshape Inc Atlanta, GA | $41,056,311 | $15,846,732 |
Haggai International Institute For Advanced Leadership Training Inc Peachtree Corners, GA | $41,354,774 | $16,620,781 |
Haven Of Our Lady Of Peace Inc St Louis, MO | $8,612,583 | $10,375,484 |
Elam Ministries Inc Alpharetta, GA | $5,679,728 | $12,042,641 |