Faithhealth Innovations Inc
- Assets
- $567.2k
- Revenue
- $412.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 12/1975
- Data as of
- 12/2022
- EIN
- 23-7426944
Organization Overview
Faithhealth Innovations Inc is located in Winston Salem, NC. 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. Faithhealth Innovations 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, Faithhealth Innovations Inc generated $412.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $253.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.4%) per year over the past 8 years. 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
OPENING DOORS TO HOPE AND WHOLENESS WITH FAITH COMMUNITIES, LAY LEADERS AND CLERGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES TECHNICAL, ACADEMIC, AND RESEARCH ASSISTANCE TO THE FAITHHEALTH DIVISION OF ATRIUM HEALTH WAKE FOREST BAPTIST AS PART OF THE MISSION TO IMPROVE ACCESS TO HEALTH SERVICES AND INDIVIDUALS' HEALTH STATUS THROUGH BUILDING AND ALIGNING COMMUNITY HEALTH ASSETS BEGINNING IN THE COMMUNTIES LIKELY TO BE SERVED BY THE MEDICAL CENTER. THE ORGANIZATION ALSO CONTINUES TO PROVIDE EDUCATIONAL, CONSULTING AND SUPPORT SERVICES TO CONGREGATIONS, DENOMINATIONS AND THEIR LEADERS. DURING THE FISCAL PERIOD ENDED DECEMBER 31, 2022, THE ORGANIZATION PROVIDED A MONTHLY AVERAGE OF NEARLY 100 CONSULTATION HOURS TO CONGREGATIONS, MINISTERS AND CHURCH-CENTERED AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Gary Gunderson Director, President | OfficerTrustee | 5 | $365,120 |
Bradley A Clark Treasurer | Officer | 0.1 | $1,335,054 |
J Mclain Wallace Jr Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $119,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,113 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,613 |
| Total Program Service Revenue | $221,459 |
| Investment income | $2,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $412,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $71,299 |
| 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 | $0 |
| Fees for services: Other | $141,425 |
| Advertising and promotion | $14,507 |
| Office expenses | $6,794 |
| Information technology | $19,180 |
| 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 | $253,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,883 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $202,146 |
| 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 | $110,217 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $567,246 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $14,744 |
| 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 | $14,744 |
| Net assets without donor restrictions | $552,502 |
| 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 | $567,246 |
Grants Awarded
Over the last fiscal year, Faithhealth Innovations Inc has awarded $32,767 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
GREEN STREET UNITED METHODIST CHURCH PURPOSE: TWIN CITY HARM REDUCTION COLLECTIVE INITIATIVE | $17,767 |
WILMINGTON CARENET COUNSELING CENTER PURPOSE: HURRICANE RELIEF | $5,000 |
FAYETTEVILLE FAMILY LIFE CENTER PURPOSE: HURRICANE RELIEF | $10,000 |