World Covenant Ministries Inc
- Assets
- $2.2m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 41
- Location
- Haltom City, TX
- Founding
- 01/2012
- Data as of
- 12/2022
- EIN
- 27-2156316
Organization Overview
World Covenant Ministries Inc is located in Haltom City, TX. The organization was established in 2012. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2022, World Covenant Ministries Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Covenant 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 12/2022, World Covenant Ministries Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $2.7m during the year ending 12/2022. While expenses have increased by 12.0% 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.
Since 2014, World Covenant Ministries Inc has awarded 36 individual grants totaling $457,387. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WORLD COVENANT MINISTRIES IS ORGANIZED TO PROCLAIM THE GOOD NEWS OF THE LORD JESUS CHRIST THROUGH EFFECTIVE HAND-ON AND APPLIED MINISTRY TO THE WHOLE PERSON. THE MINISTRY HELPS WITH DISASTER RELIEF, ASSISTING THE ECONOMICALLY DISADVANTAGED, AND PROVIDING SPIRITUAL ENCOURAGEMENT THROUGH PREACHING AND TEACHING THE GOSPEL OF JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORLD COVENANT MINISTRIES OPENED THE JOSEPH STOREHOUSE (TJS) IN OCTOBER 2011. TJS IS A HUNGER RELIEF CENTER MEETING THE NEEDS OF ECONOMICALLY DISADVANTAGED FAMILIES IN THE TARRANT COUNTY AREA BY PROVIDING GROCERIES AND HOUSEHOLD ITEMS FOR SUGGESTED CONTRIBUTIONS AND BREAD FOR FREE. IN 2022, MORE THAN 18,069 PEOPLE WERE ASSISTED THROUGH THE HUNGER REFLIEF CENTER. AT FAMILY FUN DAY, WE PROVIDED 750 FREE MEALS AND AT BACK TO SCHOOL BASH, SUPPLIES AND BIBLES WERE GIVEN TO 180 CHILDREN. ADDITIONALLY, 1800 TOYS WERE GIVEN AWAY AS CHRISTMAS GIFTS FOR 450 CHILRDEN AND 174 TURKEYS FOR CHRISTMAS DINNER
CHAPEL SERVICE ON SUNDAYS TO PREACH AND SPREAD THE GOSPEL. ADDITIONALLY, WE HOSTED VARIOUS CONFERENCES AND CLASSES TO TEACH VALUES ACCORDING TO THE SCRIPTURES. IN 2022 MORE THAN 52 SUNDAY SERVICES, 26 CHAPEL SERVICES, 24 STUDIES FOR WOMEN OF COMMUNITY, IRON MAN BIBLE STUDY HELD 15 MEETINGS,AND OVER 451 PEOPLE CAME TO CHRIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Westberry President | Officer | 40 | $180,000 |
Kim Westberry Vice President | Officer | 40 | $90,000 |
Robert Westberry Director | Trustee | 15 | $13,000 |
Lindy Pilgrim Director | Trustee | 2 | $0 |
Brandon Sims Director | Trustee | 2 | $0 |
John Copeland Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $90,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,266,209 |
| Noncash contributions included in lines 1a–1f | $2,063,493 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,356,209 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $575,344 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,931,553 |
| 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. | $247,681 |
| Compensation of current officers, directors, key employees. | $46,917 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $405,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,739 |
| Payroll taxes | $38,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,250 |
| Fees for services: Accounting | $10,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,230 |
| Office expenses | $63,469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,727 |
| Travel | $1,560 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $169,005 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,106 |
| All other expenses | $270,302 |
| Total functional expenses | $2,746,849 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,486 |
| Savings and temporary cash investments | $18,494 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,920 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $453,945 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,622,928 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,287 |
| Total assets | $2,176,060 |
| Accounts payable and accrued expenses | $42,045 |
| Grants payable | $0 |
| Deferred revenue | $21,544 |
| 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 | $1,603,657 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,667,246 |
| Net assets without donor restrictions | $508,814 |
| 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 | $2,176,060 |
Grants Awarded
Over the last fiscal year, World Covenant Ministries Inc has awarded $118,835 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE FOR ETERNITY | | | $24,000 |
LIFE UNLIMITED | | | $6,330 |
HOPE HOUSE | | | $22,500 |
MISC | | | $46,061 |
KENNETH COPELAND MINISTRIES | | | $19,944 |