Church Loan Fund Inc
- Assets
- $45.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, TN
- Founding
- 05/2011
- Data as of
- 12/2021
- EIN
- 27-2313597
Organization Overview
Church Loan Fund Inc is located in Cleveland, TN. The organization was established in 2011. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, 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. Church Loan Fund 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 12/2021, Church Loan Fund Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVE AS A MANAGER AND ADMINISTRATOR OF CHURCH LOANS AND TO SERVE AS AN ORIGINATOR OF FIRST MORTGAGE CHURCH LOANS TO QUALIFIED CONGREGATIONS WITHIN THE CHURCH OF GOD, AN INTERNATIONAL RELIGIOUS DENOMINATION.
Describe the Organization's Program Activity:
TO ADMINISTER A LOAN PROGRAM FOR EXISTING AND FUTURE PARTICIPANTS OF THE CHURCH OF GOD MINISTERS' RETIREMENT PLAN AND AFFILIATED ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Mcpherson Vice Chairman | OfficerTrustee | 0.5 | $0 |
Travis Henry Chairman | OfficerTrustee | 0.5 | $0 |
Arthur Rhodes President/ceo | Officer | 0.5 | $0 |
Gayla Iles Vice President | Officer | 0.5 | $0 |
J Wayne Walston Board Member | Trustee | 0.5 | $0 |
Mareleney Rodriguez Board Member | Trustee | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $2,025,777 |
| 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 | $2,026,360 |
| 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. | $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 | $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 | $1,869,091 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,035,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,652,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,169,075 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,127,638 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,949,413 |
| 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 | $45,820,797 |
| Total liabilities | $45,820,797 |
| Net assets without donor restrictions | $128,616 |
| 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 | $45,949,413 |
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Wiseheart Foundation Memphis, TN | $10,743,867 | $6,206,349 |
Global Ministries Foundation Cordova, TN | $20,808,133 | $5,793,917 |
Heart For Africa Inc Roswell, GA | $1,675,421 | $4,060,144 |
Perception Funding Inc Kansas City, MO | $746,520 | $3,023,889 |
Mississippi United Methodist Foundation Inc Ridgeland, MS | $147,699,774 | -$799,975 |
National Christian Charitable Foundation Inc Knoxville, TN | $13,653,760 | $2,866,277 |
Church Loan Fund Inc Cleveland, TN | $45,949,413 | $2,026,360 |
Catholic Community Foundation Kansas City, MO | $9,563,701 | $3,058,896 |
Back To Jerusalem Inc Laurel, MS | $888,036 | $1,572,378 |