Believers Stewardship Services Inc
- Assets
- $15.4m
- Revenue
- $5.4m
- Investments
- $334.9k
- Employees
- 9
- Location
- Dubuque, IA
- Founding
- 10/2001
- Data as of
- 06/2022
- EIN
- 31-1782614
Organization Overview
Believers Stewardship Services Inc, operating under the name Legacy Ministry Services, is located in Dubuque, IA. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Legacy Ministry Services employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Ministry Services 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 06/2022, Legacy Ministry Services generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $5.6m during the year ending 06/2022. While expenses have increased by 3.1% 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.
Since 2015, Legacy Ministry Services has awarded 353 individual grants totaling $22,921,439. 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
ASSISTING CHRISTIAN BELIEVERS TO GLORIFY GOD THROUGH BIBLICAL STEWARDSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENDERING DONOR ADVISED FUND AND OTHER FUND MANAGEMENT SERVICES TO INDIVIDUALS, TRUSTS/ESTATES, AND ACTIVE OR DISSOLVED CHURCHES/MINISTRIES, PROVIDING CHURCHES AND OTHER MINISTRIES WITH CORPORATE GOVERNANCE, AND ASSISTING CHURCHES WITH ASSET DISSOLUTION DURING THE YEAR.
RENDERING OR PAYING OTHER VENDORS TO RENDER TAX PREPARATION SERVICES TO INDIVIDUALS (INCLUDING MISSIONARIES, AND MINISTERS OF THE GOSPEL), TRUSTS AND ESTATES, AND A FEW CHARITABLE ORGANIZATIONS.
RENDERING ESTATE PLANNING SERVICES (E.G., ASSISTANCE IN THE PREPARATION OF WILLS, REVOCABLE LIVING TRUSTS, POWERS OF ATTORNEY, ESTATE AND TRUST TAX RETURNS) AND PLANNED GIVING (E.G., ADMINISTRATION OF CHARITABLE GIFT ANNUITIES AND CHARITABLE REMAINDER TRUSTS) TO CLIENTS AS WELL AS OTHER MINISTRIES' CLIENTS DURING THE FISCAL YEAR, BENEFITING MANY CHARITIES BESIDES BSS. PROVIDING DONOR EDUCATION THROUGH SEMINARS IN AREAS OF ESTATE PLANNING AND PLANNED GIVING. THERE WERE NO EXPENSES ASSOCIATED WITH THIS PROGRAM DURING THE FISCAL YEAR, BUT IT REMAINS AN ACTIVE PROGRAM OF THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Sullivan President | OfficerTrustee | 40 | $103,275 |
William Coyle Chairman & Assistant Secretary | OfficerTrustee | 2 | $0 |
Samuel Thorpe Jr Vice Chairman | OfficerTrustee | 0.2 | $0 |
Walter Skip Elliott Treasurer | OfficerTrustee | 1 | $0 |
Mark Keller Risk Officer | OfficerTrustee | 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 | $4,429,019 |
| Noncash contributions included in lines 1a–1f | $2,501,398 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,429,019 |
| Total Program Service Revenue | $2,765 |
| Investment income | $390,536 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $18,172 |
| Net Rental Income | $38,953 |
| Net Gain/Loss on Asset Sales | $523,191 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,402,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,493,550 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $200,493 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $128,393 |
| Compensation of current officers, directors, key employees. | $80,952 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $366,600 |
| Pension plan accruals and contributions | $74,262 |
| Other employee benefits | $45,444 |
| Payroll taxes | $39,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,131 |
| Fees for services: Accounting | $25,679 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,459 |
| Advertising and promotion | $2,931 |
| Office expenses | $11,866 |
| Information technology | $12,050 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $39,792 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,998 |
| Interest | $708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,643 |
| Insurance | $6,405 |
| All other expenses | $90,223 |
| Total functional expenses | $5,557,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,468 |
| Savings and temporary cash investments | $1,436,711 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,847 |
| 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 | $24,334 |
| Net Land, buildings, and equipment | $1,250,250 |
| Investments—publicly traded securities | $8,630,859 |
| Investments—other securities | $334,898 |
| Investments—program-related | $3,701,400 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,426,767 |
| Accounts payable and accrued expenses | $36,266 |
| Grants payable | $0 |
| Deferred revenue | $496,254 |
| 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 | $20,000 |
| Other liabilities | $3,493,113 |
| Total liabilities | $4,045,633 |
| Net assets without donor restrictions | $11,156,374 |
| Net assets with donor restrictions | $224,760 |
| 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 | $15,426,767 |
Grants Awarded
Over the last fiscal year, Believers Stewardship Services Inc has awarded $4,309,445 in support to 79 organizations.
| Grant Recipient | Amount |
|---|---|
PORTAGE PARK GOSPEL HALL ASSOCIATION PURPOSE: General Support | $1,324,527 |
CHRISTIAN MISSIONS IN MANY LANDS INC PURPOSE: General Support | $675,408 |
EMMAUS BIBLE COLLEGE PURPOSE: General Support | $203,171 |
SET FREE MINISTRIES - MO & IL PURPOSE: General Support | $123,211 |
CHRISTIAN WORKERS FELLOWSHIP FUND INC PURPOSE: General Support | $116,750 |
IMMANUEL MISSION PURPOSE: General Support | $111,750 |