Grace Brethren Investment Foundation Inc
- Assets
- $110.0m
- Revenue
- $4.3m
- Investments
- $2.3m
- Employees
- 7
- Location
- Winona Lake, IN
- Founding
- 01/1975
- Data as of
- 12/2015
- EIN
- 35-1085585
Organization Overview
Grace Brethren Investment Foundation Inc is located in Winona Lake, IN. The organization was established in 1975. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. As of 12/2015, Grace Brethren Investment Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Brethren Investment Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER THE FELLOWSHIP OF GRACE BRETHREN CHURCHES' WORK AND LOAN FUNDS TO THE FGBC & AFFILIATES
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRACE BRETHREN INVESTMENT FOUNDATION ASSISTS IN THE EXTENSION OF CHRISTIAN WORK BY CONTRIBUTING AND LOANING FUNDS TO GRACE BRETHREN CHURCHES, CONVENTIONS, OR ASSOCIATIONS OF CHURCHES, GRACE BRETHREN SCHOOLS, AND AFFILIATED ORGANIZATIONS. THE ORGANIZATION ACCOMPLISHES THIS PURPOSE BY ENABLING INDIVIDUALS WHO SUPPORT THE OBJECTIVES OF THE FELLOWSHIP TO INVEST IN FUNDS WHICH EARN INTEREST COMPOUNDED DAILY AND THEREBY TO PROVIDE A SOURCE OF FUNDING, IN THE FORM OF CAPITAL LOANS, FOR ACQUIRING, DEVELOPING, AND REMODELING LAND AND BUILDINGS FOR CHURCHES, SCHOOLS, AND OTHER ASSOCIATED ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Augspurger Director | Trustee | 4 | $372 |
Kent Semple Director | Trustee | 4 | $731 |
David Coleman Director | Trustee | 4 | $0 |
Robert Macmillan Director | Trustee | 4 | $593 |
Richard Stair Director | Trustee | 4 | $717 |
Jerry Michael Director | Trustee | 4 | $739 |
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 | $54,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,651 |
| Total Program Service Revenue | $3,548,267 |
| Investment income | $694,385 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,051 |
| 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 | $4,308,354 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $742,759 |
| Grants and other assistance to domestic individuals. | $5,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $362,466 |
| Compensation of current officers, directors, key employees. | $253,183 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $163,367 |
| Pension plan accruals and contributions | $12,114 |
| Other employee benefits | $50,754 |
| Payroll taxes | $33,743 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,620 |
| Fees for services: Accounting | $34,978 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,472 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,635 |
| Office expenses | $55,223 |
| Information technology | $110,330 |
| Royalties | $0 |
| Occupancy | $41,786 |
| Travel | $23,755 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,285 |
| Interest | $1,988,920 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,272 |
| Insurance | $46,165 |
| All other expenses | $847 |
| Total functional expenses | $3,989,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $310,665 |
| Savings and temporary cash investments | $47,406,138 |
| 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 | $114,225 |
| Net Land, buildings, and equipment | $699,871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,300,000 |
| Investments—program-related | $58,908,706 |
| Intangible assets | $0 |
| Other assets | $263,417 |
| Total assets | $110,003,022 |
| Accounts payable and accrued expenses | $773,646 |
| 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 | $99,759,953 |
| Total liabilities | $100,533,599 |
| Unrestricted restricted net Assets | $9,469,423 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $9,469,423 |
Grants Awarded
Over the last fiscal year, Grace Brethren Investment Foundation Inc has awarded $706,461 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
GO2 CHURCH PLANTING MINISTRIES INC PURPOSE: CHURCH PLANTING | $70,000 |
ASSOCIATION OF GRACE BRETHREN MINISTERS PURPOSE: CHURCH PLANTING | $29,000 |
VISION OHIO PURPOSE: CHURCH PLANTING | $60,000 |
GBCANADA PURPOSE: CHURCH PLANTING | $70,000 |
AUBURN GRACE COMMUNITY CHURCH PURPOSE: CHURCH PLANTING | $20,000 |
THE GRACE TRUST PURPOSE: ORGANIZATIONAL SUPPORT | $80,000 |