Provident Ministries Ltd
- Assets
- $1.6m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 8
- Location
- South Bend, IN
- Founding
- 07/2005
- Data as of
- 12/2023
- EIN
- 36-4535399
Organization Overview
Provident Ministries Ltd is located in South Bend, IN. The organization was established in 2005. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Provident Ministries Ltd employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Provident Ministries Ltd 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 12/2023, Provident Ministries Ltd generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CHURCH:ASSISTING WITH FOOD AND SUPPLIES FOR AREAS DEVASTATED BY NATURAL DISASTERS AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHURCH
ASSISTING WITH FOOD & SUPPLIES FOR AREAS DEVASTATED BY NATURAL DISASTERS AROUND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Sumrall President | OfficerTrustee | 40 | $75,400 |
Josh Page-Wood Trustee | Trustee | 40 | $23,600 |
Rachelle Page-Wood Trustee | Trustee | 40 | $18,000 |
Dianne Sumrall Secretary | OfficerTrustee | 16 | $0 |
Paula Gibson Trustee | Trustee | 0 | $0 |
Donald Cole Trustee | Trustee | 0 | $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 | $2,559,713 |
| Noncash contributions included in lines 1a–1f | $1,966,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,559,713 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,559,713 |
| 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 | $5,987 |
| Compensation of current officers, directors, key employees. | $75,400 |
| Compensation of current officers, directors, key employees. | $15,080 |
| Compensation to disqualified persons | $111,386 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,000 |
| Payroll taxes | $14,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $8,781 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $14,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,791 |
| Travel | $9,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,682 |
| Interest | $41,416 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,984 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,517,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,916 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $515,985 |
| 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 | $1,425 |
| Net Land, buildings, and equipment | $1,030,872 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,592,198 |
| Accounts payable and accrued expenses | $766,391 |
| 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 | $466,676 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,233,067 |
| Net assets without donor restrictions | $100,917 |
| Net assets with donor restrictions | $258,214 |
| 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 | $1,592,198 |