Bethel Faith Korean Church Inc
- Assets
- $503.4k
- Revenue
- $364.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Buford, GA
- Founding
- 12/1964
- Data as of
- 12/2022
- EIN
- 45-2712404
Organization Overview
Bethel Faith Korean Church Inc is located in Buford, GA. The organization was established in 1964. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Bethel Faith Korean Church 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, Bethel Faith Korean Church Inc generated $364.4k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $288.9k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO LOVE GOD AND WORSHIP HIM AS WE REACH AND DISCIPLE PEOPLE FOR JESUS CHIRST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUNDAY WORSHIP SERVICES, SUNDAY SCHOOL FOR YOUTH AND YOUNG BELIEVER, WEDNESDAY AND FRIDAY WORSHIP SERVICE1) TEACHING THE BIBLE & TRAINING THE DISCIPLESHIP OF JESUS 2) SERVING LOCAL MINISTRY & SERVING OVERSEA MISSIONARY WORK3) OPERATING BIBLE SCHOOL FOR YOUTH
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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 | $364,198 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $364,198 |
| Total Program Service Revenue | $0 |
| Investment income | $3,141 |
| 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 | -$2,951 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $364,388 |
| 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. | $22,413 |
| Compensation of current officers, directors, key employees. | $22,413 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,198 |
| Pension plan accruals and contributions | $5,900 |
| Other employee benefits | $22,800 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,500 |
| Advertising and promotion | $0 |
| Office expenses | $9,002 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,762 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,184 |
| Insurance | $3,558 |
| All other expenses | $94,726 |
| Total functional expenses | $288,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $371,942 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $65,110 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,379 |
| Total assets | $503,431 |
| Accounts payable and accrued expenses | $5,863 |
| 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 | $83,800 |
| Other liabilities | $0 |
| Total liabilities | $89,663 |
| Net assets without donor restrictions | $413,768 |
| 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 | $503,431 |
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