Foundation For Truth
- Assets
- $47.1m
- Revenue
- $2.5m
- Investments
- $14.7m
- Employees
- 0
- Location
- San Angelo, TX
- Founding
- 11/2011
- Data as of
- 12/2021
- EIN
- 45-2747584
Organization Overview
Foundation For Truth is located in San Angelo, TX. The organization was established in 2011. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Truth 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, Foundation For Truth generated $2.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 5 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 2014, Foundation For Truth has awarded 122 individual grants totaling $7,869,762. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S EVANGELISM PROGRAM INCLUDES THE PURCHASE AND BROADCAST OF EVANGELISTIC LITERATURE AND MATERIALS TO CONGREGATIONS OF THE CHURCH OF CHRIST AND VARIOUS INDIVIDUALS WITHIN THE UNITED STATES AS WELL AS ABROAD; ALL OF WHICH PROMOTE THE GOSPEL OF CHRIST. RYAN SMITHEY AND RAFAEL RAMIREZ, EMPLOYEES OF THE FOUNDATION, ALSO CONDUCT DIRECT EVANGELISTIC ACTIVITIES IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Braswell Director | 40 | $85,000 | |
Ryan Smithey Minister | 40 | $50,200 | |
Rafael Ramirez Minister | 40 | $21,200 | |
Dennis Reed President | 25 | $0 | |
Donald W Mckee Jr Secretary/treasurer | 1 | $0 | |
Michael Light Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $155,480 |
| Interest on Savings | $4,402 |
| Dividends & Interest | $225,564 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $730,094 |
| Capital Gain Net Income | $730,094 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,347,057 |
| Total Revenue | $2,462,597 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $85,000 |
| Other employee salaries and wages | $71,400 |
| Pension plans, employee benefits | $71,518 |
| Interest | $0 |
| Taxes | $56,407 |
| Depreciation | $97,571 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $12,635 |
| Printing and publications | $0 |
| Other expenses | $64,251 |
| Total operating and administrative expenses | $600,076 |
| Contributions, gifts, grants paid | $1,321,847 |
| Total expenses and disbursements | $1,921,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,122 |
| Savings and temporary cash investments | $186,518 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $12,558,220 |
| Investments—mortgage loans | $0 |
| Investments—other | $13,369,189 |
| Net Land, buildings, and equipment | $20 |
| Other assets | $19,466,688 |
| Total assets | $47,067,871 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Foundation For Truth has awarded $1,321,847 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
COLEMAN AVE CHURCH OF CHRIST PURPOSE: TO HELP WITH THE PRODUCTION COSTS FOR BROADCASTING THE GOSPEL OF JESUS CHRIST VIA ETBN PROGRAM | $152,251 |
APOLOGETICS PRESS PURPOSE: MATCHING GRANT TO HELP RAISE OPERATIONAL FUNDS | $150,000 |
CROSSVILLE CHURCH OF CHRIST PURPOSE: FINANCIAL ASSISTANCE WITH EVANGELISM CAMPAIGNS, EVANGELISM WORKSHOPS, AND NEW SATELLITE TO PREACH AND TEACH THE GOSPEL INDIA | $148,000 |
SAN ANGELO AREA FOUNDATION- FLYNN ENDOWMENT FUND PURPOSE: FLYNN ENDOWMENT FUND, A DAF CREATED TO FUND EVANGELISM AND BENEVOLENCE | $100,000 |
SAN ANGELO AREA FOUNDATION- FLYNN ENDOWMENT FUND PURPOSE: FLYNN ENDOWMENT FUND, A DAF CREATED TO FUND EVANGELISM AND BENEVOLENCE | $100,000 |
GOSPEL BROADCASTING NETWORK PURPOSE: FINANCIAL ASSISTANCE TO PROMOTE EVANGELISM THROUGH SOCIAL MEDIA PLATTORMS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centerpoint Energy Foundation Inc Houston, TX | $70,813,659 | $24,292,942 |
The Cullen Foundation Houston, TX | $278,005,765 | $19,628,625 |
Union General Hospital Farmerville, LA | $25,999,661 | $20,373,665 |
Karakin Foundation Abilene, TX | $132,653,937 | $29,351,833 |
Fore Kids Foundation Inc Avondale, LA | $11,128,381 | $16,554,167 |
Addy Foundation Dallas, TX | $79,281,983 | $6,993,780 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Stanley E Fulton Family Foundation Dallas, TX | $203,743,171 | -$10,523,305 |
Srb Charitable Corporation Fort Worth, TX | $75,222,672 | $6,910,443 |
Jay Pritzker Foundation Houston, TX | $33,789,125 | $2,840,542 |
Greehey Family Foundation San Antonio, TX | $169,607,829 | $20,192,503 |
Eula Mae And John Baugh Foundation Jersey Village, TX | $172,592,135 | $27,686,076 |