Word Of Life Foundation Inc
- Assets
- $29.2m
- Revenue
- $32.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Schroon Lake, NY
- Founding
- 05/2012
- Data as of
- 12/2021
- EIN
- 45-2899583
Organization Overview
Word Of Life Foundation Inc is located in Schroon Lake, NY. The organization was established in 2012. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Word Of Life 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.
For the year ending 12/2021, Word Of Life Foundation Inc generated $32.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $18.8m during the year ending 12/2021. While expenses have increased by 12.8% 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, Word Of Life Foundation Inc has awarded 333 individual grants totaling $109,200,765. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO SUPPORT THE OVERALL MISSION AND VISION OF WORD OF LIFE FELLOWSHIP, INC (WORD OF LIFE) . WORD OF LIFE WILL OVERSEE THE AFFAIRS OF THE FOUNDATION AND ENSURE THAT ALL ACTIONS OF THE FOUNDATION ARE CONSISTENT WITH THE MISSION, VISION, VALUES AND PURPOSES OF WORD OF LIFE. THE FOUNDATION, BY RECEIVING AND MANAGING CHARITABLE CONTRIBUTIONS, WILL SUPPORT WORD OF LIFE AND OTHER CHARITIES WHOSE WORK FURTHERS WORD OF LIFE'S PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS ORGANIZED AND IS OPERATED AS A SUPPORTING ORGANIZATION FOR THE SUPPORT AND FURTHERANCE OF THE RELIGIOUS, CHARITABLE, AND EDUCATIONAL TAX-EXEMPT PURPOSES OF WORD OF LIFE FELLOWSHIP INC . THE FOUNDATION RAISES AND DISTRIBUTES FUNDS TO WORD OF LIFE FELLOWSHIP INC AND OTHER TAX EXEMPT ORGANIZATIONS WHO FURTHER THE PURPOSES OF WORD OF LIFE FELLOWSHIP INC.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brown Bob G Director-Secretary | OfficerTrustee | 20 | $0 |
Nightingale Deb Director Treasurer | OfficerTrustee | 10 | $0 |
Peterson Bruce Director-President | OfficerTrustee | 2 | $0 |
Brown Andrew Director-Vice President | OfficerTrustee | 2 | $0 |
Lough Don H Director | Trustee | 2 | $0 |
Nelson Benjamin J Director | Trustee | 2 | $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 | $31,996,345 |
| Noncash contributions included in lines 1a–1f | $3,149,733 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,996,345 |
| Total Program Service Revenue | $0 |
| Investment income | $636,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,434 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,657,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,591,109 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,766,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,118,658 |
| Savings and temporary cash investments | $15,048,593 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,167,251 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $29,167,251 |
| 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 | $29,167,251 |
Grants Awarded
Over the last fiscal year, Word Of Life Foundation Inc has awarded $18,628,638 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
Schroon Lake, NY PURPOSE: Ministry | $13,294,698 |
Columbus, OH PURPOSE: Ministry | $2,850,000 |
Cedarville, OH PURPOSE: Ministry | $500,000 |
Columbus, OH PURPOSE: Ministry | $285,000 |
Canton, OH PURPOSE: Ministry | $200,000 |
Hilliard, OH PURPOSE: Ministry | $200,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Word Of Life Foundation Inc has recieved totaling $10,148,800.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $10,124,300 |
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $15,000 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $9,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Word Of Life Foundation Inc Schroon Lake, NY | $29,167,251 | $32,657,621 |
United States Catholic Conference Braintree, MA | $123,922,758 | $12,241,413 |
The Catholic Foundation Of Greater Philadelphia Philadelphia, PA | $44,939,432 | $23,307,616 |
Jewish Community Foundation Inc Cherry Hill, NJ | $42,600,461 | $8,752,647 |
Episcopal Church Foundation New York, NY | $650,053,865 | $6,623,247 |
American Friends Of Lev Aharon New York, NY | $614,615 | $3,691,815 |
Yaazoru Inc Lakewood, NJ | $191,815 | $3,860,512 |
Jewish Foundation Of Greater New Haven Inc Woodbridge, CT | $82,672,017 | $6,191,311 |
Toras Chesed Inc Lakewood, NJ | $1,591,221 | $3,876,581 |
American Baptist Foundation East Norriton, PA | $193,005,859 | $25,268,594 |
Friends Of Odyssey Impact Inc New York, NY | $9,035,601 | $1,158,270 |
Trustees Of Colt Bequest Inc Hartford, CT | $74,046,070 | $7,649,069 |