Bright Springs Foundation
- Assets
- $314.6k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Murfreesboro, TN
- Founding
- 04/2015
- Data as of
- 12/2022
- EIN
- 46-3375433
Organization Overview
Bright Springs Foundation is located in Murfreesboro, TN. The organization was established in 2015. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Bright Springs Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Springs Foundation 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, Bright Springs Foundation generated $2.1m in total revenue. All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 154.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ACCORDING TO THE CERTIFICATE OF INCORPORATION, THE PURPOSE OF THE CORPORATION IS TO RECEIVE, ADMINISTER AND EXPEND FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3), INCLUDING; EDUCATE THE PUBLIC ON GLOBAL CHRISTIAN EVANGELISM; TO ENGAGE IN OTHER CHARITABLE ACTIVITIES AS DETERMINED BY THE BOARD OF DIRECTORS; TO ENGAGE IN ANY AND ALL LAWFUL ACTIVITIES INCIDENTAL TO THE FOREGOING PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE THE PUBLIC ON GLOBAL CHRISTIAN EVANGELISM; TO ENGAGE IN OTHER CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Stephens Executive Di | Trustee | 10 | $0 |
Shuji Kondo Director | Trustee | $0 | |
Timothy Schierbeek President | OfficerTrustee | 10 | $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 | $2,063,743 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,063,743 |
| Total Program Service Revenue | $0 |
| Investment income | $53 |
| 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 | $2,063,796 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $700,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $843,860 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $60,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,676 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,497 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $563,994 |
| Advertising and promotion | $7,072 |
| Office expenses | $17,581 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,166 |
| Travel | $579 |
| 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 | $2,354,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $314,564 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $314,564 |
| 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 | $314,564 |
| 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 | $314,564 |
Grants Awarded
Over the last fiscal year, Bright Springs Foundation has awarded $700,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CAMPUS CRUSADE FOR CHRIST PURPOSE: BIBLE FILM PROJECT | $350,000 |
NATIONAL CHRISTIAN CHARITABLE FOUND PURPOSE: FRESH WING GIVING FU | $200,000 |
WEDGEWOOD CIRCLE INSTITUTE | | | $150,000 |