Larry Thompson Ministries Inc
- Assets
- $393.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Hollywood, FL
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 47-2106209
Organization Overview
Larry Thompson Ministries Inc, operating under the name Faith Foundry, is located in Hollywood, FL. The organization was established in 2017. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Faith Foundry employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Foundry 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, Faith Foundry generated $97.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $169.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PREACH THE GOSPEL OF JESUS CHRIST
Describe the Organization's Program Activity:
Part 3
DURING 2021 THIS ORGANIZATION LARRY THOMPSON MINISTRIES, INC. AKA FAITH FOUNDRY MENTORED THREE (3) EARLY-CAREER PASTORS IN THE UNITED STATES. THE MENTORSHIP INCLUDED COACHING CALLS AND WEBINARS. THE ANNUAL TRIPS TO NICARAGUA AND ISRAEL WERE CURTAILED DUE TO THE COVID EPIDEMIC. FAITH FOUNDRY SPOKE IN CHURCHES AND LOCAL BIBLE STUDY GROUPS DURING THE YEAR ON BEHALF OF THE ORGANIZATION. ALSO, PROVIDED LEADERSHIP IN WEDDINGS, FUNERALS AND COUNSELING OF FAMILIES IN SPIRITUAL NEED. SUPPORT & COUNSEL WAS PROVIDED TO PASTORS FROM PAST YEARS OF THE MENTORSHIP, DEALING WITH CONSEQUENCES OF COVID ON CHURCHES LEADERSHIP. PRAYED FOR AND ENCOURAGED MISSIONARIES AS AN EXTENDED SUPPORT.
FINANCIAL SUPPORT TO MISSIONS AND 501 (C)(3) ORGANIZATIONS TO ASSIST THEM WITH THEIR ESTABLISHED PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Bennett President | 0 | $0 | |
Vaughn Drinkard Vice President | 0 | $0 | |
Ami T Royle Secretary | 0 | $0 | |
Belinda Lawrence Treasurer | 2 | $0 | |
Larry Thompson Ceoexecutive Dirctor | 20 | $51,001 | |
Cynthia S Thompson Associate Executive Director | 25 | $54,142 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,328 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,922 |
| Total Revenue | $97,250 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $128,903 |
| Professional fees and other payments to independent contractors | $4,436 |
| Occupancy, rent, utilities, and maintenance | $1,150 |
| Printing, publications, postage, and shipping | $441 |
| Other expenses | $34,100 |
| Total expenses | $169,030 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $355,297 |
| Other assets | $0 |
| Total assets | $393,844 |
| Total liabilities | $21,285 |
| Net assets or fund balances | $372,559 |