Franklin Cooperative Ministry Inc
- Assets
- $879.5k
- Revenue
- $590.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Franklin, VA
- Founding
- 10/1993
- Data as of
- 12/2022
- EIN
- 54-1623576
Organization Overview
Franklin Cooperative Ministry Inc is located in Franklin, VA. The organization was established in 1993. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Franklin Cooperative Ministry Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Cooperative Ministry 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, Franklin Cooperative Ministry Inc generated $590.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $572.3k during the year ending 12/2022. While expenses have increased by 9.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRANKLIN COOPERATIVE MINISTRY INC.'S PRIMARY MISSION IS TO PROVIDE ASSISTANCE TO THE DISADVANTAGED FOR HOUSING, UTILITIES, PRESCRIPTIONS, DENTAL CARE, HOUSEHOLD GOODS AND CLOTHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLOTHING PROVIDED TO 98 FAMILIES IN NEED.
OTHER MISCELLANEOUS PROGRAMS SUCH AS SCHOOL SUPPLIES, EMERGENCY ASSISTANCE, AND TRANSPORTATION ASSISTANCE PROVIDED TO 4 FAMILIES.
3,184 FOOD BAGS WERE PROVIDED TO 287 FAMILY HOUSEHOLDS IN NEED IN OUR AREA.
RENT, UTILITIES AND MEDICAL ASSISTANCE PROVIDED TO 208 FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Lou Ventura Director/cha | OfficerTrustee | 1 | $0 |
Jackie Cutchins Director/vic | OfficerTrustee | 1 | $0 |
Nancy C Greene Director/sec | OfficerTrustee | 0.5 | $0 |
Geraldine R Lewis Director/tre | OfficerTrustee | 10 | $0 |
Britton Culpepper Director | Trustee | 1 | $0 |
Faith Atkinson Director | Trustee | 1 | $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 | $545,602 |
| Noncash contributions included in lines 1a–1f | $381,915 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $545,602 |
| Total Program Service Revenue | $0 |
| Investment income | $8,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,310 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $590,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $426,993 |
| 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 | $86,427 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $176 |
| Office expenses | $6,942 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,792 |
| 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 | $16,500 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $572,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,745 |
| Savings and temporary cash investments | $357,337 |
| 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 | $450,427 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $879,509 |
| 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 | $2,126 |
| Total liabilities | $2,126 |
| Net assets without donor restrictions | $877,383 |
| 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 | $879,509 |