Global Ministries Foundation
- Assets
- $15.8m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 18
- Location
- Cordova, TN
- Founding
- 09/2003
- Data as of
- 12/2022
- EIN
- 56-2378045
Organization Overview
Global Ministries Foundation is located in Cordova, TN. The organization was established in 2003. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Global Ministries Foundation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Global Ministries Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Global Ministries Foundation has awarded 99 individual grants totaling $7,293,141. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING TOGETHER AND STRENGTHEN THE EFFORTS OF INDIVIDUALS AND CHURCHES TO REACH THE WORLD WITH THE GOSPEL OF JESUS CHRIST AND TO MINISTER TO THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINISTRY SUPPORTED PROJECTS ALL OVER THE WORLD AND MISSION TRIPS.
CHRISTIAN MEDIA 1, LLC HOSTS AND BROADCASTS SPANISH CHRISTIAN RADIO TO MEMPHIS AND THE SURROUNDING AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Hamlet President & Chairman | OfficerTrustee | 40 | $397,000 |
Philip Roberts Director | Trustee | 25 | $0 |
Thomas Stovall Director | Trustee | 1 | $0 |
Natalie Metcalf Secretary | Officer | 40 | $43,500 |
Shonna Burfield Treasurer | Officer | 40 | $42,500 |
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 | $525,138 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $525,138 |
| Total Program Service Revenue | $494,211 |
| Investment income | $201,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,407,206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,627,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,080,000 |
| 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. | $483,000 |
| Compensation of current officers, directors, key employees. | $33,646 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $527,850 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,526 |
| 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 | $545,936 |
| Travel | $205,861 |
| 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 | $83,613 |
| Insurance | $96,616 |
| All other expenses | $240,341 |
| Total functional expenses | $10,120,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,475,092 |
| Savings and temporary cash investments | $9,370,898 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,050,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $241,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $549,000 |
| Other assets | $0 |
| Total assets | $15,784,287 |
| Accounts payable and accrued expenses | $1,124,925 |
| 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 | $1,124,925 |
| Net assets without donor restrictions | $14,659,362 |
| 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 | $15,784,287 |
Grants Awarded
Over the last fiscal year, Global Ministries Foundation has awarded $392,991 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BOTT RADIO NETWORK PURPOSE: MINISTRY SUPPORT | $109,650 |
LIGHT MINISTRIES INC PURPOSE: MINISTRY SUPPORT | $40,000 |
CHRIST ABOVE ALL INC PURPOSE: MINISTRY SUPPORT | $20,000 |
THE CONVERGENCE POINT LLC PURPOSE: MINISTRY SUPPORT | $30,000 |
SECRETS SAVORED INC PURPOSE: MINISTRY SUPPORT | $10,000 |
DISCIPLE MAKERS NETWORK PURPOSE: MINISTRY SUPPORT | $10,000 |