The First United Methodist Church Foundation Of Laurens

Organization Overview

The First United Methodist Church Foundation Of Laurens is located in Laurens, SC. The organization was established in 1988. According to its NTEE Classification (X20) the organization is classified as: Christianity, 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. First United Methodist Church Foundation Of Laurens 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, First United Methodist Church Foundation Of Laurens generated $84.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.1% each year . All expenses for the organization totaled $31.3k during the year ending 12/2021. While expenses have increased by 23.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

(1) TO RECEIVE, HOLD, MANAGE, AND INVEST FUNDS FOR THE BENEFIT OF THE FIRST UNITED METHODIST CHURCH OF LAURENS, SC (2) TO PROVIDE FINANCIAL HELP FOR THE POOR, SICK OR NEEDY RESIDENTS OF LAURENS COUNTY, SC

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION PROVIDED 28 FINANCIAL ASSISTANCE GRANTS TO LAURENS COUNTY RESIDENTS TOTALING $6,760.00. THESE GRANTS ARE AUTHORIZED AND APPROVED BY THE PASTOR OF THE FIRST UNITED METHODIST CHURCH OF LAURENS, SC IN ACCORDANCE WITH THE ENDOWMENT'S GUIDELINES. PAYMENTS ARE PRIMARILY USED TO PAY UTILITY RELATED BILLS, ASSISTANCE WITH MEDICAL BILLS, AND TEMPORARY HOUSING COSTS.


THE FOUNDATION TRANSFERRED $15,000.00 AS REQUESTED BY THE MISSIONS COMMITTEE OF THE CHURCH IN ORDER TO PROVIDE FUNDS IN SUPPORT OF THEIR MINISTRIES.


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Board, Officers & Key Employees

Name (title)Compensation
Smith Patterson
Chairman
$0
Sam Howell
Treasurer
$0
Teresa Crabtree
Director
$0
Scott Tollison
Director
$0
Annette Elwood
Director
$0
Gene Curry
Director
$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$10,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$10,000
Total Program Service Revenue$0
Investment income $13,534
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $60,523
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $84,057

Endowment Analysis

Beg. Balance$392,417
Earnings$46,176
Admin Expense$4,414
Net Contributions$10,000
Other Expense$21,760
Ending Balance$422,419

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