Inspirational Network Inc
- Assets
- $298.4m
- Revenue
- $43.4m
- Investments
- $0.0
- Employees
- 109
- Location
- Indian Land, SC
- Founding
- 11/1994
- Data as of
- 12/2021
- EIN
- 57-0931093
Organization Overview
Inspirational Network Inc, operating under the name Inspiration Ministries, is located in Indian Land, SC. The organization was established in 1994. According to its NTEE Classification (X82) the organization is classified as: Religious Television, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Inspiration Ministries employed 109 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inspiration Ministries 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, Inspiration Ministries generated $43.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $34.7m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPACTING PEOPLE FOR CHRIST WORLDWIDE THROUGH MEDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION, PRODUCTION, AND PROVISION OF RELIGIOUS, CHARITABLE, AND EDUCATIONAL PROGRAMMING COMMUNICATING THE GOSPEL TO PEOPLES OF THE WORLD THOUGH DIVERSE MEDIA TECHNOLOGIES, RANGING FROM LINEAR TELEVISION AND VARIOUS SERVER-BASED PLATFORMS INCLUDING BROADBAND, INTERNET, SOCIAL MEDIA, WIRELESS, AS WELL AS BOOKS, MAGAZINES, AND DIGITAL ARTICLES. THE POTENTIAL TELEVISION AUDIENCE IS MORE THAN 1 BILLION HOUSEHOLDS DOMESTICALLY AND INTERNATIONALLY. THE MINISTRY ENGAGES IN ONLINE EVANGELISM AND WORKS TO ENHANCE THE CHRISTIAN SPIRITUAL DEVELOPMENT OF MEN, WOMEN, AND CHILDREN. MINISTRY PROGRAM SERVICES INCLUDE THE DISTRIBUTION OF DIRECT BIBLE TEACHING AND PREACHING, MUSIC SHOWS, DOCUMENTARIES ABOUT THE CHRISTIAN FAITH, VALUES-BASED ENTERTAINMENT PROGRAMMING, CHILDREN'S AND TEEN'S PROGRAMMING, ARTICLES, BOOKS, AND OTHER MATERIALS TO DISCIPLE AND ENCOURAGE PEOPLE IN THEIR WALK OF FAITH. THE MINISTRY OPERATES AN INTERNATIONAL PRAYER CENTER TO RESPOND TO CALLS, EMAILS, AND MAILED REQUESTS FOR PRAYER FROM PEOPLE WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles David Cerullo Director / President & CEO | OfficerTrustee | 5 | $227,351 |
Benjamin Cerullo Dir/evp Ministry Outreach/coo Crossridge | OfficerTrustee | 50 | $810,185 |
Barbara Cerullo Dir/evp Organizational Development | OfficerTrustee | 5 | $0 |
Albert Denson Director | Trustee | 2 | $10,000 |
Doug Preudhomme Director | Trustee | 2 | $10,000 |
Ramon Ardizzone Director | Trustee | 2 | $10,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edifice Llc Building Contractor | 12/30/22 | $2,355,601 |
Site Services Of The Carolinas Site Work | 12/30/22 | $808,163 |
Smith Grounds Management Grounds Maintenance | 12/30/22 | $605,239 |
Environmentalscape Grounds Maintenance | 12/30/22 | $213,480 |
Goka Co Cleaning Services | 12/30/22 | $186,284 |
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 | $29,299,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,299,731 |
| Total Program Service Revenue | $1,853,144 |
| Investment income | $10,107,213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,161,918 |
| Net Gain/Loss on Asset Sales | -$1,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,425,895 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,000 |
| 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. | $1,190,591 |
| Compensation of current officers, directors, key employees. | $35,718 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,578,880 |
| Pension plan accruals and contributions | $165,471 |
| Other employee benefits | $0 |
| Payroll taxes | $595,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $23,676 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,565,543 |
| Office expenses | $488,888 |
| Information technology | $347,213 |
| Royalties | $0 |
| Occupancy | $458,080 |
| Travel | $486,616 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,266 |
| Interest | $9 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,027,652 |
| Insurance | $1,070,650 |
| All other expenses | $639,736 |
| Total functional expenses | $34,706,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,375,021 |
| Savings and temporary cash investments | $56,712,280 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $409,801 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $588,780 |
| Prepaid expenses and deferred charges | $832,831 |
| Net Land, buildings, and equipment | $70,328,000 |
| Investments—publicly traded securities | $5,949,843 |
| Investments—other securities | $0 |
| Investments—program-related | $127,287,998 |
| Intangible assets | $0 |
| Other assets | $31,887,250 |
| Total assets | $298,371,804 |
| Accounts payable and accrued expenses | $30,265,244 |
| 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 | $1,888,886 |
| Total liabilities | $32,154,130 |
| Net assets without donor restrictions | $266,217,674 |
| 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 | $298,371,804 |
Grants Awarded
Over the last fiscal year, Inspirational Network Inc has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CUTTING EDGE INTERNATIONAL PURPOSE: Program Support | $20,000 |
CONVOY OF HOPE PURPOSE: Program Support | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inspirational Network Inc Indian Land, SC | $298,371,804 | $43,425,895 |
Macon Urban Ministries Inc Macon, GA | $2,354,932 | $1,144,176 |
Impact Others Inc Sugar Hill, GA | $723,435 | $1,164,026 |
Transforming Truth Inc Flowery Branch, GA | $312,940 | $201,987 |
Glory City Network Inc Suwanee, GA | $32,977 | $166,906 |
Divine Vision Network Inc West Point, GA | $130,186 | $0 |
Global Christian Network Atlanta, GA | $5,773 | $0 |