Interfaith Assistance Ministry Inc
- Assets
- $6.2m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 30
- Location
- Hendersonville, NC
- Founding
- 05/1984
- Data as of
- 12/2023
- EIN
- 58-1556963
Organization Overview
Interfaith Assistance Ministry Inc is located in Hendersonville, NC. The organization was established in 1984. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2023, Interfaith Assistance Ministry Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Interfaith Assistance 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 12/2023, Interfaith Assistance Ministry Inc generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $3.9m during the year ending 12/2023. While expenses have increased by 18.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST MEMBERS OF OUR COMMUNITY EXPERIENCING CRISIS WITH BASIC NEEDS, IN AN ATMOSPHERE OF COMPASSION AND RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IAM PROVIDED 83,974 CRISIS SERVICE TOUCHES TO NEIGHBORS IN NEED IN 2023. OUR FOOD ASSISTANCE DEPARTMENT PROVIDED NUTRITIOUS FOOD THAT FED 18,522 UNDUPLICATED CHILDREN AND ADULTS. OUR MOBILE PANTRY MADE 50 TRIPS INTO THE COMMUNITY AND SERVED 3,262 HOUSEHOLDS. IAM BEGAN PARTICIPATION IN THE HEALTHY OPPORTUNITIES PILOT PROGRAM THAT PROVIDED 5,111 HEALTHY FOOD BOXES, 2350 FRUIT AND VEGETABLE PRESCRIPTIONS AND 6,464 HEALTHY MEALS TO PROGRAM PARTICIPANTS IN HENDERSON, TRANSYLVANIA, POLK AND RUTHERFORD COUNTIES. IAM PROVIDED FINANCIAL ASSISTANCE, WORKING DIRECTLY WITH UTILITIES AND LANDLORDS, THAT HELPED 480 FAMILIES AVOID DISCONNECTIONS AND PROVIDED 297 HOUSEHOLDS WITH RENT OR MORTGAGE ASSISTANCE; GASOLINE VOUCHERS AND BUS TICKETS ASSISTED 227 INDIVIDUALS. THE CLOTHING ASSISTANCE DEPARTMENT SERVED 4,214 INDIVIDUALS PROVIDING CLOTHING, JACKETS, SHOES AND LINENS TO NEIGHBORS IN NEED. IAM PROVIDED PERSONAL CARE ASSISTANCE PROVIDING 2,404 PACKAGES OF DIAPERS, 5,540 PERSONAL CARE ITEMS, 1,081 FEMININE HYGIENE PACKAGES, 2,052 PACKAGES OF LAUNDRY DETERGENT AND 3,408 BAGS OF PET FOOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Moss Executive Director | Officer | 40 | $111,874 |
Patrick Nolan CFO | Officer | 40 | $89,789 |
Sharon Tirrell President | OfficerTrustee | 5.96 | $0 |
Linda Showalter Vice President | OfficerTrustee | 0.5 | $0 |
Paige Posey Secretary | OfficerTrustee | 4.21 | $0 |
Terry Andersen Treasurer | OfficerTrustee | 1.13 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $152,438 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,548,019 |
| Noncash contributions included in lines 1a–1f | $2,270,474 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,700,457 |
| Total Program Service Revenue | $842,370 |
| Investment income | $25,018 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,597 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$23,778 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,536,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $687,730 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $212,773 |
| Compensation of current officers, directors, key employees. | $101,969 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $689,223 |
| Pension plan accruals and contributions | $30,228 |
| Other employee benefits | $0 |
| Payroll taxes | $70,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,342 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,881 |
| Fees for services: Other | $3,562 |
| Advertising and promotion | $18,538 |
| Office expenses | $33,140 |
| Information technology | $30,126 |
| Royalties | $0 |
| Occupancy | $62,683 |
| Travel | $10,723 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,492 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $172,091 |
| Insurance | $31,159 |
| All other expenses | $0 |
| Total functional expenses | $3,925,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $491,976 |
| Savings and temporary cash investments | $514,107 |
| Pledges and grants receivable | $117,500 |
| Accounts receivable, net | $124,201 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $189,443 |
| Prepaid expenses and deferred charges | $30,334 |
| Net Land, buildings, and equipment | $3,733,945 |
| Investments—publicly traded securities | $893,044 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,121 |
| Total assets | $6,213,671 |
| Accounts payable and accrued expenses | $109,533 |
| Grants payable | $0 |
| Deferred revenue | $27,920 |
| 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 | $410,490 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,337 |
| Total liabilities | $564,280 |
| Net assets without donor restrictions | $5,328,370 |
| Net assets with donor restrictions | $321,021 |
| 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 | $6,213,671 |