Florida Methodist Foundation Inc
- Assets
- $235.3m
- Revenue
- $7.2m
- Investments
- $255.8k
- Employees
- 15
- Location
- Lakeland, FL
- Founding
- 11/1966
- Data as of
- 12/2023
- EIN
- 59-1148710
Organization Overview
Florida Methodist Foundation Inc is located in Lakeland, FL. The organization was established in 1966. 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 12/2023, Florida Methodist Foundation Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Methodist Foundation 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, Florida Methodist Foundation Inc generated $7.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $7.1m during the year ending 12/2023. While expenses have increased by 2.8% 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.
Since 2015, Florida Methodist Foundation Inc has awarded 58 individual grants totaling $2,374,471. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN MINISTRIES OF UNITED METHODIST CHURCHES AND AGENCIES BY PROMOTING CHRISTIAN STEWARDSHIP THROUGH EDUCATION, CONSULTING, DEVELOPMENT AND FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS A RELATED, BUT SEPARATELY ORGANZIED, ENTITY WITH THE PURPOSE OF SERVING THE FLORIDA ANNUAL CONFERENCE (FAC) OF THE UNITED METHODIST CHURCH. ITS PURPOSE IS TO RECEIVE AND ADMINISTER FUNDS FOR RELIGIOUS, CHARITABLE, OR EDUCATIONAL PURPOSES. IT SERVES AS A CHANNEL FOR PHILANTHROPIC GIVING TO LOCAL CHURCHES, AGENCIES AND INSTITUTIONS AFFILIATED WITH THE FLORIDA CONFERENCE THROUGH VARIOUS TRUST VEHICLES. IN ADDITION, FUNDS DEPOSITED WITH THE FOUNDATION MAY BE LOANED TO UNITED METHODIST CHURCHES, AGENCIES AND INSTITUTIONS PRIMARILY WITHIN THE FLORIDA CONFERENCE FOR BUILDING AND OTHER CAPITAL PROJECTS. THE NUMBER OF UNITED METHODIST CHURCHES AND OTHER AGENCIES WITH THE FAC BENEFITED IN 2023 WAS 387.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Coleman Chairperson | OfficerTrustee | 4.3 | $0 |
Stephen Bell Vice Chairperson | OfficerTrustee | 4.3 | $0 |
Sheryl Marks-Williams Secretary | OfficerTrustee | 4.3 | $0 |
Robert Bledsoe Board Member | Trustee | 4.3 | $0 |
Kim Clarke Board Member | Trustee | 4.3 | $0 |
Bruce Ford Board Member | Trustee | 4.3 | $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 | $120,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $120,550 |
| Total Program Service Revenue | $6,220,577 |
| Investment income | $1,149,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$247,172 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,244,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,600 |
| 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. | $950,475 |
| Compensation of current officers, directors, key employees. | $127,269 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $650,493 |
| Pension plan accruals and contributions | $46,900 |
| Other employee benefits | $0 |
| Payroll taxes | $66,707 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,743 |
| Fees for services: Accounting | $40,409 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $187,845 |
| Fees for services: Other | $243,865 |
| Advertising and promotion | $32,515 |
| Office expenses | $104,737 |
| Information technology | $231,401 |
| Royalties | $0 |
| Occupancy | $47,452 |
| Travel | $36,650 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,827 |
| Interest | $4,171,628 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,253 |
| Insurance | $28,505 |
| All other expenses | $2,957 |
| Total functional expenses | $7,135,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,525 |
| Savings and temporary cash investments | $3,595,227 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,827 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $112,565,013 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,690 |
| Net Land, buildings, and equipment | $1,088,735 |
| Investments—publicly traded securities | $116,383,834 |
| Investments—other securities | $255,786 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,281,329 |
| Total assets | $235,268,966 |
| Accounts payable and accrued expenses | $435,554 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $95,146,607 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $250,000 |
| Other liabilities | $125,278,264 |
| Total liabilities | $221,110,425 |
| Net assets without donor restrictions | $10,580,108 |
| Net assets with donor restrictions | $3,578,433 |
| 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 | $235,268,966 |
Grants Awarded
Over the last fiscal year, Florida Methodist Foundation Inc has awarded $77,400 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
REHACIENDO COMUNIDADES CON ESPERANZA INC PURPOSE: GRANT FOR HURRICANE RELIEF | $20,000 |
FAC BOARD OF CAMPS & RETREAT MINISTRIES PURPOSE: BELL ENDOWED CAMPING SCHOLARSHIP FUND | $37,400 |
FAC OF THE UNITED METHODIST CHURCH PURPOSE: GRANT FOR HURRICANE RELIEF | $20,000 |