The Believers Foundation Inc
- Assets
- $32.6m
- Revenue
- $681.8k
- Investments
- $26.8m
- Employees
- 0
- Location
- Seffner, FL
- Founding
- 05/1988
- Data as of
- 09/2023
- EIN
- 59-2851282
Organization Overview
The Believers Foundation Inc is located in Seffner, FL. The organization was established in 1988. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Believers 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 09/2023, Believers Foundation Inc generated $681.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $805.9k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Believers Foundation Inc has awarded 11 individual grants totaling $6,546,583. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS CONFERENCES, TRAINS PASTORS, AND TEACHES IN SCHOOLS. THE FOUNDATION ALSO SUPPORTS THE SPREADING OF THE GOSPEL THROUGH RELATED MISSIONARY ACTIVITIES THROUGHOUT THE WORLD.
PROVIDING CONSULTING, MANAGEMENT ADVISORY, AND FINANCIAL COACHING SERVICES WITHOUT CHARGE TO SEMINARIES AND INSTITUTES WITH WHOM THE FOUNDATION HAS HISTORICALLY SUPPORTED THROUGH ITS GRANTMAKING AND TRAINING EFFORTS WITH THE OBJECTIVE OF HELPING THE SEMINARIES BECOME FINANCIALLY SELF-SUFFICIENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen L Jaeb President | 10 | $20,667 | |
Kenneth G Fuller Vice President/exec. Dir. | 40 | $109,904 | |
Sandra D Jaeb Secretary/treasurer | 1 | $0 | |
Joel Jaeb Director | 5 | $3,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Be Garrett Llc | 9/29/21 | $193,506 |
Pnc Private Bank Hawthorn | 9/29/21 | $57,049 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $433,891 |
| Net Rental Income | $2,356 |
| Net Gain on Sale of Assets | $50,984 |
| Capital Gain Net Income | $50,984 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $194,526 |
| Total Revenue | $681,757 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $253,870 |
| Other employee salaries and wages | $85,000 |
| Pension plans, employee benefits | $34,129 |
| Interest | $0 |
| Taxes | $23,359 |
| Depreciation | $22,127 |
| Occupancy | $46,625 |
| Travel, conferences, and meetings | $66,915 |
| Printing and publications | $6,152 |
| Other expenses | $39,641 |
| Total operating and administrative expenses | $771,412 |
| Contributions, gifts, grants paid | $34,500 |
| Total expenses and disbursements | $805,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,410,701 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $188,237 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $3,963,205 |
| Investments—mortgage loans | $0 |
| Investments—other | $9,035,089 |
| Net Land, buildings, and equipment | $153,580 |
| Other assets | $25,342 |
| Total assets | $32,553,897 |
| Accounts payable and accrued expenses | $14,449 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,449 |
Grants Awarded
Over the last fiscal year, The Believers Foundation Inc has awarded $34,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EXALTING CHRIST IN HONDURAS PURPOSE: SEMINARY DORMITORY REMODEL | $20,000 |
GRACE BIBLE CHURCH PURPOSE: HUMANITARIAN AID IN UKRAINE | $14,500 |