The Believers Foundation Inc
- Assets
- $34.3m
- Revenue
- $1.2m
- Investments
- $31.6m
- Employees
- 0
- Location
- Seffner, FL
- Founding
- 05/1988
- Data as of
- 09/2021
- 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 09/2021, Believers Foundation Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 44.4% each year . All expenses for the organization totaled $853.0k during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS CONFERENCES, TRAINS PASTORS, AND TEACHES IN SCHOOLS.
THE FOUNDATION SUPPORTS THE SPREADING OF THE GOSPEL THROUGH DIRECT MISSIONARY ACTIVITIES IN VARIOUS LOCATIONS THROUGHOUT THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth G Fuller Vice President/exec. Dir. | 40 | $109,904 | |
Stephen L Jaeb President | 10 | $6,000 | |
Sandra D Jaeb Secretary/treasurer | 1 | $0 |
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 | $314,391 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $731,248 |
| Capital Gain Net Income | $2,314,165 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $144,527 |
| Total Revenue | $1,190,166 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $115,904 |
| Other employee salaries and wages | $44,974 |
| Pension plans, employee benefits | $89,331 |
| Interest | $0 |
| Taxes | $34,099 |
| Depreciation | $21,048 |
| Occupancy | $260,747 |
| Travel, conferences, and meetings | $34,584 |
| Printing and publications | $14,038 |
| Other expenses | $62,018 |
| Total operating and administrative expenses | $852,982 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $852,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,853,245 |
| 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 | $212,237 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $14,200,184 |
| Net Land, buildings, and equipment | $193,978 |
| Other assets | $521,570 |
| Total assets | $34,341,788 |
| Accounts payable and accrued expenses | $162,745 |
| 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 | $162,745 |
Grants Awarded
Over the last fiscal year, The Believers Foundation Inc has awarded $1,002,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Alpharetta, GA PURPOSE: TO SPREAD THE GOSPEL OF JESUS CHRIST | $1,000,000 |
Robbinsville, NC PURPOSE: TO SPREAD THE GOSPEL OF JESUS CHRIST | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Emergency Assistance Foundation Inc West Palm Beach, FL | $75,784,415 | $87,494,207 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Truist Foundation Inc Orlando, FL | $535,253,915 | $119,578,224 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Publix Super Markets Charities Inc Lakeland, FL | $259,322,738 | $58,315,085 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |