Precept Ministries Of Reach Out Inc
- Assets
- $7.2m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 95
- Location
- Chattanooga, TN
- Founding
- 04/2015
- Data as of
- 12/2023
- EIN
- 62-0841438
Organization Overview
Precept Ministries Of Reach Out Inc is located in Chattanooga, TN. The organization was established in 2015. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2023, Precept Ministries Of Reach Out Inc employed 95 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precept Ministries Of Reach Out 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, Precept Ministries Of Reach Out Inc generated $11.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $15.1m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 7 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
ENGAGING PEOPLE IN RELATIONSHIP WITH GOD THROUGH KNOWING HIS WORD
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINISTRY IS A RELIGIOUS ORGANIZATION THAT OPERATES PRIMARILY BY FORMING, FACILITATING AND SUPPORTING GROUPS OF INDIVIDUALS WHO ASSEMBLE REGULARLY FOR COMMUNAL WORSHIP. MORE SPECIFICALLY, THE PRINCIPAL MEANS BY WHICH THE MINISTRY ACCOMPLISHES ITS MISSION IS TO FACILITATE SMALL GROUPS (OR CONGREGATIONS) OF INDIVIDUALS WHO MEET REGULARLY TO ENGAGE IN BIBLE STUDY AND OTHER WORSHIP ACTIVITIES (INCLUDING PRAYER AND FELLOWSHIP) IN ACCORDANCE WITH THE MINISTRY'S RELIGIOUS BELIEFS. THE MINISTRY CURRENTLY HAS OVER 50,000 SUCH GROUPS MEETING REGULARLY IN OVER 150 COUNTRIES. THE MINISTRY USES PRINTED MATERIALS, SOCIAL MEDIA, AND THE INTERNET TO PROMOTE AND CONDUCT BIBLE STUDIES, ESTIMATED TO REACH SEVERAL MILLION GLOBAL CONGREGANTS ANNUALLY. THE MINISTRY ALSO CONDUCTS VARIOUS WORKSHOPS AND CONFERENCES, TRAINING HUNDREDS OF INDIVIDUALS TO CONDUCT BIBLE STUDIES AND BIBLE STUDY CONFERENCES. FINALLY, THE MINISTRY SUPPORTS INDIGENOUS MISSIONARIES AND BIBLE STUDY GROUPS IN FOREIGN COUNTRIES. THE MINISTRY ESTIMATES THAT THESE MISSIONARY ACTIVITIES HAVE REACHED OVER 190 COUNTRIES WITH BIBLE STUDY MATERIALS TRANSLATED INTO OVER 90 LANGUAGES.
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 |
|---|---|---|---|
Kay Arthur Cofounder & Board Member | Trustee | 40 | $151,969 |
Steve Strand Board Chairman | Trustee | 2 | $0 |
John Wilcox Board Vice Chair | Trustee | 2 | $0 |
Ken Guise Board Member | Trustee | 2 | $0 |
Cary Humphries Board Member | Trustee | 2 | $0 |
Marilyn Crone Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Soltech Software Development | 12/30/23 | $1,657,578 |
Pathway Printing(dockins Graphics Inc) Printing | 12/30/23 | $387,127 |
Foxfuel Creative Llc Marketing Consulting | 12/30/23 | $619,493 |
Simmons Strategy Group Marketing Consulting | 12/30/23 | $207,715 |
Ups Shipping | 12/30/23 | $277,422 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,361,917 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,282,066 |
| Noncash contributions included in lines 1a–1f | $457,858 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,643,983 |
| Total Program Service Revenue | $57,569 |
| Investment income | $60,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $127,818 |
| Net Rental Income | $28,291 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$155,982 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,032,032 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,912,882 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,563,687 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $955,582 |
| Compensation of current officers, directors, key employees. | $277,079 |
| Compensation to disqualified persons | $98,745 |
| Other salaries and wages | $4,567,009 |
| Pension plan accruals and contributions | $124,774 |
| Other employee benefits | $507,689 |
| Payroll taxes | $381,072 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,900 |
| Fees for services: Accounting | $39,618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,239,126 |
| Advertising and promotion | $0 |
| Office expenses | $305,414 |
| Information technology | $1,101,558 |
| Royalties | $4,719 |
| Occupancy | $170,904 |
| Travel | $191,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $510,429 |
| Insurance | $173,181 |
| All other expenses | $88,483 |
| Total functional expenses | $15,057,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,838,938 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,164 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $401,230 |
| Prepaid expenses and deferred charges | $96,503 |
| Net Land, buildings, and equipment | $2,791,462 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,164,297 |
| Accounts payable and accrued expenses | $556,522 |
| 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 | $0 |
| Total liabilities | $556,522 |
| Net assets without donor restrictions | $6,607,775 |
| 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 | $7,164,297 |