Second Presbyterian Church Foundation Inc
- Assets
- $28.7m
- Revenue
- $517.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 08/1998
- Data as of
- 06/2022
- EIN
- 62-1744695
Organization Overview
Second Presbyterian Church Foundation Inc is located in Memphis, TN. The organization was established in 1998. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Second Presbyterian Church 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 06/2022, Second Presbyterian Church Foundation Inc generated $517.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Second Presbyterian Church Foundation Inc has awarded 180 individual grants totaling $13,302,304. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROMOTE THE KINGDOM OF GOD THROUGH THE APPROVED MINISTRIES OF SECOND PRESBYTERIAN CHURCH BY DEVELOPING, INVESTING AND DISBURSING FINANCIAL RESOURCES FOR STRATEGIC MINISTRIES IN MEMPHIS, AMERICA AND AROUND THE WORLD.
Describe the Organization's Program Activity:
CHRISTIAN EDUCATION FOUNDATION- THE ORGANIZATION PROVIDES TRAINING OF FUTURE CHRISTIAN LEADERS FOR SERVICE AS PASTORS, YOUTH DIRECTORS, AND OTHER FULL-TIME CHRISTIAN SERVICE.
DOMESTIC MISSION FOUNDATION- THE ORGANIZATION PROVIDES SUPPORT TO EVANGELICAL CHURCHES IN THE UNITED STATES.
WORLD MISSION FOUNDATION- THE ORGANIZATION PROVIDES SUPPORT FOR MISSIONARY ACTIVITY AROUND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David F Leake President | OfficerTrustee | 1 | $0 |
Richard C Moore Jr Chairman | OfficerTrustee | 1 | $0 |
Susie S Craft Secretary | OfficerTrustee | 1 | $0 |
John D Ivy Jr Treasurer | OfficerTrustee | 1 | $0 |
John D Alexander Director | Trustee | 1 | $0 |
Jeffrey L Billions Director | Trustee | 1 | $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 | $461,234 |
| Noncash contributions included in lines 1a–1f | $50,860 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $461,234 |
| Total Program Service Revenue | $0 |
| Investment income | $56,444 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $517,678 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,208,254 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $195,129 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,183 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $25,509 |
| Total functional expenses | $1,444,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,367,368 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $27,360,183 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $810 |
| Total assets | $28,728,361 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $75,000 |
| 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 | $173,655 |
| Total liabilities | $248,655 |
| Net assets without donor restrictions | $20,373,557 |
| Net assets with donor restrictions | $8,106,149 |
| 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 | $28,728,361 |
Grants Awarded
Over the last fiscal year, Second Presbyterian Church Foundation Inc has awarded $958,532 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: GENERAL SUPPORT | $432,893 |
Memphis, TN PURPOSE: GENERAL SUPPORT | $86,780 |
ALCY BALL COMMUNITY DEVELOPMENT PURPOSE: GENERAL SUPPORT | $70,078 |
THIRD MILLENNIUM PURPOSE: GENERAL SUPPORT | $50,000 |
Vienna, VA PURPOSE: GENERAL SUPPORT | $45,700 |
ALLEGRO ORGANIZATIONS SOLUTIONS PURPOSE: GENERAL SUPPORT | $40,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Second Presbyterian Church Foundation Inc has recieved totaling $76,900.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $60,100 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $16,800 |
Endowment Analysis
| Beg. Balance | $31,687,572 |
| Earnings | -$4,746,054 |
| Net Contributions | $221,720 |
| Other Expense | $1,195,770 |
| Ending Balance | $25,967,468 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inspiritus Inc Atlanta, GA | $4,563,820 | $17,981,504 |
Rescue Missions Ministries Inc Durham, NC | $22,198,926 | $18,805,895 |
Lifeshape Inc Atlanta, GA | $41,056,311 | $15,846,732 |
Haggai International Institute For Advanced Leadership Training Inc Peachtree Corners, GA | $41,354,774 | $16,620,781 |
Haven Of Our Lady Of Peace Inc St Louis, MO | $8,612,583 | $10,375,484 |
Elam Ministries Inc Alpharetta, GA | $5,679,728 | $12,042,641 |
Advancing Native Missions Afton, VA | $4,333,922 | $11,124,622 |
National Pro-Life Alliance Springfield, VA | $3,799,169 | $8,934,186 |
Wellspring Living Inc Atlanta, GA | $3,565,992 | $9,107,143 |
Sail-School For Arts-Infused Learning Evans, GA | $15,793,761 | $7,096,452 |
Artists In Christian Testimony Brentwood, TN | $4,393,846 | $10,064,345 |
Acca Inc Annandale Christian Community For Action Annandale, VA | $4,445,077 | $8,164,971 |