Church Of God Foundation Inc
- Assets
- $49.7m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, TN
- Founding
- 05/2002
- Data as of
- 12/2023
- EIN
- 62-1870586
Organization Overview
Church Of God Foundation Inc is located in Cleveland, TN. The organization was established in 2002. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, 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. Church Of God 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, Church Of God Foundation Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 3.1% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CHURCH OF GOD FOUNDATION, INC. IS TO OFFER INVESTORS AND DONORS THE ABILITY TO PARTICIPATE IN INVESTMENT OPPORTUNITIES MANAGED FOR THE SOLE PURPOSE OF FURTHERING THE KINGDOM THROUGH THE PRUDENT STEWARDSHIP OF THOSE ASSETS.
Describe the Organization's Program Activity:
THE CHURCH OF GOD FOUNDATION SERVES AS A CHURCH EXTENSION FUND AND FINANCIAL SERVICES MINISTRY FOR THE CONSTITUENTS OF THE CHURCH OF GOD, CLEVELAND, TN. COGF PROVIDES CHURCH OF GOD CONSTITUENTS WITH INVESTMENT OPPORTUNITIES, PROVIDES FINANCING TO CHURCH OF GOD CHURCHES AND MINISTRIES, PROMOTES LEGACY GIVING PROGRAMS, SERVES AS TRUSTEE OF PLANNED GIFTS (CHARITABLE TRUSTS AND CHARITABLE GIFT ANNUITIES), PROVIDES FINANCIAL AND LEADERSHIP RESOURCES FOR CHURCH OF GOD MINISTERS AND CONGREGATIONS, AS WELL AS PROMOTING CHARITABLE GIVING TO CHURCH OF GOD MINISTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Watkins Chairman Of Board | Trustee | 1 | $0 |
Arthur D Rhodes Board Member | Trustee | 1 | $0 |
Travis Ballinger Board Member | Trustee | 1 | $0 |
Chris Conine Board Member | Trustee | 1 | $0 |
T Dwight Spivey President | Officer | 40 | $0 |
Emma Ogle Executive Secretary | Officer | 40 | $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 | $117 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $117 |
| Total Program Service Revenue | $2,803,865 |
| Investment income | $272,465 |
| 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 | $3,102,842 |
| 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 | $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 | $0 |
| Fees for services: Legal | $37,652 |
| Fees for services: Accounting | $42,726 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,736 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,529 |
| Office expenses | $6,337 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,715 |
| Travel | $36,782 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,252 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $29,057 |
| Total functional expenses | $2,319,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,400,527 |
| Savings and temporary cash investments | $1,459,151 |
| 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 | $42,996,051 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,803,908 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,659,637 |
| Accounts payable and accrued expenses | $162,591 |
| 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 | $44,765,487 |
| Total liabilities | $44,928,078 |
| Net assets without donor restrictions | $4,511,118 |
| Net assets with donor restrictions | $220,441 |
| 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 | $49,659,637 |