Business And Professional Foundation
- Assets
- $659.5k
- Revenue
- $11.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, TN
- Founding
- 12/1966
- Data as of
- 12/2023
- EIN
- 62-6163571
Organization Overview
Business And Professional Foundation is located in Springfield, TN. The organization was established in 1966. 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. Business And Professional Foundation 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, Business And Professional Foundation generated $11.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $1.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (15.1%) per year over the past 8 years. 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
TO SUBSTANTIALLY ASSIST IN PROVIDING FOR ADEQUATE HOUSING FOR ORGANIZED CHURCH GROUPS OF THE KENTUCKY-TENNESSEE CONFERENCE OF SEVENTH-DAY ADVENTISTS THAT WILL BE REPRESENTATIVE OF THE HIGH STANDARDS AND IDEALS OF THE DENOMINATION THROUGH NO INTEREST AND/OR LOW INTEREST LOANS.TO ASSIST IN EVANGELICAL, EDUCATIONAL, MEDICAL AND WELFARE PROGRAMS OF THE KENTUCKY- TENNESSEE CONFERENCE OF SEVENTH-DAY ADVENTISTS AT THE DISCRETION OF THE BOARD OF DIRECTORS AND AS FUNDS ARE AVAILABLE. TO FUNCTION IN ANY WAY PROVIDED BY THE CHARTER OF THE ORGANIZATION AS DEEMED WISE AND APPROPRIATE BY THE BOARD OF DIRECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT FOR YOUTH OUTREACH PROJECT
PROGRAM LOANS MONEY TO CHURCHS:1)$60,000 LOAN WAS PROVIDED TO THE SPRINGFIELD HISPANIC SDA CHURCH2)$16,000 LOAN WAS PROVIDED TO THE ASHLAND KY SDA CHURCH3)$45,000 LOAN WAS PROVIDED TO THE JAMESTOWN SDA CHURCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Boskind President | Trustee | 0.25 | $0 |
Ervin Brown Treasurer | OfficerTrustee | 1 | $0 |
April Vanapeldorn Board Member | Trustee | 0.25 | $0 |
Silke Hubbard Board Member | Trustee | 0.25 | $0 |
Joel Southerland Board Member | Trustee | 0.25 | $0 |
Amber Gallina Board Member | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $550 |
| Investment income | $10,755 |
| 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 | $11,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $0 |
| Total functional expenses | $1,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,455 |
| Savings and temporary cash investments | $438,954 |
| 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 | $177,100 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $659,509 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $659,509 |
| 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 | $659,509 |