Founders Ministries Inc
- Assets
- $1.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Cape Coral, FL
- Founding
- 03/1992
- Data as of
- 12/2022
- EIN
- 65-0243661
Organization Overview
Founders Ministries Inc is located in Cape Coral, FL. The organization was established in 1992. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2022, Founders Ministries Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Founders Ministries 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 12/2022, Founders Ministries Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 33.8% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 32.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROCLAIM THE GOSPEL OF JESUS CHRIST THROUGH A MINISTRY OF TEACHING AND ENCOURAGEMENT PROMOTING
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDERS PUBLICATIONS SOLD ON SUBSCRIPTION BASIS AND DIRECT SALES OF BOOKS, CDS & DVDS. A WEEKLY PODCAST IS ALSO AVAILABLE.
STUDY CENTER PROVIDED COURSES, RESOURCES, AND TRAINING MATERIALS FOR THOSE IN MINISTRY OR PURSUING THE MINISTRY OF THE GOSPEL.
NATIONAL & REGIONAL CONFERENCES - PROVIDED SUPPORT FOR TWO REGIONAL CONFERENCES AND MAINTAINED EXHIBITS AT THREE NATIONAL CONFERENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas K Ascol President | OfficerTrustee | 40 | $90,000 |
Travis Allen Chairman | OfficerTrustee | 0 | $0 |
Bill Ascol Secretary | OfficerTrustee | 0 | $0 |
Voddie Baucham Director | Trustee | 0 | $0 |
William Willcutts Director | Trustee | 0 | $0 |
Jared Longshore Treasurer | OfficerTrustee | 0 | $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 | $820,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $820,778 |
| Total Program Service Revenue | $504,851 |
| Investment income | $21,696 |
| 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 | $1,432,586 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $45,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,678 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150 |
| Fees for services: Accounting | $24,703 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,631 |
| Advertising and promotion | $13,202 |
| Office expenses | $34,833 |
| Information technology | $13,751 |
| Royalties | $0 |
| Occupancy | $9,917 |
| Travel | $2,966 |
| 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 | $5,373 |
| Insurance | $4,092 |
| All other expenses | $0 |
| Total functional expenses | $1,130,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,371,863 |
| Savings and temporary cash investments | $114,352 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $294 |
| 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 | $104,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,590,726 |
| Accounts payable and accrued expenses | $15,554 |
| 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 | $37,817 |
| Total liabilities | $53,371 |
| Net assets without donor restrictions | $0 |
| 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 | $1,537,355 |
| Total liabilities and net assets/fund balances | $1,590,726 |