Lifeword Broadcast Ministries
- Assets
- $5.5m
- Revenue
- $1.7m
- Investments
- $3.8m
- Employees
- 9
- Location
- Conway, AR
- Founding
- 08/1969
- Data as of
- 05/2024
- EIN
- 71-0394665
Organization Overview
Lifeword Broadcast Ministries is located in Conway, AR. The organization was established in 1969. According to its NTEE Classification (X84) the organization is classified as: Religious Radio, under the broad grouping of Religion-Related and related organizations. As of 05/2024, Lifeword Broadcast Ministries employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifeword Broadcast Ministries 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 05/2024, Lifeword Broadcast Ministries generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.9m during the year ending 05/2024. While expenses have increased by 6.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
LIFEWORD BROADCAST MINISTRIES OPERATES EXCLUSIVELY FOR RELIGIOUS PURPOSES. THIS PURPOSE IS ACCOMPLISHED BY DEVELOPMENT, PRODUCATION AND/OR DISTRIBUTION OF RADIO AND TELEVISION PROGRAMS, MUSIC AND CHRISTIAN EDUCATION MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL
BROADCASTING
DEPARTMENTAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Hernandez Board Member | Trustee | 10 | $0 |
Marvin Delk Sr Board Member | Trustee | 10 | $0 |
Ross Burgess Board Member | Trustee | 10 | $0 |
Michele Corder Board Member | Trustee | 10 | $0 |
Rodney Burns Board Member | Trustee | 10 | $0 |
Dan Wisely Board Member | Trustee | 10 | $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 | $978,004 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $978,004 |
| Total Program Service Revenue | $22,367 |
| Investment income | $20,577 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,200 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $549,165 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,670,031 |
| 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. | $52,057 |
| Compensation of current officers, directors, key employees. | $10,411 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $468,516 |
| Pension plan accruals and contributions | $27,629 |
| Other employee benefits | $99,506 |
| Payroll taxes | $36,619 |
| 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 | $12,070 |
| Office expenses | $29,395 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,993 |
| Travel | $28,193 |
| 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 | $37,922 |
| Insurance | $11,118 |
| All other expenses | $60,792 |
| Total functional expenses | $1,857,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $207,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,448 |
| 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 | $40,810 |
| Net Land, buildings, and equipment | $605,076 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,831,161 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $777,385 |
| Total assets | $5,478,470 |
| Accounts payable and accrued expenses | $79,154 |
| 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 | $79,154 |
| Net assets without donor restrictions | $4,557,298 |
| Net assets with donor restrictions | $842,018 |
| 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 | $5,478,470 |
Grants Awarded
Over the last fiscal year, Lifeword Broadcast Ministries has awarded $0 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BMA FOUNDATION PURPOSE: CONTRIBUTION TO FOUNDATION OF WHICH LIFEWORD IS A BENEFICIARY. | $0 |
DISCIPLE GUIDE PURPOSE: CONTRIBUTION TO DG FOR A PROGRAM TO HELP STRUGGLING CHURCHES WHICH ARE PROSPECTS FOR FUTURE FUNDING | $0 |