The Methodist Foundation For Arkansas
- Assets
- $217.0m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Little Rock, AR
- Founding
- 07/2006
- Data as of
- 12/2023
- EIN
- 71-0525462
Organization Overview
The Methodist Foundation For Arkansas is located in Little Rock, AR. The organization was established in 2006. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Methodist Foundation For Arkansas employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Methodist Foundation For Arkansas 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, Methodist Foundation For Arkansas generated $6.0m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Methodist Foundation For Arkansas has awarded 108 individual grants totaling $5,849,633. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE METHODIST FOUNDATION FOR ARKANSAS IS TO CREATE AND ADMINISTER PERMANENT CHARITABLE ENDOWMENTS TO STRENGTHEN AND EXPAND METHODIST MINISTRIES IN ARKANSAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FUNDS TO THE ARKANSAS ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH AND VARIOUS CHURCHES WITHIN THE CONFERENCE FOR PROGRAMS ADVANCING THE UNITED METHODIST CHURCH AND ITS MINISTRIES.
PROVIDED FUNDS TO VARIOUS NONPROFIT ENTITIES IN AN EFFORT TO STRENGTHEN AND EXPAND THE RELEVANCE OF THE METHODIST CHURCH IN ARKANSAS BY PROVIDING FINANCIAL ASSISTANCE AND SUPPORT FOR INNOVATIVE AND CREATIVE MINISTRIES.
PROVIDED FUNDS TO THE UNIVERSITY OF ARKANSAS FOR MEDICAL SCIENCES SPECIFICALLY FOR THEIR 12TH STREET CLINIC IN SUPORT OF THEIR COMMITMENT TO IMPROVING THE HEALTH AND WELL-BEING OF THE SURROUNDING COMMUNITY. THE CLINIC SERVES AS A MODEL FOR FUTURE COMMUNITY EFFORTS TO IMPROVE HEALTH.
PROVIDED FUNDS TO PHILANDER SMITH UNIVERSITY AN HBCU SPONSORED BY THE UNITED METHODIST CHURCH IN SUPPORT OF ITS EFFORTS TO PROVIDE A QUALITY EDUCATION FOR ALL REGARDLESS OF RACE RELIGION SEX NATIONAL ORIGIN OR ETHNIC BACKGROUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Andrea Cummings Board Of Directors | Trustee | 0 | $0 |
Dr Debby Fiser Board Of Directors | Trustee | 0 | $0 |
Rev Jj Galloway Board Of Directors | Trustee | 0 | $0 |
Mr Sam Gibson Board Of Directors - Chairperson | OfficerTrustee | 5 | $0 |
Rev Phil Hathcock Board Of Directors - Secretary | Trustee | 0 | $0 |
Mr Bert Kell Board Of Directors - Vice Chairperson | Trustee | 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 | $2,824,014 |
| Noncash contributions included in lines 1a–1f | $9,124 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,824,014 |
| Total Program Service Revenue | $1,177,604 |
| Investment income | $1,114,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $914,578 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,030,554 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,489,628 |
| Grants and other assistance to domestic individuals. | $187,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $484,200 |
| Compensation of current officers, directors, key employees. | $383,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $497,633 |
| Pension plan accruals and contributions | $113,556 |
| Other employee benefits | $81,814 |
| Payroll taxes | $68,079 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,763 |
| Fees for services: Accounting | $15,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $151,943 |
| Office expenses | $45,119 |
| Information technology | $82,055 |
| Royalties | $0 |
| Occupancy | $120,453 |
| Travel | $70,572 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,526 |
| Interest | $654 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $129,263 |
| Insurance | $12,550 |
| All other expenses | $0 |
| Total functional expenses | $3,605,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,775,123 |
| 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 | $3,422,248 |
| Investments—publicly traded securities | $205,641,755 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,210,003 |
| Total assets | $217,049,129 |
| 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 | $112,479,188 |
| Total liabilities | $112,479,188 |
| Net assets without donor restrictions | $5,772,743 |
| Net assets with donor restrictions | $98,797,198 |
| 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 | $217,049,129 |
Grants Awarded
Over the last fiscal year, The Methodist Foundation For Arkansas has awarded $1,391,235 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
ARKANSAS CONFERENCE UMC PURPOSE: Religious | $317,109 |
UAMS 12TH STREET MEDICAL CLINIC PURPOSE: Religious | $195,655 |
PHILANDER SMITH UNIVERSITY PURPOSE: Religious | $105,000 |
CHILDREN S PROTECTION CENTER PURPOSE: Religious | $52,000 |
HENDRIX COLLEGE PURPOSE: Religious | $85,000 |
ARKANSAS FOOD BANK PURPOSE: Religious | $50,000 |