Richard Pearson Ministries Inc
- Assets
- $1.1m
- Revenue
- $393.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Clearwater, FL
- Founding
- 07/1996
- Data as of
- 12/2023
- EIN
- 73-1478501
Organization Overview
Richard Pearson Ministries Inc, operating under the name Prophecy Usa, is located in Clearwater, FL. The organization was established in 1996. According to its NTEE Classification (X21) the organization is classified as: Protestant, 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. Prophecy USA 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, Prophecy USA generated $393.2k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $529.9k during the year ending 12/2023. 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
PROCLAIM THE GOSPEL OF JESUS CHRIST
Describe the Organization's Program Activity:
Part 3 - Line 4a
RICHARD PEARSON MINISTRIES, INC. PROVIDES A WEEKLY TV BIBLE TEACHING PROGRAM ON OVER 120 TV STATIONS IN THE USA REACHING APPROXIMATELY 120,000 - 150,000 VIEWERS AT A COST OF $300,000 ANNUALLY. OUR MANDATE IS TO UNVEIL AMERICA'S ROLE IN BIBLE PROPHECY, HOW IT RELATES TO CURRENT PROPHETIC EVENTS, AND WHAT WE BELIEVE IS COMING TO THE NATION AND TO THE WORLD AS INTERPRETED BY SCRIPTURE. ADDITIONAL PODCAST TEACHING IS DONE ON YOUTUBE WHICH HAS REACHED OVER 1,000,000 VIEWS AT NO CHARGE. OUR MOBILE APP, OUTSOURCED THROUGH LIGHTCAST HAS REACHED AN ADDITIONAL 700,000 VIEWERS AT A COST OF $15,000 ANNUALLY. LIGHTCAST PROVIDES MOBILE VIEWERSHIP ON ROKU, IOS, APPLE TV AND RUMBLE. VIDEOS ARE ALSO AVAILABLE ON OUR WEB SITE FREE OF CHARGE. WE HAVE SELF-PUBLISHED FOUR BOOKS WHICH ARE AVAILABLE ON AMAZON AND ON OUR WEBSITE VIA SALE OR DONATION.OUR MINISTRY RESPONDS TO QUESTIONS VIA DIRECT MAIL, SOCIAL MEDIA EMAIL, FACEBOOK, INSTAGRAM, X(TWITTER), AND RUMBLE. THE HOST AND FOUNDER OF RICHARD PEARSON MINISTRIES WRITES ALL SCRIPTS AND HOSTS THE TV PROGRAM WHICH IS PRODUCED MOSTLY IN CANADA. KAREN PEARSON CO-HOSTS THE TV AND PODCAST PROGRAMS AND DOES PARTNER CORRESPONDENCE VIA EMAIL AND DIRECT MAIL. NEITHER RICHARD NOR KAREN DRAWS ANY SALARY FOR THEIR WORK. THERE ARE NO OTHER FULLTIME US EMPLOYEES INVOLVED WITH THE MINISTRY, BUT WE DO HAVE PART-TIME CONSULTANTS WHO CONSULT US ON MINISTRY TASKS. OUR CANADIAN MINISTRY, WHICH IS A SEPARATE REGISTERED CHARITY IN CANADA, HAS ONE FULLTIME TECHNICAL ENGINEER AND TWO PART-TIME BOOKKEEPERS. THESE EMPLOYEES ARE PAID DIRECTLY FROM OUR CANADIAN CHARITY, BUT THEIR SKILLS ARE UTILIZED BY THE US CHARITY AT NO CHARGE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Pearson President | OfficerTrustee | 20 | $0 |
Karen Pearson Treasurer | OfficerTrustee | 5 | $0 |
Philip Derstine Secretary | OfficerTrustee | 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 | $358,944 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $358,944 |
| Total Program Service Revenue | $32,639 |
| Investment income | $652 |
| 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 | -$42 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $393,190 |
| 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 | $0 |
| Fees for services: Accounting | $6,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,280 |
| Advertising and promotion | $10,507 |
| Office expenses | $4,515 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,208 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,803 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,617 |
| Insurance | $0 |
| All other expenses | $3,662 |
| Total functional expenses | $529,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $364,265 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,272 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,914 |
| Prepaid expenses and deferred charges | $3,185 |
| Net Land, buildings, and equipment | $7,850 |
| Investments—publicly traded securities | $650,651 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160 |
| Total assets | $1,054,297 |
| Accounts payable and accrued expenses | $29,655 |
| 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 | $1,003,109 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,032,764 |
| 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 | $21,533 |
| Total liabilities and net assets/fund balances | $1,054,297 |
Grants Awarded
Over the last fiscal year, Richard Pearson Ministries Inc has awarded $17,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KENNETH COPELAND MINISTRIES PURPOSE: RELIGIOUS TEACHINGS | $10,000 |
IMPACT PRODUCTIONS PURPOSE: RELIGIOUS OUTREACH | $7,000 |