Faith Charities Inc
- Assets
- $254.6k
- Revenue
- $340.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Corpus Christi, TX
- Founding
- 12/1996
- Data as of
- 12/2021
- EIN
- 74-2797643
Organization Overview
Faith Charities Inc is located in Corpus Christi, TX. The organization was established in 1996. 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. Faith Charities 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 12/2021, Faith Charities Inc generated $340.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.5% each year . All expenses for the organization totaled $208.5k during the year ending 12/2021. While expenses have increased by 20.9% per year over the past 7 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.
Since 2015, Faith Charities Inc has awarded 71 individual grants totaling $737,357. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Laudadio II Director | 1 | $0 | |
Daphne J Laudadio Vice President | 1 | $0 | |
Cornelius M Hayes III Director | 1 | $0 | |
Tracey Velez Secretary | 1 | $0 | |
Kelly Laudadio Director | 1 | $0 | |
Lindsay Laudadio Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $339,964 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $339,964 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $800 |
| Contributions, gifts, grants paid | $207,650 |
| Total expenses and disbursements | $208,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,630 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $254,630 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Faith Charities Inc has awarded $207,650 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
FULLNESS OF TRUTH PURPOSE: TO PROMOTE AND SHARE THE INESTIMABLE GIFT AND IRREFUTABLE TRUTH OF THE ROMAN CATHOLIC FAITH WITH ALL, THOUGH WITH SINCERE CHARITY AND REVERENCE. | $62,500 |
OUR LADY OF CORPUS CHRISTI PURPOSE: TO FACILITATE A LIVING ENCOUNTER WITH JESUS CHRIST IN HIS CHURCH. | $25,500 |
MAGNOLIA SCHOOL PURPOSE: TO PREPARE YOUNG WOMEN FOR A LIFE DISTINGUISHED BY EXCELLENCE, GOODNESS, AND JOY. RECOGNIZING THAT IN A WHOLLY REALIZED EDUCATION, KNOWLEDGE AND LOVE GO HAND-IN-HAND. | $20,000 |
OUR LADY OF GUADALUPE PURPOSE: TO ASSIST LESS FORTUNATE FAMILIES IN CORPUS CHRISTI, TX. | $19,250 |
ST FRANCIS DE PAULA CATHOLIC CHURCH PURPOSE: TO GATHER AROUND CHRIST IN THE EUCHARIST. NOURISHED BY THE BODY AND BLOOD OF JESUS CHRIST TO GO FORTH TO DO CORPORAL AND SPIRITUAL WORKS OF MERCY TO FULFILL HIS COMMAND, "LOVE ONE ANOTHER AS I HAVE LOVED YOU." | $18,500 |
THE ALEXANDER HOUSE PURPOSE: TO ASSIST IN PRESERVING THE MARRIAGE COVENANT, BUILD STRONG FAMILIES AND LOWER THE DIVORCE RATE. | $17,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |