Baptist Church Loan Corporation
- Assets
- $151.5m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 10
- Location
- Dallas, TX
- Founding
- 03/1959
- Data as of
- 06/2022
- EIN
- 75-1439170
Organization Overview
Baptist Church Loan Corporation is located in Dallas, TX. The organization was established in 1959. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2022, Baptist Church Loan Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baptist Church Loan Corporation 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 06/2022, Baptist Church Loan Corporation generated $5.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $2.7m during the year ending 06/2022. 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
ASSIST CHURCHES IN THEIR EFFORTS TO SPREAD THE GOSPEL BY PROVIDING AFFORDABLE REAL ESTATE LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISH NEW CONGREGATIONS AND STRENGTHEN EXISTING ONES BY PROVIDING AND SERVICING LOANS FOR LAND PURCHASE, CONSTRUCTION, IMPORVING CURRENT FACILITIES, OR PUCHASING A NEW FACILITY FOR WORSHIP/RELIGIOUS INSTRUCTION. 399 LOANS OUTSTANDING AS OF YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Shelton Chairman Of The Board | OfficerTrustee | 2 | $0 |
Bryan Rogers Vice Chairman | OfficerTrustee | 2 | $0 |
Barbara Jane Kaplan Director | Trustee | 2 | $0 |
Lynn Meers Director | Trustee | 2 | $0 |
Michael Mason Director | Trustee | 2 | $0 |
Glenn Gaines Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prosperity Bank Note Payments | 6/29/22 | $11,068,743 |
Amegy Bank Note Payments | 6/29/22 | $4,236,293 |
Douglas Center - Hp Lp Rent And Construction | 6/29/22 | $240,310 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,801,678 |
| Investment income | $20,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,150 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,846,467 |
| 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. | $872,780 |
| Compensation of current officers, directors, key employees. | $164,615 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $463,739 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,904 |
| Payroll taxes | $75,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,295 |
| Fees for services: Accounting | $33,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $181,536 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $151,811 |
| Travel | $57,936 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,005 |
| Interest | $1,317,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,814 |
| Insurance | $45,905 |
| All other expenses | $0 |
| Total functional expenses | $2,739,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,481,575 |
| Savings and temporary cash investments | $148,771 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $341,527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $129,044,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,388 |
| Net Land, buildings, and equipment | $232,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,140,083 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $151,480,737 |
| Accounts payable and accrued expenses | $288,753 |
| 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 | $33,426,746 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,715,499 |
| Net assets without donor restrictions | $117,765,238 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $151,480,737 |