Marketplace Ministries Foundation
- Assets
- $11.9m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Plano, TX
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 75-2749629
Organization Overview
Marketplace Ministries Foundation is located in Plano, TX. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marketplace Ministries Foundation 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, Marketplace Ministries Foundation generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $511.1k during the year ending 12/2021. While expenses have increased by 17.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT FOR MARKETPLACE MINISTRIES, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT MARKETPLACE MINISTRIES, INC., A RELATED ORGANIZATION.
A PROGRAM TO PROVIDE GRANTS AND SCHOLARSHIPS FOR THE FULL-TIME COLLEGE STUDENT CHILDREN OF THE FULL-TIME STAFF MEMBERS OF MARKETPLACE MINISTRIES, INC., A RELATED ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dick DE Witt Mmi Pres & CEO Start: 4/21 | OfficerTrustee | 1 | $0 |
Mark Lovvorn Chairman | OfficerTrustee | 1 | $0 |
Ed Bonneau Vice President | OfficerTrustee | 1 | $0 |
Dan Farell Treasurer | OfficerTrustee | 1 | $0 |
Kyle Hearon Secretary | OfficerTrustee | 1 | $0 |
Doug Fagerstrom Exec. Pres./ceo End: 4/21 | Officer | 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 | $65,620 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,620 |
| Total Program Service Revenue | $0 |
| Investment income | $202,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,400,125 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,668,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $304,956 |
| Grants and other assistance to domestic individuals. | $92,404 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,353 |
| Fees for services: Other | $57,339 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $511,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,264 |
| Savings and temporary cash investments | $7,262 |
| 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 | $0 |
| Investments—publicly traded securities | $11,826,633 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,785 |
| Total assets | $11,873,944 |
| Accounts payable and accrued expenses | $14,100 |
| 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 | $2,100,152 |
| Total liabilities | $2,114,252 |
| Net assets without donor restrictions | $2,052,206 |
| Net assets with donor restrictions | $7,707,486 |
| 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 | $11,873,944 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Marketplace Ministries Foundation has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Marketplace Ministries Inc Plano, TX PURPOSE: Fund endowments | $100,000 |
Endowment Analysis
| Beg. Balance | $8,564,925 |
| Earnings | $677,553 |
| Net Contributions | $65,620 |
| Other Expense | $18,452 |
| Ending Balance | $9,289,646 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Texas Rehab Tr Wichita Falls, TX | $0 | $190,992 |
Oldham Little Church Foundation Houston, TX | $30,137,970 | $4,323,104 |
Susan Vaughan Foundation Inc Houston, TX | $23,902,558 | $2,793,017 |
Philanthropy Southwest Dallas, TX | $1,640,752 | $1,479,190 |
George William Patton & Mary Patton Foundation Trust B Dallas, TX | $13,113,675 | $1,965,133 |
Marketplace Ministries Foundation Plano, TX | $11,873,944 | $1,668,158 |
Paris Legacy Foundation Inc Paris, TX | $7,749,974 | $897,931 |
Fund For Change Santa Fe, NM | $531,456 | $472,266 |
Heart Trust Wichita Falls, TX | $4,914,220 | $475,077 |
Cancer Trust Wichita Falls, TX | $4,914,220 | $475,077 |
Boys Ranch Tr Wichita Falls, TX | $4,914,220 | $475,077 |
North Arkansas Medical Foundation Harrison, AR | $1,182,854 | $844,656 |