St Pauls United Methodist Church Of Cedar Rapids Foundation
- Assets
- $7.3m
- Revenue
- $1.2m
- Investments
- $7.2m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 03/2003
- Data as of
- 09/2022
- EIN
- 75-3093308
Organization Overview
St Pauls United Methodist Church Of Cedar Rapids Foundation is located in Cedar Rapids, IA. The organization was established in 2003. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, 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. St Pauls United Methodist Church Of Cedar Rapids 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 09/2022, St Pauls United Methodist Church Of Cedar Rapids Foundation generated $1.2m 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 $704.2k during the year ending 09/2022. While expenses have increased by 8.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ST PAUL'S UNITED METHODIST CHURCH OF CEDAR RAPIDS FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, RELIGIOUS OR SCIENTIFIC PURPOSES AND TO ENGAGE IN ACTIVITIES TO PROMOTE AND SUPPORT ST. PAUL'S UNITED METHODIST CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION CONTRIBUTES FUNDS TO ST. PAUL'S UNITED METHODIST CHURCH FOR SPECIAL PROJECTS, MISSIONS, CAPITAL PROJECTS AND OTHER DESIGNATED EXPENDITURES IN COMPLIANCE WITH DONOR RESTRICTIONS.
THE FOUNDATION CONTRIBUTES FUNDS TO VARIOUS COLLEGES AND UNIVERSITIES FOR THE PURPOSE OF PROVIDING COLLEGE SCHOLARSHIPS IN COMPLIANCE WITH DONOR RESTRICTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Oakland Dir/exec Dir | Trustee | 10 | $31,525 |
Joyce Fleming Vice Chair | OfficerTrustee | 1 | $0 |
Cindy Edge Secretary | OfficerTrustee | 1 | $0 |
Matt Preston Chairman | OfficerTrustee | 1 | $0 |
Sherrie Ilg Senior Pastor | Trustee | 1 | $0 |
Dannie Keck Director | Trustee | 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 | $791,509 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $791,509 |
| Total Program Service Revenue | $0 |
| Investment income | $202,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $165,782 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,159,292 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $584,854 |
| Grants and other assistance to domestic individuals. | $18,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $32,500 |
| Compensation of current officers, directors, key employees. | $32,500 |
| 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 | $3,100 |
| 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 | $789 |
| Information technology | $207 |
| Royalties | $0 |
| Occupancy | $4,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,035 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $127 |
| Total functional expenses | $704,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,469 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $7,248,612 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,255,081 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $7,255,081 |
| 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 | $7,255,081 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that St Pauls United Methodist Church Of Cedar Rapids Foundation has recieved totaling $12,553.
| Awarding Organization | Amount |
|---|---|
Greater Cedar Rapids Community Foundation Cedar Rapids, IA PURPOSE: ANNUAL DESIGNATED DISTRIBUTION | $12,493 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $60 |
Endowment Analysis
| Beg. Balance | $8,952,391 |
| Earnings | -$1,784,598 |
| Admin Expense | $100,867 |
| Net Contributions | $791,509 |
| Grants | $603,354 |
| Ending Balance | $7,255,081 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Agate Housing And Services Inc Minneapolis, MN | $17,135,849 | $18,145,205 |
The First Spoke Foundation Chicago, IL | $10,124,413 | $552,668 |
Catholic Foundation For The Archdiocese Of Dubuque Cedar Rapids, IA | $127,453,113 | $10,700,862 |
St Joseph Real Estate Services Corporation Green Bay, WI | $9,099,106 | $3,700,773 |
Bible League Foundation Crete, IL | $15,182,240 | $1,097,305 |
Chicago Southwest Development Corporation Chicago, IL | $14,735,476 | $67,891 |
Religion News Foundation Columbia, MO | $2,784,139 | $2,640,609 |
Calvin B Beach Trust 01-13620 Po Box Chicago, IL | $5,695,051 | $2,192,787 |
Know The Truth Ministries Inc Chanhassen, MN | $269,842 | $2,371,086 |
City On A Hill Inc Milwaukee, WI | $1,825,972 | $1,822,673 |
Olive Tree Ministries Maple Grove, MN | $7,814,889 | $4,185,907 |
Herzl Camp Foundation St Louis Park, MN | $6,175,107 | $1,858,323 |