Gospel Growth Fund
- Assets
- $17.2m
- Revenue
- $470.9k
- Investments
- $17.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 02/2006
- Data as of
- 12/2022
- EIN
- 84-1696604
Organization Overview
Gospel Growth Fund is located in Wilmington, DE. The organization was established in 2006. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Gospel Growth Fund 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 12/2022, Gospel Growth Fund generated $470.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 2.5% 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 2016, Gospel Growth Fund has awarded 197 individual grants totaling $6,688,300. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev James O Brown Jr Trustee | 2 | $0 | |
Gregg Noll Trustee | 2 | $0 | |
Janna E Scheflen Secretary/trustee | 2 | $0 | |
John W Scheflen President/trustee/treasure | 10 | $0 | |
Marcia W Scheflen Vice President/trustee | 2 | $0 | |
Rev Jason Sica Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $285,948 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $173,973 |
| Capital Gain Net Income | $173,973 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,000 |
| Total Revenue | $470,921 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $53,600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $85 |
| Total operating and administrative expenses | $148,402 |
| Contributions, gifts, grants paid | $948,500 |
| Total expenses and disbursements | $1,096,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,736 |
| 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 | $17,012,701 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,199,437 |
| 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, Gospel Growth Fund has awarded $948,500 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
CHRIST PRESBYTERIAN CHURCH PRESBYTERIAN CHURCH IN AMERICA PURPOSE: CHURCH PLANTING | $10,000 |
CHRIST UNITED FELLOWSHIP PRESBYTERIAN CHURCH IN AMERICA PURPOSE: CHURCH PLANTING | $10,000 |
CHRIST THE KING PRESBYTERIAN CHURCH PRESBYTERIAN CHURCH IN AMERICA PURPOSE: CHURCH PLANTING | $20,000 |
CHURCH OF THE APOSTLES ANGLICAN CHURCH NORTH AMERICA PURPOSE: CHURCH PLANTING | $15,000 |
CITY CHURCH WILMINGTON PRESBYTERIAN CHURCH IN AMERICA PURPOSE: OPERATING SUPPORT | $30,000 |
COVENANT PRESBYTERIAN CHURCH PRESBYTERIAN CHURCH IN AMERICA PURPOSE: CHURCH PLANTING | $10,000 |