St Teresa Ministries Inc is located in Bowling Green, KY. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2022, St Teresa Ministries Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Teresa Ministries 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 12/2022, St Teresa Ministries Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 25.0% each year . All expenses for the organization totaled $748.3k during the year ending 12/2022. While expenses have increased by 23.8% per year over the past 3 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. TERESA MINISTRIES BEGAN OPERATING IN MAY 2020.OUR MISSION IS TO PROVIDE FOOD, BASIC NECESSITIES, AND EMERGENCY SERVICES FOR LOW INCOME EARNERS AND THE ELDERLY BY USING STM THRIFT STORE ASSETS AND BY DEVELOPING AND ENHANCING COMMUNITY PARTNERSHIPS. WE BELIEVE THAT WE HAVE A PURPOSE AS A NONPROFIT CATHOLIC ORGANIZATION TO HELP THOSE IN OUR COMMUNITY WITH THEIR NEEDS IN VARIOUS WAYS. WE LOOK FORWARD TO THE FUTURE OF OUR ORGANIZATION AS THE HOLY SPIRIT GUIDES US TO BE THE HANDS AND FEET OF JESUS CHRIST, IN BOWLING GREEN, KENTUCKY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ST. TERESA MINISTRIES BEGAN OPERATING IN MAY 2020. THE ORGANIZATION HAS HAD A PRODUCTIVE THIRD YEAR AND HAS BEEN ABLE TO CARRY OUT THE VISION TO SERVE THOSE IN NEED IN OUR COMMUNITY. OUR MISSION IS TO PROVIDE FOOD, BASIC NECESSITIES, AND EMERGENCY SERVICES FOR LOW INCOME EARNERS AND THE ELDERLY BY USING STM THRIFT STORE ASSETS AND BY DEVELOPING AND ENHANCING COMMUNITY PARTNERSHIPS. IN SUPPORT OF OUR MISSION, STM CONTINUES TO FINANCIALLY SUPPORT HOLY SPIRIT ST. VINCENT DEPAUL AND ST. JOSEPH DEPAUL FOOD PANTRIES. BOTH FOOD PANTRIES CONTINUE TO HAVE A LARGE NUMBER OF CLIENTS THAT RELY ON THEM FOR BIMONTHLY FOOD SUPPORT. WE CONTINUE TO COLLABORATE WITH COMMUNITY PARTNERS TO BETTER SERVE OUR COMMUNITY. THIS YEAR WE WERE ABLE TO DONATE 80,000 TO HABITAT FOR HUMANITY FOR THEIR BG BUILD PROJECT. THROUGH THIS PROGRAM, TEN FAMILIES WILL HAVE ACCESS TO AFFORDABLE HOME OWNERSHIP. IN ADDITION, THESE FAMILIES HAVE BEEN ABLE TO UTILIZE OUR STORE FOR BASIC HOME NEEDS. WE WERE ALSO ABLE TO DONATE 20,000 TO THE FAMILY ENRICHMENT CENTER'S WEE CARE PROGRAM IN ORDER TO HELP PROVIDE AFFORDABLE CHILDCARE TO LOW INCOME FAMILIES. WE HAVE GIVEN DONATIONS TO THE GOOD SAMARITAN GROUP TO HELP PROVIDE A MEAL AND BASIC TOILITRIES TO RESIDENTS OF A LOW INCOME HOUSING PROJECT IN BOWLING GREEN. WE PLAN TO CONTINUE OUR RELATIONSHIPS WITH THE ABOVE MENTIONED ORGANIZATIONS AS WELL AS SEEK OUT OTHER GROUPS IN OUR COMMUNITY WITH A SIMILAR MISSION. DUE TO THE TORNADO DAMAGE TO OUR ST. TERESA THRIFT STORE, A DECISION WAS MADE TO TEAR DOWN OUR CURRENT LOCATION. THEREFORE, WE ARE GOING TO BE MOVING IN 2023 TO FAIRVIEW AVENUE CENTER. WHILE WE FEEL VERY POSITIVE ABOUT THIS MOVE, WE WILL HAVE A SUBSTANTIAL INCREASE IN BASIC MONTHLY EXPENSES. WE ANTICIPATE THAT SALES WILL BE SOMEWHAT LOWER FOR THE WEEKS LEADING UP TO THE MOVE. BUT, WE FEEL HOPEFUL THAT SALES AND DONATIONS WILL CONTINUE TO GROW IN THE MONTHS AHEAD. WE ARE CONTINUALLY AMAZED AND GRATEFUL FOR THE HEARTS OF THOSE IN OUR COMMUNITY THAT SUPPORT ST. TERESA MINISTRIES. EACH DONATION, NO MATTER THE SIZE, GOES TO SERVE THIS COMMUNITY THAT WE LOVE.
ST. TERESA MINISTRIES HAS HAD A PRODUCTIVE SECOND YEAR WITH OUR TIME, TALENT, AND TREASURE. WE ARE BLESSED TO BE ABLE TO HAVE HELPED MANY INDIVIDUALS AND FAMILIES DURING THIS PAST PANDEMIC YEAR. WE CONTINUE TO OPERATE THE ST. TERESA'S THRIFT STORE IN BOWLING GREEN, KENTUCKY, THAT HELPS PRODUCE FUNDS TO SUPPORT OUR MISSION AND VISION. OUR VISION IS TO SERVE THOSE IN NEED IN OUR COMMUNITY. OUR MISSION IS TO PROVIDE FOOD, BASIC NECESSITIES, AND EMERGENCY SERVICES FOR LOW INCOME EARNERS AND THE ELDERLY BY USING THRIFT STORE ASSETS AND BY DEVELOPING AND ENHANCING COMMUNITY PARTNERSHIPS. WE CONTINUE TO SUPPORT THE ST. JOSEPH SVDP FOOD PANTRY AND THE HOLY SPIRIT SVD FOOD PANTRY WHO ALSO HELP WITH UTILITY BILLS AND EMERGENCIES. WE CONTINUE TO SUPPORT OTHER COMMUNITY EFFORTS AND PROJECTS. OUR GOAL IS TO GROW OUR OUTREACH, COLLABORATE WITH COMMUNITY PARTNERS, AND TO BE ABLE TO BETTER SERVE THOSE WHO NEED US THE MOST INCLUDING THE LOW INCOME EARNERS AND THE ELDERLY. WE HAVE FOCUSED ON OUR EMPLOYEES DURING 2021 BY SUPPORTING THEM MORE FINANCIALLY THROUGH COVID, SHUTDOWNS, THE TORNADO AND RAISING THEIR SALARIES DUE TO THE INCREASE COST OF LIVING. DURING 2022 WE PLAN TO WORK WITH THE GOOD SAMARITAN MINISTRY AND THE WORK THEY ARE DOING IN OUR COMMUNITY THAT SUPPORTS OUR MISSION. DURING 2021, WE HAD 19,350 IN-KIND DONATIONS, WHICH IS UP FROM THE 16,479 DURING 2020. IN MONETARY DONATIONS WE HAD 230.00 BASED ON THE P&L. WE FIND THAT DURING DIFFICULT TIMES, OUR COMMUNITY'S HEARTS ARE SOFTENED FOR THOSE IN NEED. WE APPRECIATE EACH DONATION AND KNOW THAT IT GOES TO SERVE OUR VISION FOR THIS COMMUNITY THAT WE LOVE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Owen Herndon President | OfficerTrustee | 1 | $0 |
Cathy Beard Vice Preside | OfficerTrustee | 1 | $0 |
Elaine Mason Secretary | OfficerTrustee | 1 | $0 |
Priscilla Schwartz Treasurer | OfficerTrustee | 1 | $0 |
John Riley Director | Trustee | 1 | $0 |
John Bryce Director | Trustee | 1 | $0 |
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 | $6,199 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $6,199 |
Total Program Service Revenue | $0 |
Investment income | $8,792 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $1,154,972 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,169,963 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $179,107 |
Grants and other assistance to domestic individuals. | $12,645 |
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 | $344,068 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $12,593 |
Payroll taxes | $29,803 |
Fees for services: Management | $0 |
Fees for services: Legal | $5,185 |
Fees for services: Accounting | $3,106 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $6,708 |
Advertising and promotion | $636 |
Office expenses | $2,802 |
Information technology | $2,369 |
Royalties | $0 |
Occupancy | $120,275 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,666 |
Interest | $46 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,500 |
Insurance | $0 |
All other expenses | $2,545 |
Total functional expenses | $748,345 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,069,017 |
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 | $34,124 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $300,000 |
Other assets | $7,861 |
Total assets | $1,411,002 |
Accounts payable and accrued expenses | $5,294 |
Grants payable | $0 |
Deferred revenue | $63 |
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 | $573 |
Total liabilities | $5,930 |
Net assets without donor restrictions | $1,405,072 |
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 | $1,411,002 |
Over the last fiscal year, St Teresa Ministries Inc has awarded $179,107 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
ST JOSEPH SVDP FOOD PANTRY PURPOSE: UTILITY EX./FOOD/ER | $49,400 |
HOLY SPIRIT SVD FOOD PANTRY PURPOSE: UTILITY EX./FOOD/ER | $29,707 |
HABITAT FOR HUMANITY PURPOSE: SUPPORT BG PROGRAM | $80,000 |
THE FAMILY ENRICHMENT CENTER PURPOSE: SUPPORT LOW INC FAM | $20,000 |