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 12/2021, St Teresa Ministries Inc employed 29 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 12/2021, St Teresa Ministries Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 31.5% each year . All expenses for the organization totaled $565.1k during the year ending 12/2021. While expenses have increased by 19.7% per year over the past 2 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
ST. TERESA MINISTRIES BEGAN OPERATING IN MAY 2020. ALTHOUGH IT HAS BEEN A VERY INTERESTING YEAR AMIDST THE COVID PANDEMIC, THE ORGANIZATION HAS BEEN ABLE TO CARRY OUT THE VISION TO SERVE THOSE IN NEED. AS DEMONSTRATED BY OUR FINANCIALS, THE PANDEMIC HAD A NEGATIVE IMPACT ON THE STORE ECONOMICALLY & OPERATIVELY; YET WE WERE ABLE TO CONTINUE TO SERVE OUR COMMUNITY IN A TIME OF NEED. WE CONTINUE TO FINANCIALLY SUPPORT BOTH OF THE SAINT VINCENT DEPAUL CONFERENCES (HOLY SPIRIT CATHOLIC CHURCH AND ST. JOSEPH CATHOLIC CHURCH) FOOD PANTRIES. BOTH FOOD PANTRIES SAW AN INCREASE IN THE NEED OF FOOD AND THE NUMBER OF PARTICIPANTS DURING 2021 AS DEMONSTRATED BY THEIR MONTHLY REPORTS. THE LACK OF EMPLOYMENT, SHUTDOWNS DUE TO COVID, TORNADO, AND THE HARDSHIPS FAMILIES FACED CONTRIBUTED TO THAT NEED. WE HOPE TO CONTINUE TO BE ABLE TO SUPPORT THEM AND THEIR MISSION TO FEED THOSE WHO ARE HUNGRY AND IN NEED. WE ALSO MADE A CONTRIBUTION TO THE BOWLING GREEN HOUSING AUTHORITY TO SUPPORT THE TORNADO RELIEF
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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 |
---|---|---|---|
Cathy Beard Vice Preside | OfficerTrustee | 1 | $0 |
Owen Herndon President | OfficerTrustee | 1 | $0 |
Priscilla Schwartz Treasurer | OfficerTrustee | 1 | $0 |
Zoann Flynn Director | Trustee | 1 | $0 |
John Bryce Director | Trustee | 1 | $0 |
Elaine Mason Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $10,200 |
All other contributions, gifts, grants, and similar amounts not included above | $692 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $10,892 |
Total Program Service Revenue | $0 |
Investment income | $1,207 |
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 | $1,022,414 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,034,513 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $66,600 |
Grants and other assistance to domestic individuals. | $1,509 |
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 | $297,646 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $12,580 |
Payroll taxes | $24,934 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,308 |
Fees for services: Accounting | $4,283 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,454 |
Advertising and promotion | $5,456 |
Office expenses | $4,303 |
Information technology | $2,385 |
Royalties | $0 |
Occupancy | $100,784 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,578 |
Interest | $18 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $7,875 |
Insurance | $11,931 |
All other expenses | $1,997 |
Total functional expenses | $565,069 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $652,981 |
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 | $44,624 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $300,350 |
Other assets | $0 |
Total assets | $997,955 |
Accounts payable and accrued expenses | $2,578 |
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 | $0 |
Total liabilities | $2,641 |
Net assets without donor restrictions | $995,314 |
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 | $997,955 |
Over the last fiscal year, St Teresa Ministries Inc has awarded $66,600 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
ST JOSEPH SVDP FOOD PANTRY PURPOSE: UTILITY EX./FOOD/ER | $46,800 |
HOLY SPIRIT SVD FOOD PANTRY PURPOSE: UTILITY EX./FOOD/ER | $19,800 |
Organization Name | Assets | Revenue |
---|---|---|
Memphis Goodwill Inc Memphis, TN | $14,007,332 | $45,591,658 |
Sharing Connections Inc Downers Grove, IL | $1,421,434 | $5,757,318 |
United States Of America Chess Federation St Louis, MO | $6,079,423 | $3,913,162 |
Ten Up Ministries Thrift Store Scott Depot, WV | $2,455,437 | $3,085,165 |
Lexington Rescue Mission Inc Lexington, KY | $3,687,691 | $2,773,150 |
Abilities Richmond Richmond, IN | $210,319 | $2,452,026 |
Society Of St Vincent De Paul Diocesan Council Of Lafayette Noblesville, IN | $1,377,536 | $1,591,122 |
Fort Wayne Society Of St Vincent Depaul Inc Fort Wayne, IN | $1,872,143 | $1,538,116 |
Thriftology Inc Fredericksburg, OH | $865,769 | $1,716,371 |
District Of Evansville Of The Society Of St Vincent De Paul Inc Evansville, IN | $3,528,362 | $1,814,462 |
St Vincent De Paul Charitable Enterprises Inc Dayton, OH | $1,036,487 | $913,920 |
Ditto Upscale Resale Warson Woods, MO | $516,704 | $1,429,635 |