Grace Evangelical Society Inc
- Assets
- $1.8m
- Revenue
- $1.2m
- Investments
- $1.0m
- Employees
- 7
- Location
- Corinth, TX
- Founding
- 05/1988
- Data as of
- 06/2024
- EIN
- 93-0937037
Organization Overview
Grace Evangelical Society Inc is located in Corinth, TX. The organization was established in 1988. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 06/2024, Grace Evangelical Society Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Evangelical Society 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 06/2024, Grace Evangelical Society Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $875.2k during the year ending 06/2024. While expenses have increased by 8.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROCLAIM AND PROMOTE THE FREE GIFT OF ETERNAL LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATIONS: MAGAZINE, JOURNAL, COMMENTARIES, BOOKS
ANNUAL CONFERENCE, REGIONAL CONFERENCES, SPEAKING ENGAGEMENTS,INTERNATIONAL TEACHING MINISTRY AT COLLEGES AND SEMINARIES, DAILYRADIO/PODCASTS, DAILY BLOGS, WEBSITE WITH FREE ARTICLES, YOUTUBECHANNEL: REACHES HUNDREDS OF ATTENDEES, AND SEVERAL THOUSAND MORETHAT PURCHASE RECORDINGS, AND ARE TAUGHT BY THOSE WHO ATTENDED ABOUTTHE TEACHINGS OF CHRIST
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Wilkin Executive Director | OfficerTrustee | 40 | $119,083 |
Brad Doskocil Chairman | OfficerTrustee | 0 | $0 |
Ken Yates Director | Trustee | 30 | $95,833 |
Bernie Hunsucker Secretary/treasurer | OfficerTrustee | 0 | $0 |
Tony Taffar Director | Trustee | 0 | $0 |
Letitia Lii Director | Trustee | 3 | $4,423 |
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 | $1,081,187 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,081,187 |
| Total Program Service Revenue | $113,149 |
| Investment income | $31,560 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,225,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,217 |
| Compensation of current officers, directors, key employees. | $12,146 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,195 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,667 |
| Payroll taxes | $25,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,848 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,305 |
| Advertising and promotion | $48 |
| Office expenses | $5,202 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,793 |
| Travel | $12 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $70,378 |
| Interest | $4 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,377 |
| All other expenses | $111,596 |
| Total functional expenses | $875,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,066 |
| Savings and temporary cash investments | $561,449 |
| 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 | $15,079 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,030,967 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,175 |
| Total assets | $1,758,736 |
| 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 | $11,567 |
| Total liabilities | $11,567 |
| Net assets without donor restrictions | $1,747,169 |
| 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 | $1,758,736 |