Life Way World Mission Inc
- Assets
- $23.7k
- Revenue
- $103.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Commerce, CA
- Founding
- 03/1998
- Data as of
- 03/2022
- EIN
- 95-4432541
Organization Overview
Life Way World Mission Inc is located in Commerce, CA. The organization was established in 1998. According to its NTEE Classification (X20) the organization is classified as: Christianity, 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. Life Way World Mission 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 03/2022, Life Way World Mission Inc generated $103.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $115.2k during the year ending 03/2022. 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
PART III. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS 1.THE ORGANIZATION'S MISSION A). PUBLISHED MONTHLY NEWSLETTERS, "THE LIFE WAY GOSPEL NEWS," FOR PROPAGATION OF CHRISTIANITY (MISSION WORK). B). DISTRIBUTED NEWSLETTERS TO CHURCHES, MISSION ORGANIZATIONS, AND INDIVIDUAL VOLUNTEERS TO DISTRIBUTE TO MARKETS AND FREE NEWSSTANDS IN THE FOLLOWING LOCATIONS: 50%: CALIFORNIA 45%: OTHER STATES IN USA 5%: OVERSEAS (KOREA, RUSSIA, SOUTH AFRICA, CANADA, & GUATEMALA) C). VISITED HOMELESS PEOPLE ON THE STREETS (REGULARLY) AND JAILS IN THE LOS ANGELES AREA (7 TIMES IN 2010) TO PROSELYTIZE TO INMATES AND COMFORT THE UNDERPRIVILEGED. D). HELD PRAYER SESSIONS FOR VOLUNTEERS AND SUPPORTERS IN THE LOS ANGELES AREA. E). PREPARED 700,000 COPIES OF EVANGELICAL FLYERS WRITTEN IN ENGLISH AND SPANISH, DISTRIBUTED BY VOLUNTEERS WHO EVANGELIZED TO PEOPLE, WITH AN EMPHASIS ON DOWNTOWN LOS ANGELES. 4A. EXPENSE DETAILS FOR "THE LIFE WAY GOSPEL NEWS" NEWSLETTERS AND EVANGELICAL FLYERS: PRINTING 12,364 SHIPPING 3,
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAST YEAR, THE ORGANIZATION ISSUED AND DISTRIBUTED OVER 10,000 COPIES OF THEIR MONTHLY NEWSLETTER "THE LIFE WAY GOSPEL NEWS" FREE OF CHARGE TO OVER 6 COUNTRIES WORLDWIDE INCLUDING RUSSIA, SOUTH AFRICA, CANADA, KOREA, GUATEMALA, AND U.S.A.
THE ORGANIZATION HAS SUPPORTED MISSIONARIES ALL OVER THE WORLD BY PROVIDING EDUCATION AND FINANCIAL SUPPORT.
NOT APPLICABLE
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young K Kim President | Officer | $0 | |
Simon S Kim Secretary | Officer | $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 | $103,167 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,167 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $103,167 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,690 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,600 |
| Interest | $0 |
| Payments to affiliates | $29,600 |
| Depreciation, depletion, and amortization | $284 |
| Insurance | $0 |
| All other expenses | $376 |
| Total functional expenses | $115,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,656 |
| 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 | $1,091 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,747 |
| 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 | $58 |
| Total liabilities | $58 |
| Net assets without donor restrictions | $23,689 |
| 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 | $23,747 |
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