Tennessee Baptist Adult Homes, Inc
Fiscal Year
Fiscal Year Start
11/01/2023
Fiscal Year End
10/31/2024
Projected Revenue
$1,969,979.00
Projected Expenses
$2,360,702.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| tennessee baptist adult homes, inc. irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $1,930,930.00 | $1,800,894.00 | $1,963,064.00 |
| Total Expenses | $2,428,649.00 | $2,172,472.00 | $2,124,020.00 |
| Revenue Less Expenses | ($497,719.00) | ($371,578.00) | ($160,956.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $463,746.00 | $492,650.00 | $487,981.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $1,025,740.00 | $887,064.00 | $869,257.00 |
| Investment Income, Net of Losses | $60,420.00 | $46,780.00 | $30,516.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $381,024.00 | $322,426.00 | $575,310.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $1,958,168.00 | $1,734,146.00 | $1,665,435.00 |
| Administration Expense | $470,481.00 | $438,326.00 | $458,585.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 80% | 83% | 92% |
| Program Expense/Total Expenses | 81% | 80% | 78% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $1,025,740.00 | Program Revenue $887,064.00 | Program Revenue $869,257.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $463,746.00 | Contributions, Gifts, and Grants $492,650.00 | Other Revenue $575,310.00 |
| Third Highest Funding Source & Dollar Amount | Other Revenue $381,024.00 | Other Revenue $322,426.00 | Contributions, Gifts, Grants $487,981.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $4,533,762.00 | $5,500,561.00 | $6,370,493.00 |
| Current Assets | $968,155.00 | $705,246.00 | $1,577,469.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $724,183.00 | $786,122.00 | $716,569.00 |
| Total Net Assets | $3,809,579.00 | $4,714,439.00 | $5,653,924.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$1,688,217.00
What is the spending policy for your endowment?
Income Only
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
April
Permit Expiration Year
2025
Solicitations Permit
Form 990s
Audit Documents
Foundation Staff Comments
| **TN Baptist Adult Homes operates facilities across the state. The Income and Expense projections are for statewide operations. Financial figures are taken from 990. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financials prepared by Crosslin, PLLC. Comments provided by Hayley Sulfridge 6/5/24. |
