Nations Ministry Center
Fiscal Year
Fiscal Year Start
07/01/2024
Fiscal Year End
06/30/2025
Projected Revenue
$687,072.00
Projected Expenses
$687,072.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Nations Ministry Center IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Revenue | $842,065.00 | $1,550,068.00 | $831,975.00 |
| Total Expenses | $910,682.00 | $1,605,038.00 | $758,087.00 |
| Revenue Less Expenses | ($68,617.00) | ($54,970.00) | $73,888.00 |
Revenue Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| 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 | $249,993.00 | $958,239.00 | $109,450.00 |
| Contributions, Gifts, and Grants | $524,755.00 | $549,317.00 | $634,237.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $20,727.00 | $8,384.00 | $40,400.00 |
| Investment Income, Net of Losses | $23,520.00 | $5,584.00 | $1,482.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $5,638.00 | $0.00 | $5,573.00 |
| Revenue In-Kind | $15,310.00 | $26,610.00 | $39,083.00 |
| Other | $2,122.00 | $1,934.00 | $1,750.00 |
Expense Allocation
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Program Expense | $848,440.00 | $1,543,444.00 | $713,002.00 |
| Administration Expense | $34,425.00 | $33,753.00 | $24,322.00 |
| Fundraising Expense | $27,817.00 | $27,841.00 | $20,763.00 |
| Total Revenue/Total Expenses | 92% | 97% | 110% |
| Program Expense/Total Expenses | 93% | 96% | 94% |
| Fundraising Expense/Contributed Revenue | 3% | 2% | 3% |
Top Funding Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $524,755.00 | Government Grants $958,239.00 | Contributions, Gifts, and Grants $634,237.00 |
| Second Highest Funding Source & Dollar Amount | Government Grants $249,993.00 | Contributions, Gifts, and Grants $549,317.00 | Government Grants $109,450.00 |
| Third Highest Funding Source & Dollar Amount | Investment Income $23,520.00 | Noncash Contributions $26,610.00 | Program Revenue $40,400.00 |
Assets and Liabilities
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $974,338.00 | $1,078,749.00 | $1,076,092.00 |
| Current Assets | $572,307.00 | $620,065.00 | $686,849.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $23,978.00 | $59,772.00 | $2,145.00 |
| Total Net Assets | $950,360.00 | $1,018,977.00 | $1,073,947.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$5,000.00
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
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| We are actively developing a diverse funding stream through gifts from churches, an annual campaign supported by individual donors, a special event, foundations, churches, partnership with the Nashville After School Zone Alliance, the United Way, State of Tennessee, Metro Nashville Government grants. We also have created a reserve fund to handle the inevitable fluctuations in foundation and individual giving. In 2024, we started a small endowment held at the Community Foundation to prepare for our future. In our 990s, there is a operating year deficit because a large amount of funders had been invoiced but the payment had not been made by the close of our fiscal year. Those payments were received in the following fiscal year. |
Foundation Staff Comments
| Financial figures taken from the 990. 990 was prepared by Edmondson, Betzler & Dame, PLLC. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these totals are not separated in Form 990. In 2014, Nations Ministry Center switched to a July-June fiscal year. Comments provided by Hayley Sulfridge 11/5/24. |
