BrightStone, Inc.
Fiscal Year
Fiscal Year Start
01/01/2025
Fiscal Year End
12/31/2025
Projected Revenue
$3,636,000.00
Projected Expenses
$3,546,000.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| brightstone, inc. irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Revenue | $3,908,640.00 | $6,326,329.00 | |
| Total Expenses | $2,820,668.00 | $1,826,047.00 | |
| Revenue Less Expenses | ($-0.00) | $1,087,972.00 | $4,500,282.00 |
Revenue Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $0.00 | $0.00 | |
| Contributions, Gifts, and Grants | $2,804,594.00 | $3,465,921.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $497,342.00 | $2,244,873.00 | |
| Investment Income, Net of Losses | $8,647.00 | $11,995.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $464,268.00 | $309,346.00 | |
| Revenue In-Kind | $29,356.00 | $134,777.00 | |
| Other | $104,433.00 | $159,417.00 |
Expense Allocation
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Program Expense | $1,928,539.00 | $1,235,186.00 | |
| Administration Expense | $276,585.00 | $169,328.00 | |
| Fundraising Expense | $615,544.00 | $421,533.00 | |
| Total Revenue/Total Expenses | 139% | 346% | |
| Program Expense/Total Expenses | 68% | 68% | |
| Fundraising Expense/Contributed Revenue | 22% | 23% |
Top Funding Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $2,804,594.00 | Contributions, Gifts, and Grants $3,465,921.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Program Revenue $497,342.00 | Program Revenue $2,244,873.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Fundraising Events $464,268.00 | Fundraising Events $309,346.00 |
Assets and Liabilities
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $27,075,358.00 | $17,022,815.00 | |
| Current Assets | $1,799,735.00 | $1,614,114.00 | |
| Long-Term Liabilities | $6,312,539.00 | $760,278.00 | |
| Current Liabilities | $0.00 | $0.00 | |
| Total Net Assets | $20,762,819.00 | $16,262,537.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Yes
Do you anticipate a campaign in the next 5 years?
Yes
What is the campaign goal?
$4,000,000.00
What is the purpose of the capital campaign?
To build more homes and other planned and approved facilities.
Campaign Start
November 2024
Campaign End
December 2026
Campaign Raised to Date Month
March
Campaign Raised to Date Year
2025
Campaign Raised to Date Amount
$2,200,000.00
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2025
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| BrightStone's Homecoming Capital Campaign launched November 2024 with a goal of raising $4,000,000 to fund more homes and other approved facilities. To learn more, please visit https://brightstone.org/capital-campaign/. You can also contact our Chief of Staff for more information, or to schedule a tour or meeting. Randy.Elliott@brightstone.org 615-491-0096 cell 615-790-4888 office |
Foundation Staff Comments
| Financial figures taken from the Audit. Audit was prepared by Blankenship CPA Group, PLLC. Comments provided by Hayley Sulfridge 8/18/24. |
