Purpose Institute Inc
- Assets
- $95.7k
- Revenue
- $859.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Canton, OH
- Founding
- 12/2005
- Data as of
- 07/2024
- EIN
- 04-3615764
Organization Overview
Purpose Institute Inc is located in Canton, OH. The organization was established in 2005. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 07/2024, Purpose Institute Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Purpose Institute 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 07/2024, Purpose Institute Inc generated $859.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $857.9k during the year ending 07/2024. While expenses have increased by 7.7% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TRAINING IN MINISTERIAL STUDIES AND LEADERSHIP PROVIDED TO PASTORS AND MINISTERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING IN MINISTERIAL STUDIES AND LEADERSHIP PROVIDED TO PASTORS AND MINISTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Finis Joe Ellis President | OfficerTrustee | 8 | $29,579 |
Steve Schobert Director Of Operations | OfficerTrustee | 4 | $11,200 |
Thomas Ellis Director Of Marketing | OfficerTrustee | 4 | $9,000 |
Dr James Littles Director Of Academics | OfficerTrustee | 4 | $13,200 |
Brian Michael Director Of Campuses | OfficerTrustee | 4 | $41,648 |
George Szabolcsi Executive Board | Trustee | 2 | $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 | $455,779 |
| Noncash contributions included in lines 1a–1f | $439,837 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $455,779 |
| Total Program Service Revenue | $403,751 |
| 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 | $859,530 |
| 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. | $121,305 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,443 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,500 |
| Payroll taxes | $2,788 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $30,694 |
| Office expenses | $5,282 |
| 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 | $17,898 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,385 |
| Insurance | $690 |
| All other expenses | $456,459 |
| Total functional expenses | $857,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,812 |
| 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 | $22,885 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $95,697 |
| Accounts payable and accrued expenses | $9,877 |
| 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 | $0 |
| Total liabilities | $9,877 |
| Net assets without donor restrictions | $85,820 |
| 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 | $95,697 |