Foundation Of Praise Incorporated
- Assets
- $6.4m
- Revenue
- $739.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Escondido, CA
- Founding
- 03/1982
- Data as of
- 12/2021
- EIN
- 23-7448019
Organization Overview
Foundation Of Praise Incorporated is located in Escondido, CA. The organization was established in 1982. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Foundation Of Praise Incorporated employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Of Praise Incorporated 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 12/2021, Foundation Of Praise Incorporated generated $739.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $642.9k during the year ending 12/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES INSPIRATIONAL MATERIALS TO MINISTRIES,PRISONS,HOSPITALS,PREGNANCY CENTERS,& THE MILITARY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING INSPIRATIONAL MATERIALS TO MINISTRIES, PRISONS, HOSPITALS, PREGNANCY CENTERS AND THE MILITARY. RESPOND TO MANY CALLS AND OTHER CORRESPONDENCE REQUESTING PRAYER AND SUPPORT FROM INDIVIDUALS AND PRISON INMATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Thomas Treasurer | OfficerTrustee | 40 | $98,100 |
Bruce Carothers Secretary | OfficerTrustee | 5 | $0 |
Mary Carothers President | OfficerTrustee | 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 | $363,359 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,359 |
| Total Program Service Revenue | $98,567 |
| Investment income | $274,511 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,857 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$109 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $739,185 |
| 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. | $109,846 |
| Compensation of current officers, directors, key employees. | $32,953 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,117 |
| Payroll taxes | $14,034 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,477 |
| Fees for services: Other | $49,854 |
| Advertising and promotion | $0 |
| Office expenses | $20,983 |
| Information technology | $6,847 |
| Royalties | $0 |
| Occupancy | $24,437 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,246 |
| Insurance | $7,868 |
| All other expenses | $240 |
| Total functional expenses | $642,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,261 |
| 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 | $481,608 |
| Investments—publicly traded securities | $5,732,549 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,352,418 |
| 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 | $1,044 |
| Total liabilities | $1,044 |
| Net assets without donor restrictions | $0 |
| 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 | $6,351,374 |
| Total liabilities and net assets/fund balances | $6,352,418 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation Of Praise Incorporated has recieved totaling $456.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $456 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |