Renewal Ministries Inc
- Assets
- $3.3m
- Revenue
- $2.6m
- Investments
- $1.3k
- Employees
- 32
- Location
- Ann Arbor, MI
- Founding
- 10/1992
- Data as of
- 12/2023
- EIN
- 38-2385975
Organization Overview
Renewal Ministries Inc is located in Ann Arbor, MI. The organization was established in 1992. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Renewal Ministries Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renewal Ministries 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 12/2023, Renewal Ministries Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE RELIGIOUS EDUCATION AND SPREAD THE TEACHINGS OF THE BIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE TELEVISION AND RADIO PROGRAMING.
VARIOUS PROGRAMS.
TO PROVIDE RELIGIOUS AND EDUCATION MATERIALS.
MISSION OUTREACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Martin President | OfficerTrustee | 40 | $137,888 |
Peter Herbeck Vice Pres | Officer | 40 | $126,392 |
Gerard Seromik Sec/treas | Officer | 40 | $101,280 |
Danielle Brown Director | Trustee | 2 | $0 |
Deacon Daniel R Foley Director/cha | Trustee | 2 | $0 |
Tim Holian Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $60,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,911,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,971,510 |
| Total Program Service Revenue | $557,084 |
| Investment income | $99,622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,883 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,667 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$13,386 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,626,956 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,123,328 |
| Pension plan accruals and contributions | $45,036 |
| Other employee benefits | $155,894 |
| Payroll taxes | $85,247 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,459 |
| Fees for services: Accounting | $18,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,518 |
| Advertising and promotion | $31,747 |
| Office expenses | $152,102 |
| Information technology | $94,457 |
| Royalties | $0 |
| Occupancy | $127,963 |
| Travel | $347,549 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $70,325 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,992 |
| Insurance | $0 |
| All other expenses | $113,695 |
| Total functional expenses | $2,780,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,004 |
| Savings and temporary cash investments | $2,416,806 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,604 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $45,329 |
| Prepaid expenses and deferred charges | $13,158 |
| Net Land, buildings, and equipment | $21,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,286 |
| Investments—program-related | $0 |
| Intangible assets | $109,207 |
| Other assets | $0 |
| Total assets | $3,277,380 |
| Accounts payable and accrued expenses | $25,137 |
| 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 | $204,769 |
| Total liabilities | $229,906 |
| Net assets without donor restrictions | $2,895,739 |
| Net assets with donor restrictions | $151,735 |
| 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 | $3,277,380 |