People Of Praise Minn Inc
- Assets
- $18.6m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 23
- Location
- Eagan, MN
- Founding
- 08/1973
- Data as of
- 06/2021
- EIN
- 41-1111724
Organization Overview
People Of Praise Minn Inc is located in Eagan, MN. The organization was established in 1973. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2021, People Of Praise Minn Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. People Of Praise Minn 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 06/2021, People Of Praise Minn Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 6 years. 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
RELIGIOUS COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL FUND PROVIDES FOR PASTORAL CARE OF MEMBERS, INCLUDING PRAYER MEETINGS, TEACHING CONFERENCES, PASTORAL MEETINGS AND RETREATS.
MINISTRY FUND IS USED TO PROMOTE SPECIFIC PURPOSES INCLUDING: YOUTH PROGRAMS, MUSIC, EVANGELISM AND MISSIONARY OUTREACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Caneff President | Trustee | 40 | $81,600 |
Harold Coulter Jr Secretary And Business Manager | Trustee | 20 | $21,474 |
Patrick Murphy Treasurer | Trustee | 10 | $5,820 |
Edward Mertz Coordinator | Trustee | 3 | $0 |
John Stauble Coordinator | Trustee | 3 | $0 |
Gerald Rynda Coordinator | Trustee | 3 | $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 | $859,321 |
| Noncash contributions included in lines 1a–1f | $57,320 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $859,321 |
| Total Program Service Revenue | $639,469 |
| Investment income | $78,089 |
| 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 | $1,576,879 |
| 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 | $408,624 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,413 |
| Payroll taxes | $31,217 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,547 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,662 |
| Travel | $1,145 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,005 |
| Interest | $0 |
| Payments to affiliates | $72,967 |
| Depreciation, depletion, and amortization | $447,842 |
| Insurance | $44,574 |
| All other expenses | $0 |
| Total functional expenses | $1,718,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,171 |
| Savings and temporary cash investments | $325,157 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,512 |
| 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 | $6,271 |
| Net Land, buildings, and equipment | $14,287,465 |
| Investments—publicly traded securities | $3,703,400 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,561,976 |
| Accounts payable and accrued expenses | $177,105 |
| 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 | $177,105 |
| Net assets without donor restrictions | $16,601,604 |
| Net assets with donor restrictions | $1,783,267 |
| 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 | $18,561,976 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that People Of Praise Minn Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: NEW | $6,000 |
Endowment Analysis
| Beg. Balance | $2,698,050 |
| Earnings | $866,996 |
| Net Contributions | $233,288 |
| Other Expense | $94,934 |
| Ending Balance | $3,703,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Loaves And Fishes Too Minneapolis, MN | $3,481,660 | $16,298,899 |
Pulse Outreach Minneapolis, MN | $16,852,358 | $21,090,149 |
Desiring God Ministries Minneapolis, MN | $8,654,171 | $9,657,693 |
American Lutheran Church-Northland Luthern Services For The Elderly Marinette, WI | $6,079,717 | $8,121,825 |
Freedom From Religion Foundation Inc Madison, WI | $25,982,708 | $9,398,786 |
Praying Pelican Missions Minneapolis, MN | $539,673 | $5,474,608 |
Venture Burnsville, MN | $4,889,777 | $6,516,603 |
Evangelical Lutheran Good Samaritan Foundation Sioux Falls, SD | $102,471,128 | $9,259,464 |
Christian Worship Hour Aberdeen, SD | $3,374,479 | $4,060,903 |
Luther Memorial Home Madelia, MN | $3,423,486 | $4,600,698 |
Barnabas International Elkhorn, WI | $2,407,026 | $3,476,922 |
Fargo Union Mission Inc Fargo, ND | $6,248,468 | $4,299,626 |