Larry Thompson Ministries Inc
- Assets
- $463.6k
- Revenue
- $159.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Hollywood, FL
- Founding
- 03/2017
- Data as of
- 12/2021
- EIN
- 47-2106209
Organization Overview
Larry Thompson Ministries Inc, operating under the name Faith Foundry, is located in Hollywood, FL. The organization was established in 2017. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Faith Foundry employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Foundry 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, Faith Foundry generated $159.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $168.4k during the year ending 12/2021. 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
PREACH THE GOSPEL OF JESUS CHRIST
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021 THIS ORGANIZATION LARRY THOMPSON MINISTRIES, INC. AKA FAITH FOUNDRY MENTORED THREE (3) EARLY-CAREER PASTORS IN THE UNITED STATES. THE MENTORSHIP INCLUDED COACHING CALLS AND WEBINARS. THE ANNUAL TRIPS TO NICARAGUA AND ISRAEL WERE CURTAILED DUE TO THE COVID EPIDEMIC. FAITH FOUNDRY SPOKE IN CHURCHES AND LOCAL BIBLE STUDY GROUPS DURING THE YEAR ON BEHALF OF THE ORGANIZATION. ALSO, PROVIDED LEADERSHIP IN WEDDINGS, FUNERALS AND COUNSELING OF FAMILIES IN SPIRITUAL NEED. SUPPORT & COUNSEL WAS PROVIDED TO PASTORS FROM PAST YEARS OF THE MENTORSHIP, DEALING WITH CONSEQUENCES OF COVID ON CHURCHES LEADERSHIP. PRAYED FOR AND ENCOURAGED MISSIONARIES AS AN EXTENDED SUPPORT.
FINANCIAL SUPPORT TO MISSIONS AND 501 (C)(3) ORGANIZATIONS TO ASSIST THEM WITH THEIR ESTABLISHED PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia S Thompson Associate Executive Director | OfficerTrustee | 0 | $54,167 |
Larry Thompson Ceoexecutive Dirctor | OfficerTrustee | 40 | $45,940 |
Belinda Lawrence Treasurer | OfficerTrustee | 2 | $0 |
Jim Bennett President | OfficerTrustee | 0 | $0 |
Ami T Royle Secretary | OfficerTrustee | 0 | $0 |
Vaughn Drinkard Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,203 |
| Noncash contributions included in lines 1a–1f | $20,400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,903 |
| Total Program Service Revenue | $0 |
| 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 | $159,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $111 |
| 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. | $123,867 |
| Compensation of current officers, directors, key employees. | $12,387 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $411 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $398 |
| Advertising and promotion | $280 |
| Office expenses | $3,318 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $873 |
| Travel | $5,809 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $343 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,991 |
| Insurance | $829 |
| All other expenses | $4,944 |
| Total functional expenses | $168,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $420,551 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,557 |
| 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 | $40,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $463,646 |
| Accounts payable and accrued expenses | $19,307 |
| 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 | $19,307 |
| 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 | $444,339 |
| Total liabilities and net assets/fund balances | $463,646 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Larry Thompson Ministries Inc has recieved totaling $21,547.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $21,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $47 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cross International Inc Pompano Beach, FL | $1,626,437 | $52,631,066 |
Ligonier Ministries Inc Sanford, FL | $54,142,799 | $25,858,613 |
Ravi Zacharias International Ministries Norcross, GA | $12,439,416 | $25,742,588 |
Inspiritus Inc Atlanta, GA | $4,563,820 | $17,981,504 |
Lifeshape Inc Atlanta, GA | $41,056,311 | $15,846,732 |
Haggai International Institute For Advanced Leadership Training Inc Peachtree Corners, GA | $41,354,774 | $16,620,781 |
Insideout Community Ministries Inc Clearwater, FL | $52,422,753 | $11,970,498 |
Elam Ministries Inc Alpharetta, GA | $5,679,728 | $12,042,641 |
Paramount Church Inc Palm Beach, FL | $0 | $8,970,572 |
Allegany Franciscan Ministries Inc Palm Harbor, FL | $132,053,877 | $12,610,220 |
Christian Sharing Center Inc Longwood, FL | $4,167,594 | $10,357,110 |
Maimonides-Shalom Academy Inc Fort Lauderdale, FL | $17,956,185 | $11,187,159 |