Rhema Foundation Inc
- Assets
- $2.5m
- Revenue
- $61.2k
- Investments
- $1.5m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2015
- Data as of
- 12/2022
- EIN
- 47-2571447
Organization Overview
Rhema Foundation Inc is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhema Foundation 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 12/2022, Rhema Foundation Inc generated $61.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (41.0%) each year. All expenses for the organization totaled $79.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Rhema Foundation Inc has awarded 19 individual grants totaling $2,567,397. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GATHERING SPACES FOR RELIGIOUS 501(C)(3) ORGANIZATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Kim Director | 2 | $0 | |
Hye Kyung So Director | 0 | $0 | |
Dave Blanchard Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10,745 |
| Dividends & Interest | $14,442 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $36,000 |
| Total Revenue | $61,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,499 |
| Depreciation | $20,137 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $29,429 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $79,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,094 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,332,807 |
| Net Land, buildings, and equipment | $981,263 |
| Other assets | $1,460 |
| Total assets | $2,523,505 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $31,146 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $31,146 |
Grants Awarded
Over the last fiscal year, Rhema Foundation Inc has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ORDER OF COMMON LIFE PURPOSE: RELIGIOUS | $30,000 |
TGC UPPER WEST SIDE PURPOSE: RELIGIOUS | $20,000 |