Living Faith Ministries Inc
- Assets
- $15.1m
- Revenue
- $3.0m
- Investments
- $5.1m
- Employees
- 13
- Location
- Bristol, VA
- Founding
- 12/1988
- Data as of
- 12/2020
- EIN
- 54-1375229
Organization Overview
Living Faith Ministries Inc is located in Bristol, VA. The organization was established in 1988. According to its NTEE Classification (X82) the organization is classified as: Religious Television, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Living Faith Ministries Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Living Faith 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 12/2020, Living Faith Ministries Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $1.9m during the year ending 12/2020. While expenses have increased by 2.5% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RELIGIOUS AND EDUCATIONAL PROGRAMMING TO THE VIEWING AUDIENCE AND SUPPORTERS OF THE NETWORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. BROADCASTING THROUGH THE MEDIA OF TELEVISION, PROGRAMMING THAT PROMOTES THE GOSPEL OF JESUS CHRIST.2. PROGRAMMING TO PROMOTE BIBLICAL PRINCIPLES OF THE GOSPEL OF JESUS CHRIST TO HOSPITALS, JAILS AND PRISONS.3. BROADCASTING TO 1.8 MILLION HOMES WITH CHRISTIAN PROGRAMMING, INCLUDING MUSIC, EDUCATION AND TEACHING BIBLICAL PRINCIPLES.
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 |
|---|---|---|---|
Michael D Smith President/director | OfficerTrustee | 50 | $114,833 |
Lisa Smith V-P & Secretary/director | OfficerTrustee | 50 | $112,111 |
Alan Ward Director | Trustee | 1 | $0 |
Rev James Smith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $357,840 |
| Investment income | $60,793 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,998,597 |
| Statement of Expenses | |
|---|---|
| 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. | $215,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $325,095 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $38,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,032 |
| Fees for services: Accounting | $30,775 |
| 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 | $30,387 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,425 |
| 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 | $394,554 |
| Insurance | $200,202 |
| All other expenses | $0 |
| Total functional expenses | $1,933,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,394 |
| Savings and temporary cash investments | $2,577,955 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,525 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,834 |
| Prepaid expenses and deferred charges | $3,826 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,129,291 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $414,367 |
| Total assets | $15,068,859 |
| Accounts payable and accrued expenses | $7,325 |
| Grants payable | $0 |
| Deferred revenue | $66,019 |
| 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 | $113,900 |
| Total liabilities | $187,244 |
| 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 |
| Total liabilities and net assets/fund balances | $14,881,615 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Word Broadcasting Network Inc Louisville, KY | $8,903,414 | $3,811,676 |
Living Faith Ministries Inc Bristol, VA | $15,068,859 | $2,998,597 |
32 North Media Inc Chesapeake, VA | $1,341,963 | $1,226,574 |
Beyond The Walls Inc Martinsville, VA | $0 | $244,634 |
Promise Of Hope Ministries Chattanooga, TN | $632,009 | $122,229 |
Falls Church Public Cable Tv Access Corporation Falls Church, VA | $88,210 | $32,463 |
Living Faith Broadcasting Inc Bristol, VA | $1,191,631 | $500 |
Christian Worldview Broadcasting Corporation Memphis, TN | $1,381,415 | $8,262 |