Ministry Seven
- Assets
- $7.4m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 26
- Location
- Hendersonville, NC
- Founding
- 07/1983
- Data as of
- 06/2024
- EIN
- 58-1480173
Organization Overview
Ministry Seven is located in Hendersonville, NC. The organization was established in 1983. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 06/2024, Ministry Seven employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ministry Seven 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 06/2024, Ministry Seven generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $1.3m during the year ending 06/2024. While expenses have increased by 4.7% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
NON-DENOMINATIONAL CHRISTIAN MISSION TO ASSIST THOSE IN NEED OF SHELTER, FOOD AND CLOTHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-DENOMINATIONAL CHRISTIAN MISSION TO ASSIST THOSE IN NEED OF SHELTER, FOOD AND CLOTHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Lampley Chairman | OfficerTrustee | 10 | $0 |
Mark Kushigian Vice-Chairma | OfficerTrustee | 5 | $0 |
Christy Swift Treasurer | OfficerTrustee | 5 | $0 |
Bart Mckinney Secretary | OfficerTrustee | 2 | $0 |
Paul Durham Member | Trustee | 2 | $0 |
Kit Garren Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,410 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,820,640 |
| Noncash contributions included in lines 1a–1f | $14,524 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,822,050 |
| Total Program Service Revenue | $0 |
| Investment income | $123,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $169,738 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,120,092 |
| 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. | $181,121 |
| Compensation of current officers, directors, key employees. | $9,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $432,322 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,510 |
| Payroll taxes | $43,248 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,197 |
| Fees for services: Other | $8,302 |
| Advertising and promotion | $38,269 |
| Office expenses | $11,237 |
| Information technology | $12,950 |
| Royalties | $0 |
| Occupancy | $71,533 |
| Travel | $6,205 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,813 |
| Interest | $31,280 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $136,924 |
| Insurance | $20,599 |
| All other expenses | $71,580 |
| Total functional expenses | $1,301,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,200 |
| Savings and temporary cash investments | $1,007,521 |
| Pledges and grants receivable | $157,500 |
| Accounts receivable, net | $7,784 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,519,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,321,788 |
| Total assets | $7,410,216 |
| Accounts payable and accrued expenses | $16,799 |
| 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 | $615,995 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $632,794 |
| Net assets without donor restrictions | $6,561,992 |
| Net assets with donor restrictions | $215,430 |
| 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 | $7,410,216 |