Eternal Life Inc
- Assets
- $6.0m
- Revenue
- $686.6k
- Investments
- $5.6m
- Employees
- 0
- Location
- Bardstown, KY
- Founding
- 11/1989
- Data as of
- 12/2023
- EIN
- 61-1164067
Organization Overview
Eternal Life Inc is located in Bardstown, KY. The organization was established in 1989. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, 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. Eternal Life 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 12/2023, Eternal Life Inc generated $686.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $329.4k during the year ending 12/2023. While expenses have increased by 5.3% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION DISTRIBUTES CATHOLIC LITERATURE AND AUDIO RECORDINGS IN ACCORDANCE WITH ITS EDUCATIONAL AND RELIGIOUS MISSION. THE ORGANIZATION ALSO CONDUCTS RELIGIOUS CONFERENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF MATERIALS FOR EDUCATION ABOUT FAITH.
GRANTS TO ENCOURAGE AND FACILITATE 501(C)(3) ORGANIZATIONS AND PRIESTS IN THEIR EFFORTS TO TEACH AND PROMOTE THE ROMAN CATHOLIC FAITH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Spalding Dir/vp | OfficerTrustee | 1 | $0 |
Martha Spalding Dir/sec/treas | OfficerTrustee | 1 | $0 |
Thomas P Monaghan Member Of Board | Trustee | 4 | $0 |
Jared Spalding Treasurer | OfficerTrustee | 10 | $12,000 |
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 | $90,698 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,698 |
| Total Program Service Revenue | $0 |
| Investment income | $82,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,400 |
| Net Gain/Loss on Asset Sales | $431,812 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $72,820 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $686,615 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $111,362 |
| Grants and other assistance to domestic individuals. | $25,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,000 |
| Fees for services: Accounting | $290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,845 |
| Office expenses | $40,251 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,791 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $34 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,435 |
| Insurance | $6,608 |
| All other expenses | $1,358 |
| Total functional expenses | $329,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,182 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,110 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,912 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $171,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,600,483 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,040,456 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $6,040,456 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,040,456 |
Grants Awarded
Over the last fiscal year, Eternal Life Inc has awarded $107,030 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOLY ANGELS ACADEMY PURPOSE: SUPPORT ORTHODOX ROMAN CATHOLIC CAUSES AND PROGRAMS | $50,000 |
REAL PRESENCE EE & AA PURPOSE: SUPPORT ORTHODOX ROMAN CATHOLIC CAUSES AND PROGRAMS | $51,030 |
SHRINE OF OUR LADY OF GUADELUPE PURPOSE: SUPPORT ORTHODOX ROMAN CATHOLIC CAUSES AND PROGRAMS | $6,000 |