Baptist Church Loan Corporation
- Assets
- $159.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 12
- Location
- Dallas, TX
- Founding
- 03/1959
- Data as of
- 06/2021
- EIN
- 75-1439170
Organization Overview
Baptist Church Loan Corporation is located in Dallas, TX. The organization was established in 1959. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2021, Baptist Church Loan Corporation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baptist Church Loan Corporation 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 06/2021, Baptist Church Loan Corporation generated $6.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $4.1m during the year ending 06/2021. While expenses have increased by 4.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST CHURCHES IN THEIR EFFORTS TO SPREAD THE GOSPEL BY PROVIDING AFFORDABLE REAL ESTATE LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISH NEW CONGREGATIONS AND STRENGTHEN EXISTING ONES BY PROVIDING AND SERVICING LOANS FOR LAND PURCHASE, CONSTRUCTION, IMPORVING CURRENT FACILITIES, OR PUCHASING A NEW FACILITY FOR WORSHIP/RELIGIOUS INSTRUCTION. 459 LOANS OUTSTANDING AS OF YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald R James Jr President/ceo | Officer | 40 | $268,198 |
Bob Gage Senior Vice President | Officer | 40 | $187,106 |
Landon Yeager Svp/finance & Administrati | Officer | 40 | $172,992 |
Chris Emery Vice President | Officer | 40 | $138,108 |
Marissa Kane Secretary | Officer | 20 | $65,147 |
Russell Shelton Vice Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prosperity Bank Note Payments | 6/29/21 | $19,293,569 |
Douglas Center - Hp Lp Rent And Construction | 6/29/21 | $161,697 |
Amegy Bank Note Payments | 6/29/21 | $11,389,113 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,671,810 |
| Investment income | $27,637 |
| 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 | $6,699,447 |
| 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. | $938,112 |
| Compensation of current officers, directors, key employees. | $167,038 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $374,721 |
| Pension plan accruals and contributions | $63,667 |
| Other employee benefits | $35,983 |
| Payroll taxes | $73,363 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,913 |
| 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 | $119,977 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,648 |
| Travel | $20,033 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,397 |
| Interest | $1,957,616 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,834 |
| Insurance | $51,541 |
| All other expenses | $0 |
| Total functional expenses | $4,052,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,686,654 |
| Savings and temporary cash investments | $148,467 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $358,089 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $140,126,846 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $80,170 |
| Net Land, buildings, and equipment | $148,367 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,120,559 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $159,669,152 |
| Accounts payable and accrued expenses | $387,892 |
| 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 | $44,623,218 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $45,011,110 |
| Net assets without donor restrictions | $114,658,042 |
| 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 | $159,669,152 |
Endowment Analysis
| Beg. Balance | $60,174 |
| Earnings | $614 |
| Ending Balance | $60,788 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Church Loan Corporation Dallas, TX | $159,669,152 | $6,699,447 |
Presbyterian Communities And Services Dallas, TX | $18,546,633 | $4,334,623 |
Legacy Of Yogi Bhajan Foundation Santa Cruz, NM | $17,787,649 | $1,568,900 |
The Ruth Foundation Dallas, TX | $4,489,320 | $233,856 |
Ria Charitable Investments Inc Dallas, TX | $87,787,681 | $1,614,739 |
Noah Arc Community Development Corporation Inc Minden, LA | $7,905,393 | $1,130,663 |
Anglican Communion Compass Rose Society Inc Houston, TX | $134,399 | $941,707 |
Global Evangelical Team Inc Huntsville, TX | $1,173,041 | $1,080,905 |
National Christian Charitable Foundation Inc Houston, TX | $829,974 | $998,297 |
The Thanks-Giving Foundation Dallas, TX | $2,754,536 | $764,224 |
Baptist Missionary Loan Association Waxahachie, TX | $19,801,107 | $710,852 |
Christian Heritage Foundation Inc Cleburne, TX | $1,336,414 | $294,253 |