Inheritance Adoptions
- Assets
- $496.0k
- Revenue
- $308.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Wichita Falls, TX
- Founding
- 11/1992
- Data as of
- 09/2023
- EIN
- 75-2433316
Organization Overview
Inheritance Adoptions is located in Wichita Falls, TX. The organization was established in 1992. According to its NTEE Classification (I72) the organization is classified as: Child Abuse Prevention, under the broad grouping of Crime & Legal-Related and related organizations. As of 09/2023, Inheritance Adoptions employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inheritance Adoptions 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 09/2023, Inheritance Adoptions generated $308.1k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $247.4k during the year ending 09/2023. While expenses have increased by 1.1% per year over the past 4 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
PROVIDES AN ALTERNATIVE TO ABORTION BY PLACING CHILDREN IN SAFE, STABLE AND LOVING ADOPTIVE HOMES. THEY PROVIDE 24 HOUR CALL SERVICES AND COUNSELING TO WOMEN REGARDING PREGNANCY, PRENATAL CARE, AND PARENTING, PROVIDE SERVICES TO MOTHERS WHO WISH TO RAISE THEIR BABIES AND CONNECTS THEM WITH OTHER COMMUNITY AGENCIES, AND PROMOTES ADOPTION AWARENESS AND EDUCATION THROUGH EDUCATIONAL PROGRAMS AND ADVERTISING CAMPAIGNS IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES COUNSELING AND SUPPORT TO PREGNANT WOMEN AND PARENTS TO ASSIST IN MAKING THE BEST DECISIONS FOR THEIR CHILDREN. THE ORGANIZATION ASSISTS WITH MEDICAL COSTS, TRANSPORTATION, FOOD, TOILETRIES, CHILD CARE ITEMS AND LIVING EXPENSES. FOR BIRTH PARENTS WHO CHOOSE ADOPTION THE ORGANIZATION PLACES CHILDREN IN SAFE, STABLE AND LOVING ADOPTIVE HOMES. THE ORGANIZATION RECEIVES ADOPTION FEES FROM ADOPTIVE PARENTS INCLUDING APPLICATION FEES, HOME STUDY FEES, AND PLACEMENT FEES. FOR BIRTH PARENTS WHO CHOOSE TO RAISE THEIR CHILDREN, THE ORGANIZATION PROVIDES THEM WITH COUNSELING AND CONNECTS THEM WITH COMMUNITY RESOURCES. THE ORGANIZATION IS A PROVIDER THROUGH THE TEXAS PREGNANCY CARE NETWORK. FOR THE TAX YEAR ENDING SEPTEMBER 30, 2023 THE ORGANIZATION WORKED 100 PARENTS.
THE ORGANIZATION CONDUCTS EDUCATIONAL AWARENESS PROGRAMS TO PROMOTE ADOPTION AWARENESS AND TO EDUCATE PARENTS REGARDING THEIR OPTIONS. THIS INCLUDES EDUCATIONAL PROGRAMS FOR PARENTS, PRESENTATIONS TO COMMUNITY GROUPS, AND ADVERTISING CAMPAIGNS TO PUBLICIZE THE OPTION AND BENEFITS OF ADOPTION TO THE GENERAL PUBLIC. COSTS INCLUDE MATERIALS THAT THE ORGANIZATION DISTRIBUTES AS WELL AS COSTS ASSOCIATED WITH ADVERTISING CAMPAIGNS INCLUDING BILLBOARDS, PUBLICATIONS, AND SOCIAL MEDIA ADVERTISING COSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Clark President | OfficerTrustee | 1 | $0 |
Teri Carnes Vice-President | OfficerTrustee | 1 | $0 |
Miranda Harvey Treasurer | OfficerTrustee | 1 | $0 |
Carrie Taylor Secretary | OfficerTrustee | 1 | $0 |
Amanda Hansen Director | Trustee | 1 | $0 |
Steve Cookingham Director | Trustee | 1 | $0 |
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 | $193,512 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $193,512 |
| Total Program Service Revenue | $32,150 |
| Investment income | $7,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75,117 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $308,098 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $31,222 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $73,926 |
| Compensation of current officers, directors, key employees. | $25,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,272 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,014 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,461 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $23,805 |
| Office expenses | $274 |
| Information technology | $5,915 |
| Royalties | $0 |
| Occupancy | $11,950 |
| Travel | $1,520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,879 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,580 |
| Insurance | $6,218 |
| All other expenses | $364 |
| Total functional expenses | $247,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,690 |
| Savings and temporary cash investments | $303,279 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,886 |
| 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 | $9,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $496,016 |
| Accounts payable and accrued expenses | $3,340 |
| 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 | $3,340 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $61,563 |
| Total liabilities and net assets/fund balances | $496,016 |