Lifeway Foundation Inc
- Assets
- $3.4m
- Revenue
- $638.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Lott, TX
- Founding
- 07/2018
- Data as of
- 12/2023
- EIN
- 82-2415677
Organization Overview
Lifeway Foundation Inc is located in Lott, TX. The organization was established in 2018. According to its NTEE Classification (F12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Mental Health & Crisis Intervention and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifeway Foundation 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, Lifeway Foundation Inc generated $638.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $229.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Lifeway Foundation Inc has awarded 116 individual grants totaling $1,082,870. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ORDER TO ENSURE FUTURE INCOME, THE FOUNDATION PURCHASED NOTES RECEIVABLE, INCLUDING THE COLLATERAL (LAND), TO PROVIDE A GUARANTEED INCOME STREAM FOR CONTINUED SUPPORT OF THE MINISTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Griffith Director | 10 | $0 | |
Melinda Griffith Director | 10 | $0 | |
John Gary Frisby Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,022 |
| Interest on Savings | $2,452 |
| Dividends & Interest | $133,865 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,925 |
| Total Revenue | $638,264 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $179 |
| Depreciation | $47,105 |
| Occupancy | $26,226 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $77,435 |
| Contributions, gifts, grants paid | $152,050 |
| Total expenses and disbursements | $229,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $162,017 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $1,730,997 |
| Inventories for sale or use | $186,163 |
| Prepaid expenses and deferred charges | $2,740 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,338,665 |
| Other assets | $0 |
| Total assets | $3,420,582 |
| Accounts payable and accrued expenses | $660 |
| Grants payable | $0 |
| Deferred revenue | $92,734 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,879 |
| Total liabilities | $98,273 |
Grants Awarded
Over the last fiscal year, Lifeway Foundation Inc has awarded $152,050 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CARENET PURPOSE: SUPPORT WOMEN IN CRISIS PREGNANCIES | $15,000 |
GLOBAL BANJARA BAPTIST MINISTRIES PURPOSE: SUPPORT THE SPREAD OF THE WORD OF JESUS IN INDIA | $6,800 |
UTTERMOST INTERNATIONAL PURPOSE: EDUCATION CHILDREN, EMPOWER CHURCHES, IMPACT COMMUNITIES IN THIRD WORLD COUNTRIES | $10,000 |
CHRISTIAN WOMENS JOB CORP PURPOSE: PROMOTE FREE GED AND JOB TRAINING CLASSES TO WOMEN OF MCLENNAN CTY TO HELP TRANSFORM THEIR LIVES, THEIR FAMILIES, AND THEIR COMMUNITY | $1,000 |
DISCIPLESHIP UNLIMITED PURPOSE: SUPPORT THE SUCCESFUL REENTRY OF PRISONERS INTO SOCIETY | $5,000 |
COOPERATIVE BAPTIST FELLOWSHIP OF T PURPOSE: FINANCIALLY SUPPORT WORK TO SPREAD THE HOPE OF CHRIST | $10,000 |