Overview
What is Founders Ministries Inc?
Founders Ministries Inc, based in Cape Coral, Florida, is a nonprofit organization primarily focused on spreading the gospel of Jesus Christ. They achieve this through a ministry of teaching and encouragement, promoting both doctrine and devotion. Their key activities include the sale of religious publications on a subscription basis and direct sales of books, CDs, and DVDs. Additionally, they offer a weekly podcast to engage their audience further. The organization's mission is to proclaim the gospel of Jesus Christ, emphasizing the doctrines of grace and their practical application within local churches, particularly in areas of worship and witness. With a team of seven dedicated individuals, Founders Ministries Inc continues to serve and spread their faith-based message.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% (One-Star out of Four Stars)
Founders Ministries Inc holds a low rating of 52%, which reflects significant concerns regarding its accountability and financial transparency. With a one-star rating, it indicates that the organization struggles to meet the best practices typically expected of nonprofits in terms of governance and financial management. The accountability and finance score highlights areas needing improvement, particularly in board independence and the posting of financial statements.
The organization does demonstrate some strengths, particularly in its program expense ratio, which stands at approximately 81%. This suggests that a large majority of its expenses are directed towards its mission-related activities, indicating a commitment to its core programs. Additionally, the organization has a positive score for its liabilities to assets ratio, suggesting a stable financial situation in terms of asset management.
However, the absence of an independent board, along with missing policies for conflict of interest, whistleblowing, and document retention, raises red flags regarding governance practices. The lack of transparency in financial reporting, such as not posting tax forms on its website, further contributes to the concerns about accountability. Overall, while Founders Ministries appears to prioritize its programs, it must address significant governance and transparency issues to improve its rating and foster greater trust among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Founders Ministries Inc legitimate?
Founders Ministries Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Founders Ministries Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $168,678
For more financial information, click here
What is the mission statement of Founders Ministries Inc?
Founders Ministries Inc's mission is centered around sharing the gospel of Jesus Christ. They achieve this through a ministry of teaching and encouragement, promoting both doctrinal understanding and personal devotion. This mission is grounded in the doctrines of grace, and its practical application is emphasized within the local church, particularly in worship and outreach. Founders Ministries Inc uses various mediums, including publications sold on a subscription basis, direct sales of books, CDs, and DVDs, as well as a weekly podcast, to spread their message.
Who is the CEO of Founders Ministries Inc?
Thomas K Ascol is the President of Founders Ministries Inc.
What is the revenue of Founders Ministries Inc?
Founders Ministries Inc's revenue in 2022 was $1,432,586.
Who are the executives of Founders Ministries Inc and what are their salaries?
The average compensation at Founders Ministries Inc during 2022 was $36,954. There are 7 employees at Founders Ministries Inc.
Here are 6 key members and their salaries:
- Compensation: $90,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Founders Ministries Inc?
Founders Ministries Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Founders Ministries Inc
Founders Ministries Inc, a non-profit organization, is dedicated to spreading the gospel of Jesus Christ. They accomplish this mission through a ministry of teaching and encouragement, promoting both doctrine and devotion. The organization's focus is on the doctrines of grace and their practical application within local churches, particularly in the areas of worship and witness. Founders Ministries Inc achieves this mission through the sale of publications on a subscription basis and direct sales of books, CDs, and DVDs. In addition, they offer a weekly podcast, providing further opportunities for spreading the gospel and promoting spiritual growth.
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Impact
July, 2024
Founders Ministries Inc's impact lies in its mission to proclaim the gospel of Jesus Christ through teaching and encouragement, promoting both doctrine and devotion expressed in the doctrines of grace. By providing publications, podcasts, and other resources, Founders Ministries Inc is actively supporting the local church in areas of worship and witness, contributing to the spiritual growth and understanding of believers who align with their theological beliefs. Their work serves to deepen the understanding and application of the doctrines of grace within the Christian community, fostering a greater appreciation for theological truths and their practical implications.
This information is meant to be a general summary of Founders Ministries Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $21,696
- Program Service Revenue: $504,851
- Gross Receipts: $1,432,586
Assets and Liabilities:
- Total Assets: $1,590,726
- Total Liabilities: $53,371
- Net Assets: $1,537,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Books & Merch Income
Revenue
$227,230
National Conference
Revenue
$249,596
Study Center
Revenue
$28,025
Organization Details
Founding Year
1990
Phone
(888) 525-1689Principal Officer
Thomas K Ascol
Main Address
PO BOX 150931, Cape Coral, FL, 33915
NTEE Category
Code: X20 - Religion related
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