Overview
What is Church Finance Corporation?
Church Finance Corporation, established in 1960, is a New Mexico-based non-profit organization with a mission to support the growth of Baptist churches and other Christian ministries. By providing financial and related services, as well as investment opportunities, the Corporation helps these entities acquire property, construct or improve buildings, expand, and remodel. Their primary sources of revenue include interest income from loans and loan processing fees. Founded with the aim of assisting Southern Baptist and other Evangelical Christian churches and ministries, the Corporation's work has contributed to the expansion of the Christian community over the years.
Official website here: www.churchfinancenm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Church Finance Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid score of 81%. This rating is primarily based on the organization's accountability and finance practices, indicating that they adhere to key financial management standards, which is crucial for donor confidence and support. The high score in accountability points to a well-structured governance model with a fully independent board and robust financial oversight mechanisms.
In terms of strengths, Church Finance Corporation excels in several areas, including having a conflict of interest policy and a whistleblower policy in place, both of which contribute to transparency and ethical governance. The organization also demonstrates a strong commitment to program expenses, with an impressive ratio of 96.33%, suggesting that a significant portion of funds is utilized for their intended purposes rather than administrative costs.
However, it is worth noting that the organization faces challenges with its liabilities to assets ratio, scoring 0 out of 15 points. This indicates a potential concern regarding financial stability, as high liabilities relative to assets could affect the organization’s sustainability and operational capacity in the long run. Overall, while Church Finance Corporation shows commendable practices in accountability and finance, monitoring its financial health is advisable for future stability.
This AI summary has been generated from information found on Charity Navigator.
Is Church Finance Corporation legitimate?
Church Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Church Finance Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.churchfinancenm.org
What is the mission statement of Church Finance Corporation?
The Church Finance Corporation, established in 1960, is a non-profit organization with a mission to assist Southern Baptist and other Evangelical Christian churches and related ministries in securing financing. This financing is primarily used for the purpose of purchasing property and constructing or improving buildings. The corporation generates its primary income from interest earnings from loans and fees associated with loan processing. In essence, the Church Finance Corporation acts as a financial aid provider, assisting churches in fulfilling their physical infrastructure needs.
Official website here: www.churchfinancenm.org
Who is the CEO of Church Finance Corporation?
Rick Breeden is the President of Church Finance Corporation.
Official website here: www.churchfinancenm.org
What is the revenue of Church Finance Corporation?
Church Finance Corporation's revenue in 2022 was $3,903,790.
Official website here: www.churchfinancenm.org
Who are the executives of Church Finance Corporation and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $177,019
- Other: $54,700
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- Other: $0
Official website here: www.churchfinancenm.org
Where can I find the form 990 for Church Finance Corporation?
Church Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.churchfinancenm.org
Learn more at the official website: www.churchfinancenm.org
Mission Statement of Church Finance Corporation
The Church Finance Corporation, established in 1960, is a non-profit organization with a mission to aid Southern Baptist and other Evangelical Christian churches and related ministries. Its primary objective is to assist these entities in securing or offering financing for the purpose of purchasing property or constructing or enhancing buildings. The Corporation's primary sources of income stem from interest earnings from loan receivables and loan processing fees. In essence, this organization serves as a financial facilitator, providing essential financial support to expand and improve the physical infrastructure of religious institutions.
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Impact
July, 2024
Church Finance Corporation has a significant impact on Southern Baptist and other evangelical Christian churches and related ministries by providing financial services and investment opportunities. Founded in 1960 in Albuquerque, New Mexico, the corporation plays a crucial role in facilitating the growth and expansion of these religious entities. By making loan funds available for property acquisition, building construction, and remodeling, Church Finance Corporation supports the physical infrastructure needed for these organizations to fulfill their missions effectively. Additionally, through investment opportunities, the corporation helps churches and ministries grow their resources, ultimately contributing to the expansion and strengthening of the Christian community.
This information is meant to be a general summary of Church Finance Corporation. 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: $271,436
- Program Service Revenue: $3,628,469
- Gross Receipts: $3,903,790
Assets and Liabilities:
- Total Assets: $88,136,013
- Total Liabilities: $80,432,620
- Net Assets: $7,703,393
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$3,233,495
LOAN FEE INCOME
Revenue
$394,974
Organization Details
Founding Year
1960
Phone
(505) 332-3777Principal Officer
Rick Breeden
Main Address
PO BOX 16560, ALBUQUERQUE, NM, 871916560
Website
www.churchfinancenm.orgNTEE Category
Code: X20 - Religion related
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