Form 990 for tax year 2024

Filed by FREE WILL BAPTIST CHILDRENS HOME INC.

Totals

Total revenue: $5,215,477
Total expenses: $5,094,894
Contributions and grants received: $3,954,468
Grants paid: $0
Program service revenue: $194,504
Investment income: $704,448
Other revenue: $362,057
Total assets, end of year: $18,565,313
Total liabilities, end of year: $993,481
Net assets or fund balances, end of year: $17,571,832
Program services expenses (Part IX): $3,839,376
Management and general expenses: $965,583
Fundraising expenses: $289,935
Program service expenses (Part III): $3,839,376

Program services were 75.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$2,581,052
1f · All other contributions, gifts and grants

$1,373,416
1g · Noncash contributions included above

$7,805
2a · Program service revenue: AFTER SCHOOL PROGRAM

total $194,504 · related or exempt $194,504
3 · Investment income

total $288,730 · excluded $288,730
6a · Gross rents

real property $22,450
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $22,450
6d · Net rental income or loss

total $22,450 · excluded $22,450
7a · Gross sales of assets other than inventory

securities $4,180,983 · other assets $6,474
7b · Less cost or other basis and sales expenses

securities $3,771,739 · other assets $0
7c · Gain or loss

securities $409,244 · other assets $6,474
7d · Net gain or loss

total $415,718 · excluded $415,718
11a · Other revenue: INSURANCE REIMBURSEMENT

total $332,699 · excluded $332,699
11b · Other revenue: MISC. REVENUE

total $6,908 · excluded $6,908
11e · Other revenue, total

$339,607

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $194,943 · program services $146,159 · management and general $40,080 · fundraising $8,704
7 · Other salaries and wages

total $2,205,817 · program services $1,668,754 · management and general $444,995 · fundraising $92,068
8 · Pension plan contributions

total $65,238 · program services $47,230 · management and general $14,374 · fundraising $3,634
9 · Other employee benefits

total $317,810 · program services $230,083 · management and general $70,024 · fundraising $17,703
10 · Payroll taxes

total $177,710 · program services $128,656 · management and general $39,155 · fundraising $9,899
11b · Fees: legal

total $30,234 · program services $2,696 · management and general $27,451 · fundraising $87
11c · Fees: accounting

total $61,848 · program services $5,515 · management and general $56,154 · fundraising $179
11f · Fees: investment management

total $42,472 · management and general $42,472
14 · Information technology

total $73,734 · program services $47,467 · management and general $15,245 · fundraising $11,022
16 · Occupancy

total $124,007 · program services $121,311 · management and general $1,661 · fundraising $1,035
17 · Travel

total $95,783 · program services $85,222 · management and general $6,678 · fundraising $3,883
22 · Depreciation, depletion and amortization

total $368,100 · program services $330,417 · management and general $37,683
24a · Other expenses: FOSTER CARE PAYMENTS

total $329,843 · program services $329,843
24b · Other expenses: MISCELLANEOUS

total $166,743 · program services $84,766 · management and general $33,110 · fundraising $48,867
24c · Other expenses: FOOD

total $142,726 · program services $142,726
24d · Other expenses: INSURANCE

total $130,043 · program services $112,584 · management and general $14,938 · fundraising $2,521
24e · All other expenses

total $567,843 · program services $355,947 · management and general $121,563 · fundraising $90,333

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $991 · end of year $1,495
2 · Savings and temporary cash investments

beginning of year $1,133,675 · end of year $898,175
3 · Pledges and grants receivable

beginning of year $103,807 · end of year $54,967
4 · Accounts receivable

beginning of year $231,974 · end of year $264,540
8 · Inventories for sale or use

beginning of year $519 · end of year $383
9 · Prepaid expenses and deferred charges

beginning of year $18,550 · end of year $19,150
10a · Land, buildings and equipment: cost or other basis

$10,760,233
10b · Land, buildings and equipment: accumulated depreciation

$3,231,936
10c · Land, buildings and equipment, net

beginning of year $7,049,124 · end of year $7,528,297
11 · Investments: publicly traded securities

beginning of year $9,635,393 · end of year $9,794,043
15 · Other assets

beginning of year $3,802 · end of year $4,263
17 · Accounts payable and accrued expenses

beginning of year $260,543 · end of year $260,578
23 · Secured mortgages and notes payable

beginning of year $755,488 · end of year $732,903
27 · Net assets without donor restrictions

beginning of year $15,819,560 · end of year $15,988,443
28 · Net assets with donor restrictions

beginning of year $1,342,244 · end of year $1,583,389

Mission and programs · 2024

Mission

OUR VISION IS TO SEE EVERY CHILD THRIVE AND FAMILIES FLOURISH. FREE WILL BAPTIST CHILDREN'S HOME IS CALLED TO PROVIDE A NURTURING ENVIRONMENT TO PROMOTE THE SPIRITUAL, EMOTIONAL, EDUCATIONAL AND PHYSICAL WELL BEING OF CHILDREN, YOUTH AND FAMILIES. OUR VALUES ARE CHILD FOCUSED, CHRIST CENTERED, FAMILY ORIENTED AND EDUCATION MINDED.

Activities or mission (Part I)

FREE WILL BAPTIST CHILDREN'S HOME IS CALLED TO PROVIDE A NURTURING ENVIRONMENT TO PROMOTE THE SPIRITUAL, EMOTIONAL, EDUCATIONAL AND PHYSICAL WELL-BEING OF CHILDREN, YOUTH AND FAMILIES.

ALTERNATIVE FAMILY PLACEMENT - OUR RESIDENTIAL CARE PROGRAM PROVIDES A LOVING, TRADITIONAL HOME ATMOSPHERE FOR YOUTH IN A NURTURING ENVIRONMENT. CASE MANAGEMENT PROVIDES THEM WITH PROFESSIONAL SERVICES TO WORK TOWARD GOALS BASED ON PHYSICAL, SPIRITUAL, EDUCATIONAL, AND EMOTIONAL NEEDS. COTTAGE STAFF PROVIDES SUPPORT AND ENCOURAGEMENT TO HELP YOUTH BECOME SUCCESSFUL IN MAKING LIFE-CHANGING DECISIONS AND DEVELOP LASTING RELATIONSHIPS WITH FAMILY AND PEERS.

Expenses $312,314
FOSTER CARE/ADOPTION - OUR FOSTER CARE SERVICES RECRUIT AND TRAIN FOSTER FAMILIES TO CARE FOR YOUTH. THESE LICENSED HOMES PROVIDE A STABLE AND NURTURING ENVIRONMENT TO HELP SUPPORT FAMILIES IN CRISIS AND WORK TOWARD REUNIFICATION. WHEN REUNIFICATION IS NOT POSSIBLE, OUR STAFF PROVIDES ADOPTION SUPPORT FOR FOSTER FAMILIES WHO DESIRE TO GIVE YOUTH A FOREVER HOME.

Expenses $749,512
BRIDGE LEARNING CENTER - OUR BRIDGE LEARNING CENTER IS A PRE-K, BEFORE/AFTER SCHOOL AND SUMMER PROGRAM SERVING PRE-K - 5TH GRADE CHILDREN IN OUR COMMUNITY. BRIDGE LEARNING CENTER WORKS TOGETHER AS A FAMILY (ADMINISTRATION, STAFF AND PARENTS) TO PROVIDE THE BEST ENVIRONMENT FOR EACH CHILD. OUR GOAL IS TO PROVIDE POSITIVE RELATIONSHIPS WITHIN THE COMMUNITY AND TO NURTURE THE CHILDREN IN ALL ASPECTS OF DEVELOPMENT INCLUDING COGNITIVE, PHYSICAL, SOCIAL, EMOTIONAL AND SPIRITUAL DEVELOPMENT.

Expenses $404,794 · Revenue $194,504
THRIVE INDEPENDENT LIVING - OUR INDEPENDENT LIVING PROGRAM PROVIDES STABLE AND SECURE APARTMENTS ON CAMPUS FOR YOUTH 18 AND UP. STAFF WORK WITH YOUTH TO OBTAIN DRIVER'S LICENSES, DEVELOP LIFE SKILLS AND WORK TOWARD EDUCATIONAL AND EMPLOYMENT GOALS. THESE GOALS ARE DESIGNED TO PREPARE YOUTH FOR INDEPENDENT ADULTHOOD AND ENCOURAGE THEM TO BUILD POSITIVE RELATIONSHIPS.

Expenses $237,425
CHILDREN'S SERVICES - THIS PROGRAM PROVIDES A WARM, NURTURING ENVIRONMENT WITH FULL-TIME COTTAGE PARENTS WHO TEACH OUR CHILDREN BEGINNING INDEPENDENT LIVING SKILLS, SUCH AS ORGANIZATIONAL, MONEY AND TIME MANAGEMENT SKILLS, AS WELL AS SOCIAL SKILLS AND SELF ADVOCACY SKILLS. IT PROVIDES A HIGHLY-DISCIPLINED ENVIRONMENT AND POSITIVE FEEDBACK THAT ENCOURAGES ADOLESCENTS TO CHANGE NEGATIVE BEHAVIOR AND ATTITUDES TO BE MORE CONSIDERATE, AND RESPECTFUL OF NORMS.

Expenses $2,135,331

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

JOHNNY SULLIVAN

CHAIRPERSON

Total calculated

$0

Hours/week

1
SHERRY ASKEW

SECRETARY

Total calculated

$0

Hours/week

1
LAURA BUDDIN

ASSISTANT SECRETARY

Total calculated

$0

Hours/week

1
PAMELA BRAXTON

BOARD MEMBER

Total calculated

$0

Hours/week

1
JUDY ROBERSON

BOARD MEMBER

Total calculated

$0

Hours/week

1
ERIC NARRON

BOARD MEMBER

Total calculated

$0

Hours/week

1
KATHERINE ALPHIN

BOARD MEMBER

Total calculated

$0

Hours/week

1
DUANE CASEY

MEMBER AT LARGE

Total calculated

$0

Hours/week

1
GARY FAIRCLOTH

BOARD MEMBER

Total calculated

$0

Hours/week

1
TODD SUTTON

BOARD MEMBER

Total calculated

$0

Hours/week

1
JOSH WHITFIELD

VICE-CHAIRPERSON

Total calculated

$0

Hours/week

1
ASHLEY RODRIGUEZ

BOARD MEMBER

Total calculated

$0

Hours/week

1
GARY LEE

PRESIDENT/CEO

Total calculated

$194,945

From this org

$154,400

From related orgs

$0

Other

$40,545

Hours/week

40

Schedule J breakdown matched by us

Base

$150,000

Bonus

$4,400

Other

$0

Deferred

$21,206

Nontaxable benefits

$19,339

Filer's total

$194,945

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3: IN 2024 AN INDEPENDENT CONSULTANT WAS RETAINED TO REVIEW THE CEO COMPENSATION AND PRESENTED THEIR STUDY FINDINGS TO THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

FWB FRIENDS OF CHILDREN FOUNDATION

501(C)(3) · SUPPORT OF FREE WILL BAPTIST CHILDREN'S HOME OPERATIONS · NC · controlled entity

Directly controlled by FREE WILL BAPTIST CHILDREN'S HOME INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 9 February 2026
IRS schema version: 2024v5.5
Source object: 202630409349300818

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