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Nonprofiteer
← CHURCH OF GOD FOUNDATION INC

Form 990 for tax year 2024

Filed by CHURCH OF GOD FOUNDATION INC.

Totals

Total revenue
$3,620,297
Total expenses
$2,987,104
Contributions and grants received
$10,000
Grants paid
$0
Program service revenue
$3,228,839
Investment income
$374,199
Other revenue
$7,259
Total assets, end of year
$57,890,857
Total liabilities, end of year
$52,515,573
Net assets or fund balances, end of year
$5,375,284
Program services expenses (Part IX)
$2,559,675
Management and general expenses
$246,533
Fundraising expenses
$180,896
Program service expenses (Part III)
$2,559,675

Program services were 85.7% 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.

  • 1f · All other contributions, gifts and grants

    $10,000

  • 2a · Program service revenue: INTEREST ON TRUST ACCO

    total $3,228,839 · related or exempt $3,228,839

  • 3 · Investment income

    total $374,199 · related or exempt $374,199

  • 11a · Other revenue: CHANGE IN VALUE OF AGR

    total $7,259 · related or exempt $7,259

  • 11e · Other revenue, total

    $7,259

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $20,258 · program services $10,129 · management and general $10,129

  • 11c · Fees: accounting

    total $77,696 · program services $38,848 · management and general $38,848

  • 11f · Fees: investment management

    total $10,214 · program services $4,124 · management and general $3,179 · fundraising $2,911

  • 12 · Advertising and promotion

    total $23,518 · program services $9,495 · management and general $7,320 · fundraising $6,703

  • 13 · Office expenses

    total $11,087 · program services $4,476 · management and general $3,451 · fundraising $3,160

  • 14 · Information technology

    total $55,593 · program services $22,446 · management and general $17,303 · fundraising $15,844

  • 16 · Occupancy

    total $6,496 · program services $2,623 · management and general $2,022 · fundraising $1,851

  • 17 · Travel

    total $63,718 · program services $25,726 · management and general $19,832 · fundraising $18,160

  • 19 · Conferences, conventions and meetings

    total $10,760 · program services $4,344 · management and general $3,349 · fundraising $3,067

  • 24a · Other expenses: INTEREST ON INVESTMENT

    total $2,168,754 · program services $2,168,754

  • 24b · Other expenses: MANAGEMENT FEES PAID FO

    total $367,020 · program services $148,184 · management and general $114,235 · fundraising $104,601

  • 24c · Other expenses: CHARITABLE CONTRIBUTION

    total $61,744 · program services $24,929 · management and general $19,218 · fundraising $17,597

  • 24d · Other expenses: INTEREST ON TRUST/ANNUI

    total $55,931 · program services $55,931

  • 24e · All other expenses

    total $54,315 · program services $39,666 · management and general $7,647 · fundraising $7,002

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,400,527 · end of year $4,584,445

  • 2 · Savings and temporary cash investments

    beginning of year $1,459,151 · end of year $1,546,599

  • 7 · Other notes and loans receivable

    beginning of year $42,996,051 · end of year $48,797,056

  • 11 · Investments: publicly traded securities

    beginning of year $2,803,908 · end of year $2,962,757

  • 17 · Accounts payable and accrued expenses

    beginning of year $162,591 · end of year $727,927

  • 25 · Other liabilities

    beginning of year $44,765,487 · end of year $51,787,646

  • 27 · Net assets without donor restrictions

    beginning of year $4,511,118 · end of year $5,147,584

  • 28 · Net assets with donor restrictions

    beginning of year $220,441 · end of year $227,700

Mission and programs · 2024

Mission

THE MISSION OF THE CHURCH OF GOD FOUNDATION, INC. IS TO OFFER INVESTORS AND DONORS THE ABILITY TO PARTICIPATE IN INVESTMENT OPPORTUNITIES MANAGED FOR THE SOLE PURPOSE OF FURTHERING THE KINGDOM THROUGH THE PRUDENT STEWARDSHIP OF THOSE ASSETS.

  • THE CHURCH OF GOD FOUNDATION SERVES AS A CHURCH EXTENSION FUND AND FINANCIAL SERVICES MINISTRY FOR THE CONSTITUENTS OF THE CHURCH OF GOD, CLEVELAND, TN. COGF PROVIDES CHURCH OF GOD CONSTITUENTS WITH INVESTMENT OPPORTUNITIES, PROVIDES FINANCING TO CHURCH OF GOD CHURCHES AND MINISTRIES, PROMOTES LEGACY GIVING PROGRAMS, SERVES AS TRUSTEE OF PLANNED GIFTS (CHARITABLE TRUSTS AND CHARITABLE GIFT ANNUITIES), PROVIDES FINANCIAL AND LEADERSHIP RESOURCES FOR CHURCH OF GOD MINISTERS AND CONGREGATIONS, AS WELL AS PROMOTING CHARITABLE GIVING TO CHURCH OF GOD MINISTRIES.

    Expenses $2,559,675 · Revenue $3,610,297

As filed on the 2024 return.

Listed in Part VII

  • Dennis Watkins

    CHAIRMAN OF BOARD

    Total calculated
    $0
    Hours/week
    1
  • Arthur D Rhodes

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Travis Ballinger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Chris Conine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • T Dwight Spivey

    PRESIDENT

    Total calculated
    $152,838
    From this org
    $0
    From related orgs
    $77,338
    Other
    $75,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $77,338 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $75,500 related
    Filer's total
    $0 + $152,838 related
  • Lauren Myers

    CORPORATE SECRETARY

    Total calculated
    $3,175
    From this org
    $0
    From related orgs
    $3,175
    Other
    $0
    Hours/week
    32

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

None.

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
30 July 2025
IRS schema version
2024v5.2
Source object
202532199349300408

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