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Nonprofiteer
← BAPTIST CHURCH LOAN CORPORATION

Form 990 for tax year 2022

Filed by BAPTIST CHURCH LOAN CORPORATION.

Totals

Total revenue
$6,400,498
Total expenses
$3,807,989
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,251,682
Investment income
$148,816
Other revenue
$0
Total assets, end of year
$168,000,890
Total liabilities, end of year
$47,123,368
Net assets or fund balances, end of year
$120,877,522
Program services expenses (Part IX)
$3,293,853
Management and general expenses
$514,136
Fundraising expenses
$0
Program service expenses (Part III)
$3,293,853

Program services were 86.5% 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.

  • 2a · Program service revenue: INTEREST REVENUE ON LO

    total $6,237,576 · related or exempt $6,237,576

  • 2b · Program service revenue: LATE FEES/NSF FEES

    total $14,106 · related or exempt $14,106

  • 3 · Investment income

    total $112,167 · excluded $112,167

  • 7a · Gross sales of assets other than inventory

    other assets $36,649

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $36,649

  • 7d · Net gain or loss

    total $36,649 · related or exempt $36,649

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $788,190 · program services $633,072 · management and general $155,118

  • 7 · Other salaries and wages

    total $521,029 · program services $416,823 · management and general $104,206

  • 8 · Pension plan contributions

    total $16,051 · program services $12,841 · management and general $3,210

  • 9 · Other employee benefits

    total $67,701 · program services $54,161 · management and general $13,540

  • 10 · Payroll taxes

    total $74,581 · program services $59,665 · management and general $14,916

  • 11b · Fees: legal

    total $3,030 · program services $3,030

  • 11c · Fees: accounting

    total $32,025 · management and general $32,025

  • 13 · Office expenses

    total $209,857 · program services $172,612 · management and general $37,245

  • 16 · Occupancy

    total $157,032 · program services $125,626 · management and general $31,406

  • 17 · Travel

    total $47,993 · program services $38,394 · management and general $9,599

  • 19 · Conferences, conventions and meetings

    total $11,450 · program services $9,160 · management and general $2,290

  • 20 · Interest

    total $1,326,148 · program services $1,326,148

  • 22 · Depreciation, depletion and amortization

    total $86,116 · program services $68,893 · management and general $17,223

  • 23 · Insurance

    total $49,823 · program services $39,858 · management and general $9,965

  • 24a · Other expenses: MINISTRY DEVELOPMENT

    total $263,588 · program services $210,870 · management and general $52,718

  • 24b · Other expenses: DATA PROCESSING

    total $83,979 · program services $67,183 · management and general $16,796

  • 24c · Other expenses: MISCELLANEOUS

    total $69,396 · program services $55,517 · management and general $13,879

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,481,575 · end of year $7,125,776

  • 2 · Savings and temporary cash investments

    beginning of year $148,771 · end of year $149,379

  • 4 · Accounts receivable

    beginning of year $341,527 · end of year $402,970

  • 7 · Other notes and loans receivable

    beginning of year $129,044,500 · end of year $158,035,562

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,388 · end of year $78,900

  • 10a · Land, buildings and equipment: cost or other basis

    $604,037

  • 10b · Land, buildings and equipment: accumulated depreciation

    $362,034

  • 10c · Land, buildings and equipment, net

    beginning of year $232,893 · end of year $242,003

  • 13 · Investments: program-related

    beginning of year $10,140,083 · end of year $550,792

  • 15 · Other assets

    beginning of year $0 · end of year $1,415,508

  • 17 · Accounts payable and accrued expenses

    beginning of year $288,753 · end of year $283,244

  • 23 · Secured mortgages and notes payable

    beginning of year $33,426,746 · end of year $45,424,616

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,415,508

  • 27 · Net assets without donor restrictions

    beginning of year $117,765,238 · end of year $120,877,522

Mission and programs · 2022

Mission

ESTABLISH NEW CONGREGATIONS AND STRENGTHEN EXISTING ONES BY PROVIDING AND SERVICING LOANS FOR LAND PURCHASE, CONSTRUCTION, IMPROVING CURRENT FACILITIES, OR PURCHASING A NEW FACILITY FOR WORSHIP/RELIGIOUS INSTRUCTION

Activities or mission (Part I)

ASSIST CHURCHES IN THEIR EFFORTS TO SPREAD THE GOSPEL BY PROVIDING AFFORDABLE REAL ESTATE LOANS

  • ESTABLISH NEW CONGREGATIONS AND STRENGTHEN EXISTING ONES BY PROVIDING AND SERVICING LOANS FOR LAND PURCHASE, CONSTRUCTION, IMPORVING CURRENT FACILITIES, OR PUCHASING A NEW FACILITY FOR WORSHIP/RELIGIOUS INSTRUCTION. 379 LOANS OUTSTANDING AS OF YEAR END.

    Expenses $3,293,853 · Revenue $6,288,331

As filed on the 2022 return.

Listed in Part VII

  • Bryan Rogers

    CHAIRMAN OF THE BOARD

    Total calculated
    $5,935
    From this org
    $5,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Mason

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Barbara Jane Kaplan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lynn Meers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Russell Shelton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Glenn Gaines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kelly McBrayer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ralph Ramsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jamye Cappadonna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jan Cason

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ryan Gibson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Philip Price

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gerald R James Jr

    PRESIDENT/CEO

    Total calculated
    $353,560
    From this org
    $297,085
    From related orgs
    $0
    Other
    $56,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,216
    Bonus
    $22,798
    Other
    $6,071
    Deferred
    $40,232
    Nontaxable benefits
    $16,243
    Filer's total
    $353,560

  • Bob Gage

    SENIOR VICE PRESIDENT

    Total calculated
    $256,570
    From this org
    $207,648
    From related orgs
    $0
    Other
    $48,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,392
    Bonus
    $13,829
    Other
    $9,427
    Deferred
    $27,659
    Nontaxable benefits
    $21,263
    Filer's total
    $256,570

  • Landon Yeager

    CHIEF FINANCIAL OFFICER

    Total calculated
    $225,608
    From this org
    $191,500
    From related orgs
    $0
    Other
    $34,108
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,224
    Bonus
    $12,917
    Other
    $6,359
    Deferred
    $22,389
    Nontaxable benefits
    $11,719
    Filer's total
    $225,608

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 · Compensation committee
  • 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

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
2022
Filed
6 May 2024
IRS schema version
2022v5.0
Source object
202401299349304550

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