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Nonprofiteer
← THE TIMOTHY INITIATIVE INC

Form 990 for tax year 2022

Filed by THE TIMOTHY INITIATIVE INC.

Totals

Total revenue
$18,484,088
Total expenses
$17,649,893
Contributions and grants received
$18,551,259
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
-$67,171
Total assets, end of year
$26,997,979
Total liabilities, end of year
$596,620
Net assets or fund balances, end of year
$26,401,359
Program services expenses (Part IX)
$15,154,194
Management and general expenses
$855,974
Fundraising expenses
$1,639,725
Program service expenses (Part III)
$15,154,194

Program services were 85.9% 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.

  • 1c · Fundraising events

    $408,841

  • 1f · All other contributions, gifts and grants

    $18,142,418

  • 1g · Noncash contributions included above

    $695,016

  • 8a · Fundraising events: contributions included on line 1c

    $408,841

  • 8b · Fundraising events: direct expenses

    $70,748

  • 8c · Net income from fundraising events

    total -$70,748

  • 11a · Other revenue: OTHER REVENUE

    total $476,477 · related or exempt $476,477

  • 11b · Other revenue: LOSS ON FORGN CURR TRANSL

    total -$662 · related or exempt -$662

  • 11c · Other revenue: LOSS ON DISPOSAL OF ASSETS

    total -$6,044 · related or exempt -$6,044

  • 11d · All other revenue

    total -$466,194 · related or exempt -$466,194

  • 11e · Other revenue, total

    $3,577

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $349,738 · program services $333,899 · fundraising $15,839

  • 7 · Other salaries and wages

    total $3,124,761 · program services $1,977,808 · management and general $321,844 · fundraising $825,109

  • 9 · Other employee benefits

    total $176,699 · program services $100,525 · management and general $54,168 · fundraising $22,006

  • 10 · Payroll taxes

    total $124,768 · program services $68,622 · management and general $39,926 · fundraising $16,220

  • 11b · Fees: legal

    total $20,695 · management and general $20,695

  • 11c · Fees: accounting

    total $10,041 · management and general $10,041

  • 11f · Fees: investment management

    total $22,500 · management and general $22,500

  • 11g · Fees: other

    total $70,461 · program services $21,416 · management and general $13,045 · fundraising $36,000

  • 12 · Advertising and promotion

    total $58,256 · program services $57,516 · fundraising $740

  • 13 · Office expenses

    total $1,825,057 · program services $1,747,451 · management and general $77,606

  • 14 · Information technology

    total $136,209 · program services $69,676 · management and general $66,533

  • 17 · Travel

    total $1,786,531 · program services $1,505,897 · fundraising $280,634

  • 19 · Conferences, conventions and meetings

    total $536,270 · program services $211,249 · fundraising $325,021

  • 22 · Depreciation, depletion and amortization

    total $56,079 · management and general $56,079

  • 23 · Insurance

    total $75,127 · management and general $75,127

  • 24a · Other expenses: CURRICULUM AND MINISTRY

    total $8,723,063 · program services $8,582,499 · management and general $69,645 · fundraising $70,919

  • 24b · Other expenses: INTERNATIONAL EXPANSION

    total $263,765 · program services $263,765

  • 24c · Other expenses: MISCELLANEOUS

    total $138,825 · program services $62,823 · management and general $28,765 · fundraising $47,237

  • 24d · Other expenses: BENEVOLENCE

    total $128,993 · program services $128,993

  • 24e · All other expenses

    total $22,055 · program services $22,055

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,355,766 · end of year $4,679,254

  • 2 · Savings and temporary cash investments

    beginning of year $17,078,010 · end of year $16,945,812

  • 4 · Accounts receivable

    end of year $4,853

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,701 · end of year $289,972

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

    $380,066

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

    $71,278

  • 10c · Land, buildings and equipment, net

    beginning of year $177,359 · end of year $308,788

  • 11 · Investments: publicly traded securities

    beginning of year $5,117,072 · end of year $4,704,974

  • 15 · Other assets

    beginning of year $26,789 · end of year $64,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $302,533 · end of year $560,791

  • 25 · Other liabilities

    end of year $35,829

  • 27 · Net assets without donor restrictions

    beginning of year $8,489,154 · end of year $9,455,547

  • 28 · Net assets with donor restrictions

    beginning of year $17,078,010 · end of year $16,945,812

Mission and programs · 2022

Mission

THE TIMOTHY INITIATIVE EXISTS TO ADVANCE CHRIST'S KINGDOM BY MULTIPLYING DISCIPLES AND DISCIPLE MAKING CHURCHES AROUND THE WORLD.

  • PROJECTS IN ASIA FOCUS ON DISCIPLE MAKING, CHURCH PLANTING AND LEADERSHIP DEVELOPMENTIN AND THROUGH INDIGENOUS LEADERSHIP, WE WORK IN PLACES AND AMONG PEOPLE WHO HAVE LITTLE TO NO ACCESS TO THE GOSPEL. THE PRIMARY AIM OF ALL EFFORTS RESULT IN NEW DISCIPLES MADE AND MULTIPLIED, NEW CHURCHES PLANTED AND MULTIPLIED, NEW LEADERS RAISED UP MULTIPLIED, ORPHANS AND WIDOWS TAKEN IN AND CARED FOR BY THE LOCAL CHURCH, UNREACHED PEOPLE GROUPS AND UNREACHED PLACES ENGAGED.

    Expenses $7,779,703

  • PROJECTS IN AFRICA FOCUS ON DISCIPLE MAKING, CHURCH PLANTING AND LEADERSHIP DEVELOPMENTIN AND THROUGH INDIGENOUS LEADERSHIP, WE WORK IN PLACES AND AMONG PEOPLE WHO HAVE LITTLE TO NO ACCESS TO THE GOSPEL. THE PRIMARY AIM OF ALL EFFORTS RESULT IN NEW DISCIPLES MADE AND MULTIPLIED, NEW CHURCHES PLANTED AND MULTIPLIED, NEW LEADERS RAISED UP MULTIPLIED, ORPHANS AND WIDOWS TAKEN IN AND CARED FOR BY THE LOCAL CHURCH, UNREACHED PEOPLE GROUPS AND UNREACHED PLACES ENGAGED.

    Expenses $5,423,982

  • PROJECTS IN THE AMERICAS FOCUS ON DISCIPLE MAKING, CHURCH PLANTING AND LEADERSHIP DEVELOPMENTIN AND THROUGH INDIGENOUS LEADERSHIP, WE WORK IN PLACES AND AMONG PEOPLE WHO HAVE LITTLE TO NO ACCESS TO THE GOSPEL. THE PRIMARY AIM OF ALL EFFORTS RESULT IN NEW DISCIPLES MADE AND MULTIPLIED, NEW CHURCHES PLANTED AND MULTIPLIED, NEW LEADERS RAISED UP MULTIPLIED, ORPHANS AND WIDOWS TAKEN IN AND CARED FOR BY THE LOCAL CHURCH, UNREACHED PEOPLE GROUPS AND UNREACHED PLACES ENGAGED.

    Expenses $1,950,509

  • CHURCH PLANTING

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DAVID NELMS

    PRESIDENT

    Total calculated
    $185,652
    From this org
    $185,652
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,652
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $185,652

  • JARED NELMS

    CEO & VICE P

    Total calculated
    $164,086
    From this org
    $158,386
    From related orgs
    $0
    Other
    $5,700
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,386
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,700
    Nontaxable benefits
    not reported
    Filer's total
    $164,086

  • JUSTIN SOGOIAN

    REGIONAL DIR

    Total calculated
    $151,742
    From this org
    $151,742
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,742
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $151,742

  • GARY SCHNEIDER

    REGIONAL DIR

    Total calculated
    $145,634
    From this org
    $145,634
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • FREGY JOHN

    INT'L MINIST

    Total calculated
    $100,658
    From this org
    $100,658
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • MALCOLM CARTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JONATHAN FALWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JEFF FORESTER

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • DALE HUMMEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • DON KELLY

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • LESLIE KELLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SWEETLIN MANOHARAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • JOE MCKAIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • ALAN POENITSKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • LYNN REIMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • SCOTT RIDOUT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • KATHY ROBERTSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
12 July 2023
IRS schema version
2022v5.0
Source object
202342139349300829

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