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Nonprofiteer
← CHURCH FINANCE CORPORATION

Form 990 for tax year 2024

Filed by CHURCH FINANCE CORPORATION.

Totals

Total revenue
$5,407,211
Total expenses
$3,701,142
Contributions and grants received
$2,654
Grants paid
$0
Program service revenue
$4,824,129
Investment income
$580,428
Other revenue
$0
Total assets, end of year
$88,197,711
Total liabilities, end of year
$76,190,285
Net assets or fund balances, end of year
$12,007,426
Program services expenses (Part IX)
$3,576,796
Management and general expenses
$124,346
Fundraising expenses
$0
Program service expenses (Part III)
$3,576,796

Program services were 96.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • RICK BREEDEN

    PRESIDENT

    Total calculated
    $390,801
    From this org
    $0
    From related orgs
    $309,500
    Other
    $81,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $309,500 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $81,301 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $390,801 related

  • LEWIS WILLIAMS

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • JOE COEY

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    2

  • KIRK HUDSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • LINDA DEAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EDDIE MCCALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD GOMEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAMES FRANCIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT EWING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

SCHEDULE J, PART III
RICK BREEDEN'S COMPENSATION IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS OF THE NEW MEXICO BAPTIST FOUNDATION (FOUNDATION). THE ANNUAL MANAGEMENT FEE CHARGED TO THE CORPORATION BY THE FOUNDATION INCLUDES AN ANALYSES OF TIME TO BE SPENT ON CORPORATION ACTIVITIES BY FOUNDATION EMPLOYEES. RICK BREEDEN IS COMPENSATED SOLELY THROUGH THE FOUNDATION AND DOES NOT RECEIVE ANY COMPENSATION DIRECTLY FROM THE CORPORATION.

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
19 August 2025
IRS schema version
2024v5.0
Source object
202542809349302029

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