Totals
- Total revenue
- $121,856,012
- Total expenses
- $106,498
- Contributions and grants received
- $120,001,000
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $580,860
- Other revenue
- $1,274,152
- Total assets, end of year
- $122,057,378
- Total liabilities, end of year
- $307,864
- Net assets or fund balances, end of year
- $121,749,514
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $106,498
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% 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
$120,001,000
-
1g · Noncash contributions included above
$30,000,000
-
3 · Investment income
total $580,860 · excluded $580,860
-
6a · Gross rents
real property $3,208,249
-
6b · Less rental expenses
real property $1,934,097
-
6c · Rental income or loss
real property $1,274,152
-
6d · Net rental income or loss
total $1,274,152 · excluded $1,274,152
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $86,249 · management and general $86,249
-
11g · Fees: other
total $67 · management and general $67
-
13 · Office expenses
total $757 · management and general $757
-
17 · Travel
total $10,684 · management and general $10,684
-
22 · Depreciation, depletion and amortization
total $187 · management and general $187
-
23 · Insurance
total $6,554 · management and general $6,554
-
24a · Other expenses: CONSULTING
total $2,000 · management and general $2,000
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $24,614,141
-
4 · Accounts receivable
end of year $1,664,796
-
7 · Other notes and loans receivable
end of year $55,000,000
-
9 · Prepaid expenses and deferred charges
end of year $108,348
-
10a · Land, buildings and equipment: cost or other basis
$41,059,882
-
10b · Land, buildings and equipment: accumulated depreciation
$611,893
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $40,447,989
-
14 · Intangible assets
end of year $130,738
-
15 · Other assets
beginning of year $0 · end of year $91,366
-
17 · Accounts payable and accrued expenses
end of year $115,257
-
25 · Other liabilities
beginning of year $0 · end of year $192,607
-
27 · Net assets without donor restrictions
end of year $121,749,514
Mission and programs · 2024
Mission
TO SHARE THE GOSPEL OF JESUS CHRIST BY PROVIDING FINANCIAL SUPPORT TO OTHER NON-PROFIT RELIGIOUS ORGANIZATIONS.
Activities or mission (Part I)
THE ORGANIZATION'S SOLE ACTIVITY WILL BE PROVIDING FINANCIAL SUPPORT TO OTHER RELIGIOUS 501(C)(3) ORGANIZATIONS.
-
CROSSSEED USED ITS RESOURCES TO BACKSTOP TBN MINISTRIES LIQUIDITY CHALLENGES THROUGH THE PURCHASE OF ASSETS AND CERTAIN LOAN INSTRUMENTS. PURCHASE OF QUORUM CENTER $54M, PURCHASE OF BAY COLONY $16M, LOC TO PURE NODAL $1.5M, AND CONVERTIBLE NOTE TO MERIT STREET MEDIA $25M.
As filed on the 2024 return.
Listed in Part VII
-
Floyd Bunker Sessions JrFLOYD BUNKER SESSIONS JR
PRESIDENT
- Total calculated
- $0
- Hours/week
- 16
-
Eric MillingtonERIC MILLINGTON
SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Matthew W CrouchMATTHEW W CROUCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Frank J AmediaFRANK J AMEDIA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Colby M MayCOLBY M MAY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349325116
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