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← PROVIDENCE EDUCATIONAL FOUNDATION

Form 990 for tax year 2024

Filed by PROVIDENCE EDUCATIONAL FOUNDATION.

Totals

Total revenue
$1,699,336
Total expenses
$1,707,108
Contributions and grants received
$561,500
Grants paid
$0
Program service revenue
$777,183
Investment income
$360,653
Other revenue
$0
Total assets, end of year
$8,665,948
Total liabilities, end of year
$835,840
Net assets or fund balances, end of year
$7,830,108
Program services expenses (Part IX)
$1,682,437
Management and general expenses
$24,671
Fundraising expenses
$0
Program service expenses (Part III)
$1,682,437

Program services were 98.6% 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

    $561,500

  • 2a · Program service revenue: CHRISTIAN BROADCASTING

    total $777,183 · related or exempt $777,183

  • 3 · Investment income

    total $360,653 · excluded $360,653

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,298,364 · program services $1,298,364

  • 11c · Fees: accounting

    total $11,700 · management and general $11,700

  • 13 · Office expenses

    total $12,971 · management and general $12,971

  • 20 · Interest

    total $53,002 · program services $53,002

  • 21 · Payments to affiliates

    total $200,000 · program services $200,000

  • 22 · Depreciation, depletion and amortization

    total $131,071 · program services $131,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $352,684 · end of year $635,424

  • 4 · Accounts receivable

    beginning of year $588,169 · end of year $469,261

  • 7 · Other notes and loans receivable

    beginning of year $4,299,120 · end of year $4,216,402

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

    $4,032,237

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

    $2,678,868

  • 10c · Land, buildings and equipment, net

    beginning of year $1,404,959 · end of year $1,353,369

  • 11 · Investments: publicly traded securities

    beginning of year $1,534,033 · end of year $1,525,156

  • 15 · Other assets

    beginning of year $549,244 · end of year $466,336

  • 25 · Other liabilities

    beginning of year $877,823 · end of year $835,840

  • 27 · Net assets without donor restrictions

    beginning of year $7,850,386 · end of year $7,830,108

Mission and programs · 2024

Mission

TO PROVIDE CHRISTIAN BROADCASTING IN THE NEW ORLEANS METROPLEX, TO SERVE THE COMMUNITY BY PROCLAIMING CHRIST AND TO PROVIDE HOUSING FOR THE NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY'S MISSION LAB PROGRAM, STUDENTS AND GUESTS.

  • TO PROVIDE 24/7 BROADCASTING IN THE NEW ORLEANS METROPLEX AND INTERNET BROADCASTING OF CHRISTIAN MUSIC AND MINISTRY 365 DAYS A YEAR INCLUDING MONTHLY MINISTRY FOCUSING ON ASSISTING PEOPLE IN THE NEW ORLEANS COMMUNITY. IN ADDITION, PROVIDENCE EDUCATIONAL FOUNDATION PROVIDES HOUSING FOR THE NEW ORLEANS BAPTIST THEOLOGICAL SEMINARY'S MISSION LAB PROGRAM THAT MINISTERS THROUGH 4,500 INDIVIDUALS TO THE NEW ORLEANS COMMUNITY, 115 STUDENTS LIVING ON THE SEMINARY CAMPUS, AND SEMINARY GUESTS.

    Expenses $1,682,437 · Revenue $777,183

As filed on the 2024 return.

Listed in Part VII

  • JIM DAVISON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • DUDLEY MAY

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • CLAY CORVIN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • BRETT ALLEN

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • JAMES E DAVISON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR JAMIE DEW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • PHIL HANBERRY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • KRISTY HATSFELT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • JOHN GREENBANK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • MACK GRUBBS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • JOHNNY JERNIGAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR LARRY LYON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR NELSON PRICE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • DR NANCY VICTORY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

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.

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
25 November 2025
IRS schema version
2024v5.2
Source object
202503499349301015

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