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← DAMON THOMPSON MINISTRIES

Form 990 for tax year 2022

Filed by DAMON THOMPSON MINISTRIES.

Totals

Total revenue
$2,103,492
Total expenses
$1,127,259
Contributions and grants received
$1,615,047
Grants paid
$150,251
Program service revenue
$0
Investment income
$488,445
Other revenue
$0
Total assets, end of year
$4,311,342
Total liabilities, end of year
$39,364
Net assets or fund balances, end of year
$4,271,978
Program services expenses (Part IX)
$809,460
Management and general expenses
$317,799
Fundraising expenses
$0
Program service expenses (Part III)
$809,460

Program services were 71.8% 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

    $1,615,047

  • 1g · Noncash contributions included above

    $275,259

  • 3 · Investment income

    total $4,195 · related or exempt $53 · excluded $4,142

  • 7a · Gross sales of assets other than inventory

    securities $1,033,415 · other assets $60,933

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

    securities $549,212 · other assets $60,886

  • 7c · Gain or loss

    securities $484,203 · other assets $47

  • 7d · Net gain or loss

    total $484,250 · related or exempt $483,817 · excluded $433

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $138,757 · program services $138,757

  • 2 · Grants to domestic individuals

    total $11,494 · program services $11,494

  • 6 · Compensation of disqualified persons

    total $400,440 · program services $240,264 · management and general $160,176

  • 7 · Other salaries and wages

    total $234,417 · program services $175,813 · management and general $58,604

  • 9 · Other employee benefits

    total $56,867 · program services $37,532 · management and general $19,335

  • 10 · Payroll taxes

    total $29,797 · program services $19,070 · management and general $10,727

  • 11c · Fees: accounting

    total $11,602 · management and general $11,602

  • 12 · Advertising and promotion

    total $4,532 · program services $4,532

  • 13 · Office expenses

    total $2,342 · program services $1,171 · management and general $1,171

  • 14 · Information technology

    total $1,213 · program services $1,213

  • 16 · Occupancy

    total $58,970 · program services $14,742 · management and general $44,228

  • 17 · Travel

    total $56,758 · program services $53,920 · management and general $2,838

  • 22 · Depreciation, depletion and amortization

    total $35,626 · program services $35,626

  • 23 · Insurance

    total $14,536 · program services $14,536

  • 24a · Other expenses: DIRECT MINISTRY EXPENSE

    total $37,228 · program services $37,228

  • 24b · Other expenses: BANK & MERCHANT CHARGES

    total $11,347 · program services $10,780 · management and general $567

  • 24c · Other expenses: TELEPHONE

    total $9,821 · program services $7,366 · management and general $2,455

  • 24d · Other expenses: PROPERTY TAXES

    total $5,141 · management and general $5,141

  • 24e · All other expenses

    total $6,371 · program services $5,416 · management and general $955

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,624,641 · end of year $2,629,432

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

    $1,360,703

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

    $79,443

  • 10c · Land, buildings and equipment, net

    beginning of year $545,753 · end of year $1,281,260

  • 11 · Investments: publicly traded securities

    beginning of year $189,862 · end of year $400,650

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,761 · end of year $39,364

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,339,495 · end of year $4,271,978

Mission and programs · 2022

Mission

ADVANCING THE KINGDOM OF GOD AND SPREADING THE GOSPEL THROUGH PREACHING, TEACHING, AND EVANELIZING.

Activities or mission (Part I)

ADVANCING THE KINGDOM OF GOD AND SPREADING THE GOSPEL THROUGH PREACHING, TEACHING, AND EVANGELIZING.

  • PREACHING AT MINISTRY EVENTS HELD IN SOUTH CAROLINA AND VARIOUS OTHER STATES.

    Expenses $809,460 · Grants $150,251

As filed on the 2022 return.

Listed in Part VII

  • Damon Thompson

    PRESIDENT

    Total calculated
    $191,760
    From this org
    $131,760
    From related orgs
    $0
    Other
    $60,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,000
    Bonus
    $26,760
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $60,000
    Filer's total
    $191,760

  • Kristin Picklesimer

    SECRETARY

    Total calculated
    $91,967
    From this org
    $91,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Henry Thompson

    DIRECTOR

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • William Lyndon Amick

    DIRECTOR

    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

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

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

  • THE HOMESTEAD MOBILE

    $40,000

  • DUTCH SHEETS MINISTRIES

    $22,000

    GENERAL OPERATIONS

  • WORLD CHANGERS MINISTRY

    $12,000

  • WYMAN KING ACADAMY

    $10,907

    GENERAL OPERATIONS

  • THE SHEPHERDS TENT

    $10,000

  • THE HOMESTEAD CHURCH

    $8,850

  • LIBERATED MINISTRIES

    $7,000

  • YOVEL MINISTRIES

    $7,000

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2023
IRS schema version
2022v5.0
Source object
202312299349300136

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