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Nonprofiteer
← MARKETPLACE MINISTRIES FOUNDATION

Form 990 for tax year 2022

Filed by MARKETPLACE MINISTRIES FOUNDATION.

Totals

Total revenue
$14,666
Total expenses
$1,019,187
Contributions and grants received
$95,750
Grants paid
$749,888
Program service revenue
$0
Investment income
-$85,520
Other revenue
$4,436
Total assets, end of year
$10,039,697
Total liabilities, end of year
$2,676,070
Net assets or fund balances, end of year
$7,363,627
Program services expenses (Part IX)
$749,888
Management and general expenses
$269,299
Fundraising expenses
$0
Program service expenses (Part III)
$749,888

Program services were 73.6% 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

    $95,750

  • 3 · Investment income

    total $303,055 · excluded $303,055

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $8,223,775

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

    securities $8,612,350

  • 7c · Gain or loss

    securities -$388,575

  • 7d · Net gain or loss

    total -$388,575 · excluded -$388,575

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $4,436 · excluded $4,436

  • 11e · Other revenue, total

    $4,436

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $680,448 · program services $680,448

  • 2 · Grants to domestic individuals

    total $69,440 · program services $69,440

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $21,190 · management and general $21,190

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $53,477 · management and general $53,477

  • 11g · Fees: other

    total $194,450 · management and general $194,450

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: BOARD MEETING EXPENSE

    total $182 · management and general $182

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,264 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $7,262 · end of year $9,231

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $15,000

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

    $15,617

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

    $15,617

  • 11 · Investments: publicly traded securities

    beginning of year $11,826,633 · end of year $10,015,466

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $17,785 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,100 · end of year $14,100

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,100,152 · end of year $2,661,970

  • 27 · Net assets without donor restrictions

    beginning of year $2,052,206 · end of year $517,152

  • 28 · Net assets with donor restrictions

    beginning of year $7,707,486 · end of year $6,846,475

Mission and programs · 2022

Mission

PROVIDE SUPPORT FOR MARKETPLACE MINISTRIES, INC.

  • Support Marketplace Ministries, Inc., a related organization.

    Expenses $680,448 · Grants $680,448

  • A program to provide grants and scholarships for the full-time college student children of the full-time staff members of Marketplace Ministries, Inc., a related organization.

    Expenses $69,440 · Grants $69,440

As filed on the 2022 return.

Listed in Part VII

  • Jason Brown

    MMI President & CEO

    Total calculated
    $259,038
    From this org
    $0
    From related orgs
    $221,467
    Other
    $37,571
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,527 related
    Bonus
    $0
    Other
    $0 + $940 related
    Deferred
    $0 + $12,203 related
    Nontaxable benefits
    $0 + $25,368 related
    Filer's total
    $0 + $259,038 related

  • Timothy Boobar

    CFO start: 5/22

    Total calculated
    $144,583
    From this org
    $0
    From related orgs
    $133,032
    Other
    $11,551
    Hours/week
    1 + 40 related

  • Larry King

    CFO end: 5/22

    Total calculated
    $99,845
    From this org
    $0
    From related orgs
    $96,827
    Other
    $3,018
    Hours/week
    1 + 40 related

  • Dick De Witt

    MMI President/CEO, END: 03/22

    Total calculated
    $29,503
    From this org
    $0
    From related orgs
    $24,057
    Other
    $5,446
    Hours/week
    1 + 40 related

  • Mark Lovvorn

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Ed Bonneau

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Dan Farell

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Kyle Hearon

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Robin Lewis

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dan Turner

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

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

  • 4a · Severance or change-of-control payment

Answered no

  • 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 I, LINE 3
METHOD TO ESTABLISH CEO COMPENSATION: MARKETPLACE MINISTRIES, INC, A RELATED ORGANIZATION, USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL. - COMPENSATION COMMITTEE - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
SCHEDULE J, PART I, LINE 4A
SEVERANCE PAYMENT: SEVERANCE IS A VOLUNTARY AGREEMENT THAT SET FORTH THE AGREED UPON SEPARATION DATE FOR EMPLOYMENT AND BENEFITS COVERAGE, THE AMOUNT OF PAYMENT, A CONFIDENTIALITY AGREEMENT CONCERNING COMPANY INFORMATION AND MATERIALS, RETURN OF COMPANY MATERIALS, AND COOPERATION CONCERNING BUSINESS MATTERS. THE FOLLOWING INDIVIDUALS RECEIVED A SEVERANCE PAYMENT FROM MARKETPLACE MINISTRIES, INC., A RELATED ORGANIZATION, IN THEIR 2022 TAXABLE COMPENSATION: LARRY KING $36,878

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

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.

  • Marketplace Ministries Inc

    501(c)(3) · Employee Care · TX

    Directly controlled by NA

  • Marketplace Chaplains Canada

    501(c)(3) · Employee Care · CA · controlled entity

    Directly controlled by Mktplace Min

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202313199349305231

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