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Nonprofiteer
← BELIEVERS STEWARDSHIP SERVICES INC

Form 990 for tax year 2022

Filed by BELIEVERS STEWARDSHIP SERVICES INC.

Totals

Total revenue
$11,717,584
Total expenses
$4,461,332
Contributions and grants received
$9,859,946
Grants paid
$3,420,842
Program service revenue
$0
Investment income
$1,762,149
Other revenue
$95,489
Total assets, end of year
$22,648,425
Total liabilities, end of year
$3,999,237
Net assets or fund balances, end of year
$18,649,188
Program services expenses (Part IX)
$3,950,981
Management and general expenses
$485,024
Fundraising expenses
$25,327
Program service expenses (Part III)
$3,950,981

Program services were 88.6% 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

    $9,859,946

  • 1g · Noncash contributions included above

    $1,831,438

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $406,671 · excluded $406,671

  • 5 · Royalties

    total $22,974 · excluded $22,974

  • 6a · Gross rents

    real property $39,389

  • 6c · Rental income or loss

    real property $39,389 · personal property $0

  • 6d · Net rental income or loss

    total $39,389 · excluded $39,389

  • 7a · Gross sales of assets other than inventory

    securities $4,495,358 · other assets $778,800

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

    securities $3,082,480 · other assets $836,200

  • 7c · Gain or loss

    securities $1,412,878 · other assets -$57,400

  • 7d · Net gain or loss

    total $1,355,478 · excluded $1,355,478

  • 11d · All other revenue

    total $33,126 · related or exempt $33,126 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $33,126

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,365,627 · program services $3,365,627

  • 3 · Grants to foreign organizations and individuals

    total $55,215 · program services $55,215

  • 5 · Compensation of officers, directors and key employees

    total $133,588 · program services $51,687 · management and general $81,842 · fundraising $59

  • 7 · Other salaries and wages

    total $305,461 · program services $118,188 · management and general $187,139 · fundraising $134

  • 8 · Pension plan contributions

    total $70,766 · program services $27,381 · management and general $43,354 · fundraising $31

  • 9 · Other employee benefits

    total $42,890 · program services $16,595 · management and general $26,276 · fundraising $19

  • 10 · Payroll taxes

    total $33,832 · program services $11,187 · management and general $19,867 · fundraising $2,778

  • 11b · Fees: legal

    total $73,084 · program services $54,225 · management and general $18,859

  • 11c · Fees: accounting

    total $36,761 · program services $27,275 · management and general $9,486

  • 11g · Fees: other

    total $37,473 · program services $27,803 · management and general $9,670 · fundraising $0

  • 12 · Advertising and promotion

    total $4,380 · fundraising $4,380

  • 13 · Office expenses

    total $9,898 · program services $2,602 · management and general $5,019 · fundraising $2,277

  • 14 · Information technology

    total $27,442 · program services $6,797 · management and general $11,131 · fundraising $9,514

  • 17 · Travel

    total $37,191 · program services $31,041 · management and general $1,816 · fundraising $4,334

  • 19 · Conferences, conventions and meetings

    total $624 · management and general $624

  • 20 · Interest

    total $700 · program services $700

  • 22 · Depreciation, depletion and amortization

    total $14,591 · program services $5,107 · management and general $8,171 · fundraising $1,313

  • 23 · Insurance

    total $7,000 · management and general $7,000

  • 24e · All other expenses

    total $204,809 · program services $149,551 · management and general $54,770 · fundraising $488

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $42,468

  • 2 · Savings and temporary cash investments

    beginning of year $1,436,711 · end of year $857,822

  • 4 · Accounts receivable

    beginning of year $5,847 · end of year $3,720

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,334 · end of year $18,194

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

    $1,125,897

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

    $76,002

  • 10c · Land, buildings and equipment, net

    beginning of year $1,250,250 · end of year $1,049,895

  • 11 · Investments: publicly traded securities

    beginning of year $8,630,859 · end of year $12,954,813

  • 12 · Investments: other securities

    beginning of year $334,898 · end of year $3,876,551

  • 13 · Investments: program-related

    beginning of year $3,701,400 · end of year $3,887,430

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,266 · end of year $20,675

  • 19 · Deferred revenue

    beginning of year $496,254 · end of year $495,644

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $20,000 · end of year $20,000

  • 25 · Other liabilities

    beginning of year $3,493,113 · end of year $3,462,918

  • 27 · Net assets without donor restrictions

    beginning of year $11,156,374 · end of year $18,428,357

  • 28 · Net assets with donor restrictions

    beginning of year $224,760 · end of year $220,831

Mission and programs · 2022

Mission

The ministry is designed to glorify God in fulfilling biblical stewardship by assisting Christians to accomplish their financial & estate planning goals & by supporting local New Testament churches & associated ministries with financial and governance related matters.

Activities or mission (Part I)

Assisting Christian believers to glorify God through biblical stewardship

  • Rendering donor advised fund and other fund management services to individuals, trusts/estates, and active or dissolved churches/ministries, providing churches and other ministries with corporate governance, and assisting churches with asset dissolution during the year.

    Expenses $3,947,825 · Grants $3,420,842

  • Rendering or paying other vendors to render tax preparation services to individuals (including missionaries, and ministers of the gospel), trusts and estates, and a few charitable organizations.

    Expenses $3,156 · Revenue $33,126

  • Rendering estate planning services (e.g., assistance in the preparation of wills, revocable living trusts, powers of attorney, estate and trust tax returns) and planned giving (e.g., administration of charitable gift annuities and charitable remainder trusts) to clients as well as other ministries' clients during the fiscal year, benefiting many charities besides BSS. Providing donor education through seminars in areas of estate planning and planned giving. There were no expenses associated with this program during the fiscal year, but it remains an active program of the organization.

As filed on the 2022 return.

Listed in Part VII

  • Mark Keller

    Risk Officer

    Total calculated
    $0
    Hours/week
    1

  • Robert Sullivan

    President & CEO

    Total calculated
    $126,658
    From this org
    $108,250
    From related orgs
    $0
    Other
    $18,408
    Hours/week
    40

  • Samuel Thorpe Jr

    Vice Chairman

    Total calculated
    $0
    Hours/week
    0.2

  • Walkter Skip Elliott

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • William Coyle

    Chairman & Assistant Secretary

    Total calculated
    $0
    Hours/week
    2

  • Paul Bonner

    Director

    Total calculated
    $0
    Hours/week
    0.2

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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Trust (5)

    Trust · Trust · IA · controlled entity

    Directly controlled by Believers Stewardship Services Inc

Provenance

Return type
form_990
Tax year
2022
Filed
29 April 2024
IRS schema version
2022v5.0
Source object
202411209349300526

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