Nonprofit · EIN 23-7448019
FOUNDATION OF PRAISE INCORPORATED
Tax-exempt · ESCONDIDO, CA 92033
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $982,989 | $647,799 | $335,190 | $6,247,544 | $2,410 | $6,245,134 |
| December 31, 2023 | 990 | $516,558 | $639,456 | -$122,898 | $5,831,386 | $2,410 | $5,828,976 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $637,233
- Program service revenue
- $89,177
- Investment income
- $252,286
- Royalties
- $4,293
- Net gain from sales of assets
- -$8,290
- Other revenue
- $4,293
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $176,956
- Other salaries and wages
- $84,573
- Salaries, compensation and benefits (total)
- $311,867
- Professional fundraising fees
- $0
- Accounting fees
- $2,278
- Occupancy
- $27,967
- Depreciation
- $25,246
- Program services (functional)
- $445,915
- Management and general (functional)
- $145,260
- Fundraising (functional)
- $56,624
Balance sheet and other
- Total assets, start of year
- $5,831,386
- Total assets, end of year
- $6,247,544
- Total liabilities, end of year
- $2,410
- Net assets, end of year
- $6,245,134
- Land, buildings and equipment
- $405,870
- Publicly traded securities
- $5,601,004
- Gross receipts
- $1,603,086
- Employees
- 2
- Volunteers
- 0
- Year formed
- 1974
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOANN THOMAS | TREASURER/GM Trustee or director, Officer | 40 | $117,580 | $9,100 |
| BRUCE CAROTHERS | SECRETARY Trustee or director, Officer | 10 | $13,000 | $37,000 |
| MARY CAROTHERS | PRESIDENT Trustee or director, Officer | 2 | $276 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOANN THOMAS | TREASURER/GM Trustee or director, Officer | 40 | $122,084 | $8,988 |
| BRUCE CAROTHERS | SECRETARY Trustee or director, Officer | 8 | $13,000 | $33,430 |
| MARY CAROTHERS | PRESIDENT Trustee or director, Officer | 2 | $552 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2518, ESCONDIDO, CA 92033-2518
- Principal officer (990 for 2024)
- JOANN THOMAS, PO BOX 2518, ESCONDIDO, CA 92033
- Signed the 990
- BRUCE CAROTHERS, SECRETARY
- Phone
- (760) 741-2755
- Website
- WWW.FOUNDATIONOFPRAISE.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
California records
California keeps its own records of charities and corporations. Search them by EIN 23-7448019 or by the name FOUNDATION OF PRAISE INCORPORATED.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
PROVIDING INSPIRATIONAL MATERIALS TO MINISTRIES, PRISONS, HOSPITALS, PREGNANCY CENTERS AND THE MILITARY.
Program accomplishments
- PROVIDING INSPIRATIONAL MATERIALS TO MINISTRIES, PRISONS, HOSPITALS, PREGNANCY CENTERS AND THE MILITARY. RESPOND TO MANY CALLS AND OTHER CORRESPONDENCE REQUESTING PRAYER AND SUPPORT FROM INDIVIDUALS AND PRISON INMATES.Expenses $445,915 · revenue $89,177
What it must file and when
IRS records say it files Not required (church). Churches are not required to file. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7448019
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Church
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1982
- Accounting year ends
- December
- Files
- Not required (church)
- Assets (IRS master file)
- $6,247,544
- Income (IRS master file)
- $1,603,086
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $982,989 | $647,799 | $6,247,544 | XML |
| 990 | December 2023 | $516,558 | $639,456 | $5,831,386 | XML |
| 990 | December 2022 | $620,567 | $544,387 | $5,953,519 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7448019).
Questions about FOUNDATION OF PRAISE INCORPORATED
- What is the EIN of FOUNDATION OF PRAISE INCORPORATED?
- The employer identification number (EIN) of FOUNDATION OF PRAISE INCORPORATED is 23-7448019.
- Is FOUNDATION OF PRAISE INCORPORATED tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to FOUNDATION OF PRAISE INCORPORATED tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION OF PRAISE INCORPORATED file?
- Form Not required (church). Churches are not required to file.
- When is the next return of FOUNDATION OF PRAISE INCORPORATED due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDATION OF PRAISE INCORPORATED last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDATION OF PRAISE INCORPORATED?
- The 990 for the year ended December 31, 2024 names JOANN THOMAS.
- Who are the officers and directors of FOUNDATION OF PRAISE INCORPORATED?
- The 990 for the year ended December 31, 2024 lists 3 people; 3 received compensation from the organization, the highest $117,580 (JOANN THOMAS, TREASURER/GM).
- How much revenue does FOUNDATION OF PRAISE INCORPORATED have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $982,989, expenses of $647,799 and total assets of $6,247,544 at year end.
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