Nonprofit · EIN 65-0243661
FOUNDERS MINISTRIES INC
Tax-exempt · CAPE CORAL, FL 33991
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,376,521 | $1,955,645 | -$579,124 | $1,269,573 | $52,313 | $1,217,260 |
| December 31, 2023 | 990 | $1,703,071 | $1,445,898 | $257,173 | $1,856,528 | $67,406 | $1,789,122 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $627,251
- Program service revenue
- $662,339
- Investment income
- $13,739
- Royalties
- $73,192
- Other revenue
- $73,192
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $95,500
- Other salaries and wages
- $316,904
- Salaries, compensation and benefits (total)
- $458,157
- Professional fundraising fees
- $0
- Legal fees
- $4,083
- Accounting fees
- $33,160
- Occupancy
- $26,204
- Travel
- $7,036
- Depreciation
- $4,958
- Program services (functional)
- $1,577,805
- Management and general (functional)
- $377,840
Balance sheet and other
- Total assets, start of year
- $1,856,528
- Total assets, end of year
- $1,269,573
- Total liabilities, end of year
- $52,313
- Net assets, end of year
- $1,217,260
- Land, buildings and equipment
- $118,012
- Publicly traded securities
- $138,516
- Gross receipts
- $1,376,521
- Employees
- 11
- Year formed
- 1990
- State of legal domicile
- FL
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 |
|---|---|---|---|
| Chris Faro | Exec. Director | 40 | $110,333 |
| Kerry Regnier | Director of Admin | 40 | $107,000 |
| Thomas K Ascol | President Trustee or director, Officer | 40 | $92,500 |
| Voddie Baucham | Director Trustee or director | 1 | $3,000 |
| Travis Allen | Chairman Trustee or director, Officer | 1 | $0 |
| Bill Ascol | Secretary Trustee or director, Officer | 1 | $0 |
| William Willcutts | Director Trustee or director | 1 | $0 |
| Jason Glas | Director Trustee or director | 1 | $0 |
| Don Kiah | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Thomas K Ascol | President Trustee or director, Officer | 40 | $90,000 |
| Travis Allen | Chairman Trustee or director, Officer | 1 | $0 |
| Bill Ascol | Secretary Trustee or director, Officer | 1 | $0 |
| Voddie Baucham | Director Trustee or director | 1 | $0 |
| William Willcutts | Director Trustee or director | 1 | $0 |
| Jason Glas | Director Trustee or director | 1 | $0 |
| Chris Faro | Director Trustee or director | 1 | $0 |
| Don Kiah | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1303 CEITUS TER, CAPE CORAL, FL 33991-1415
- Principal officer (990 for 2024)
- Thomas K Ascol, PO BOX 150931, Cape Coral, FL 33915
- Signed the 990
- Thomas K Ascol, President
- Phone
- (888) 525-1689
- Return prepared by
- Dime Accounting LLC
Mission
PROCLAIM THE GOSPEL OF JESUS CHRIST THROUGH A MINISTRY OF TEACHING AND ENCOURAGEMENT PROMOTING BOTH DOCTRINE AND DEVOTION EXPRESSED IN THE DOCTRINES OF GRACE AND THEIR EXPERIENTIAL APPLICATION TO THE LOCAL CHURCH, PARTICULARLY IN THE AREAS OF WORSHIP AND WITNESS.
Program accomplishments
- General and back end program service costs split across multiple core service areas.Expenses $473,344
- FOUNDERS PUBLICATIONS SOLD ON SUBSCRIPTION BASIS AND DIRECT SALES OF BOOKS, CDS & DVDS. A WEEKLY PODCAST IS ALSO AVAILABLE.Expenses $418,462 · revenue $395,714
- STUDY CENTER PROVIDED COURSES, RESOURCES, AND TRAINING MATERIALS FOR THOSE IN MINISTRY OR PURSUING THE MINISTRY OF THE GOSPEL.Expenses $360,642 · revenue $36,550
- NATIONAL & REGIONAL CONFERENCES - PROVIDED SUPPORT FOR TWO REGIONAL CONFERENCES AND MAINTAINED EXHIBITS AT THREE NATIONAL CONFERENCES.Expenses $325,357 · revenue $230,075
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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
- 65-0243661
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,269,573
- Income (IRS master file)
- $1,376,521
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,376,521 | $1,955,645 | $1,269,573 | IRS |
| 990 | December 2023 | $1,703,071 | $1,445,898 | $1,856,528 | XML |
| 990 | December 2022 | $1,432,586 | $1,130,889 | $1,590,726 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | 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 65-0243661).
Questions about FOUNDERS MINISTRIES INC
- What is the EIN of FOUNDERS MINISTRIES INC?
- The employer identification number (EIN) of FOUNDERS MINISTRIES INC is 65-0243661.
- Is FOUNDERS MINISTRIES INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
- Are donations to FOUNDERS MINISTRIES INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDERS MINISTRIES INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDERS MINISTRIES INC 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 FOUNDERS MINISTRIES INC 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 FOUNDERS MINISTRIES INC?
- The 990 for the year ended December 31, 2024 names Thomas K Ascol.
- Who are the officers and directors of FOUNDERS MINISTRIES INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 4 received compensation from the organization, the highest $110,333 (Chris Faro, Exec. Director).
- How much revenue does FOUNDERS MINISTRIES INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,376,521, expenses of $1,955,645 and total assets of $1,269,573 at year end.
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