FOUNDATION OF PRAISE

EIN: 237448019 501(c)(3)

ESCONDIDO, CA

Total Revenue
$982,989
Total Expenses
$647,799
Total Assets
$6,247,544
Net Assets
$6,245,134
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
CA
Principal Officer
JOANN THOMAS
Phone
7607412755
Tax Period
2024-01-01 to 2024-12-31

FOUNDATION OF PRAISE, founded in 1974, is a small nonprofit that reported $983K in total revenue in fiscal year 2024. Revenue surged 90% from the prior year, signaling strong growth momentum. The organization ran a surplus of $335K, a strong 34% operating margin.

Mission

PROVIDING INSPIRATIONAL MATERIALS TO MINISTRIES, PRISONS, HOSPITALS, PREGNANCY CENTERS AND THE MILITARY.

Program Service Accomplishments

Program 1
Expenses: $445,915 Revenue: $89,177

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...

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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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $637,233
Program Service Revenue $89,177
Investment Income $252,286
Other Revenue $4,293
TOTAL REVENUE $982,989

Expense Breakdown

Grants Paid $0
Salaries & Benefits $311,867
Fundraising Expenses $56,624
Program Expenses $445,915
Other Expenses $335,932
TOTAL EXPENSES $647,799

Year-over-Year Comparison

2024 2023 Change
Revenue $982,989 $516,558 +0.9%
Expenses $647,799 $639,456 +0.0%
Net Income $335,190 $-122,898 -3.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
N/A
Employees
2
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$176,956
Total Directors
3
$176,956
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOANN THOMAS TREASURER/GM 40.00
Officer Director
$117,580 $9,100 $126,680
BRUCE CAROTHERS SECRETARY 10.00
Officer Director
$13,000 $37,000 $50,000
MARY CAROTHERS PRESIDENT 2.00
Officer Director
$276 $0 $276
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $982,989 $647,799 $6,247,544 $335,190
2023 $516,558 $639,456 $5,831,386 $-122,898
2022 $620,567 $544,387 $5,953,519 $76,180
2021 $739,185 $642,877 $6,352,418 $96,308
2020 $523,377 $450,063 $6,148,101 $73,314
2019 $654,336 $524,130 $6,054,579 $130,206
2018 $654,398 $503,550 $5,452,609 $150,848
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