FRANCIS ASBURY SOCIETY INC

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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

1983

Legal Domicile

Principal Officer

Willis Kierce

Phone

8598584222

Tax Period

2024-01-01 to 2024-12-31

FRANCIS ASBURY SOCIETY INC, founded in 1983, is a small nonprofit that reported $905K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.0M exceeded revenue, resulting in a 12% operating deficit.

Mission

DISSEMINATION OF THE GOSPEL OF JESUS CHRIST THROUGH EVANGELISM, DISCIPLESHIP, MISSIONS, CONFERENCES, AND CHRISTIAN LITERATURE.

Program Service Accomplishments

Program 1

Expenses: $298,641 Revenue: $278,678

EVANGELISTS FRANCIS ASBURY SOCIETY (FAS) EVANGELISTS COME ALONGSIDE ORGANIZATIONS TO LEAD EVANGELISTIC AND RENEWAL MINISTRIES. THEY EMBRACE WESLEYAN-HOLINESS THEOLOGY, MODEL A GODLY LIFESTYLE, SPREAD GOD'S LIFE-CHANGING MESSAGE, AND POSSESS REPUTATIONS AS QUALITY SPEAKERS. EXPENSES INCLUDE SALARY & STIPEND PAYMENTS TO EVANGELISTS, TRAVEL AND MEAL REIMBURSEMENTS, AS WELL AS GATHERING OF OUR FAS EVANGELISTS AND PROMISING YOUNG EVANGELISTS WHOM WE MENTOR.

Program 2

Expenses: $202,294 Revenue: $206,515

DISCIPLESHIP FAS IS COMMITTED TO CONNECTING LIKE-MINDED CHRISTIANS IN COVENANT RELATIONSHIPS, THEOLOGICAL REFLECTION AND SPIRITUAL RENEWAL. FAS COVENANT FELLOWSHIP IS COMPRISED OF CHRISTIANS WHO ARE COMMITTED TO MAINTAINING PURITY OF HEART AND A LIFE OF HOLINESS. THE DISCIPLESHIP MINISTRY ALSO INCLUDES TITUS WOMEN (A WOMEN'S MINISTRY) AND A WEEKLY BIBLE STUDY. IN ADDITION, FAS SPONSORS RETREATS AND CONFERENCES THROUGHOUT THE YEAR WHICH PROMOTE FAS'S VISION AND MESSAGE.

Program 3

Expenses: $133,261 Revenue: $277,834

PUBLISHING IN KEEPING WITH THE MISSION OF FAS TO SPREAD SCRIPTURAL HOLINESS AROUND THE WORLD, THE PUBLISHING MINISTRY PRODUCES A VARIETY OF WRITTEN AND AUDIO-VISUAL RESOURCES. TOPICS FOCUS ON...

PUBLISHING IN KEEPING WITH THE MISSION OF FAS TO SPREAD SCRIPTURAL HOLINESS AROUND THE WORLD, THE PUBLISHING MINISTRY PRODUCES A VARIETY OF WRITTEN AND AUDIO-VISUAL RESOURCES. TOPICS FOCUS ON ACADEMIC, DISCIPLESHIP, AND BIOGRAPHICAL/TESTIMONIAL THEMES. IN 2024, 5800 BOOKS/PAMPHLETS/CD-DVD SETS WERE SOLD, AND OUR INVENTORY WAS SOLD AT MANY VENUES BOTH ON-LINE AND AROUND THE COUNTRY.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $698,391

Program Service Revenue $30,586

Investment Income $90,299

Other Revenue $85,479

TOTAL REVENUE $904,755

Expense Breakdown

Grants Paid $1,000

Salaries & Benefits $637,967

Fundraising Expenses $67,435

Program Expenses $779,088

Other Expenses $375,874

TOTAL EXPENSES $1,014,841

Year-over-Year Comparison

	2024	2023	Change
Revenue	$904,755	$826,554	+0.1%
Expenses	$1,014,841	$988,613	+0.0%
Net Income	$-110,086	$-162,059	-0.3%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$84,262

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIS KIERCE	PRESIDENT	40	Officer	$33,000	$18,000	$51,000
GARY AVERS	TREASURER	32	Officer	$33,262	$0	$33,262
CHRIS BOUNDS	BOARD CHAIR	0.5	Officer Director	$0	$0	$0
JOY GRIFFIN	BOARD VICE-CHAIR	0.5	Officer Director	$0	$0	$0
DENNIS KINLAW	BOARD SECRETARY	0.5	Officer Director	$0	$0	$0
CHERYLL JOHNSON	BOARD MEMBER	0.5	Director	$0	$0	$0
ANN KELLY	BOARD MEMBER	0.5	Director	$0	$0	$0
STEVE LUCE	BOARD MEMBER	0.5	Director	$0	$0	$0
JAY MCCANTS	BOARD MEMBER	0.5	Director	$0	$0	$0
ANDY MILLER	BOARD MEMBER	0.5	Director	$0	$0	$0
MICHAEL TIPTON	BOARD MEMBER	0.5	Director	$0	$0	$0
PHIL VEATCH	BOARD MEMBER	0.5	Director	$0	$0	$0
JERALD WALZ	BOARD MEMBER	0.5	Director	$0	$0	$0
HARVEY WILLIAMSON	BOARD MEMBER	0.5	Director	$0	$0	$0

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	$904,755	$1,014,841	$3,469,755	$-110,086
2023	$826,554	$988,613	$3,478,749	$-162,059
2022	$780,051	$1,056,493	$3,460,216	$-276,442
2021	$980,167	$966,094	$3,958,534	$14,073
2020	$698,343	$738,338	$3,845,535	$-39,995
2019	$665,077	$724,214	$3,732,357	$-59,137
2018	$814,468	$732,131	$3,626,981	$82,337