INNERLIGHT MINISTRIES INC

EIN: 351860686 501(c)(3) Religion

INDIANAPOLIS, IN

Total Revenue
$400,123
Total Expenses
$424,014
Total Assets
$713,331
Net Assets
$637,419
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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
1992
Legal Domicile
IN
Principal Officer
PHILIP FOLEY
Phone
3177843110
Tax Period
2023-01-01 to 2023-12-31

INNERLIGHT MINISTRIES INC, founded in 1992, is a small nonprofit in the Religion sector that reported $400K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year.

Mission

MAIN PURPOSE IS TO SPREAD CHRISTIANITY THIS IS ACCOMPLISHED AT CONCERTS, SPEAKING ENGAGEMENTS, AND INTERACTION WITH THE PUBLIC.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $398,521
Investment Income $1,602
Other Revenue $0
TOTAL REVENUE $400,123

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,105
Fundraising Expenses $0
Program Expenses $374,931
Other Expenses $416,909
TOTAL EXPENSES $424,014

Year-over-Year Comparison

2023 2022 Change
Revenue $400,123 $464,931 -0.1%
Expenses $424,014 $348,673 +0.2%
Net Income $-23,891 $116,258 -1.2%
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
5
Independent Members
3
Employees
1
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
2
$6,600
Total Directors
5
$6,600
Key Employees
2
$6,600
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PHILIP FOLEY MINISTER 60.00
Officer Director Key Emp
$0 $0 $0
RHONDA FOLEY DIRECTOR 50.00
Officer Director Key Emp
$6,600 $0 $6,600
JOHN GREENGOSS DIRECTOR 2.00
Director
$0 $0 $0
JOHN B ONEAL DIRECTOR 2.00
Director
$0 $0 $0
JACK CHRISTY DIRECTOR 4.00
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 No data No data No data No data
2023 $400,123 $424,014 $713,331 $-23,891
2022 $464,931 $348,673 $724,635 $116,258
2021 $433,689 $337,025 $595,157 $96,664
2020 $269,079 $269,603 $505,071 $-524
2019 $317,020 $329,199 $488,542 $-12,179
2018 $319,712 $352,662 $488,320 $-32,950
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