LIVING FAITH MINISTRIES INC

EIN: 541375229 501(c)(3) Religion

BRISTOL, VA

Total Revenue
$1,885,437
Total Expenses
$2,025,992
Total Assets
$14,656,587
Net Assets
$14,596,930
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
VA
Principal Officer
MICHAEL SMITH
Phone
2766763806
Tax Period
2023-01-01 to 2023-12-31

LIVING FAITH MINISTRIES INC, founded in 2004, is a community nonprofit in the Religion sector that reported $1.9M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Net assets of $14.6M represent 93 months of operating reserves.

Mission

TO PROVIDE RELIGIOUS AND EDUCATIONAL PROGRAMMING TO MEET THE NEEDS OF THE MEMBERSHIP AND SUPPORTERS OF THE NETWORK.

Program Service Accomplishments

Program 1
Expenses: $1,028,199 Revenue: $1,048,298

1. BROADCASTING THROUGH THE MEDIA OF TELEVISION, PROGRAMMING THAT PROMOTES THE GOSPEL OF JESUS CHRIST.2. PROGRAMMING TO PROMOTE BIBLICAL PRINCIPLES OF THE GOSPEL OF JESUS CHRIST TO HOSPITALS, JAILS...

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1. BROADCASTING THROUGH THE MEDIA OF TELEVISION, PROGRAMMING THAT PROMOTES THE GOSPEL OF JESUS CHRIST.2. PROGRAMMING TO PROMOTE BIBLICAL PRINCIPLES OF THE GOSPEL OF JESUS CHRIST TO HOSPITALS, JAILS AND PRISONS.3. BROADCASTING TO 1.8 MILLION HOMES WITH CHRISTIAN PROGRAMMING, INCLUDING MUSIC, EDUCATION AND TEACHING BIBLICAL PRINCIPLES.

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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 $380,003
Program Service Revenue $1,285,037
Investment Income $211,031
Other Revenue $9,366
TOTAL REVENUE $1,885,437

Expense Breakdown

Grants Paid $0
Salaries & Benefits $654,609
Fundraising Expenses $107,566
Program Expenses $1,028,199
Other Expenses $1,371,383
TOTAL EXPENSES $2,025,992

Year-over-Year Comparison

2023 2022 Change
Revenue $1,885,437 $1,995,667 -0.1%
Expenses $2,025,992 $2,084,554 0.0%
Net Income $-140,555 $-88,887 +0.6%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
2
Employees
12
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
$219,349
Total Directors
5
$219,349
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL D SMITH PRESIDENT/DIRECTOR 50.00
Officer Director
$110,738 $0 $110,738
LISA SMITH V-P & SECRETARY/DIRECTOR 50.00
Officer Director
$108,611 $0 $108,611
JOHN MCCARROLL DIRECTOR 1.00
Director
$0 $0 $0
STEVE JONES DIRECTOR 1.00
Director
$0 $0 $0
HAROLD JONES DIRECTOR 1.00
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 $1,885,437 $2,025,992 $14,656,587 $-140,555
2022 $1,995,667 $2,084,554 $14,865,415 $-88,887
2021 $1,965,023 $2,020,268 $14,913,167 $-55,245
2020 $2,998,597 $1,933,529 $15,068,859 $1,065,068
2019 $4,252,694 $2,264,730 $13,920,553 $1,987,964
2018 $2,159,213 $1,494,694 $12,558,056 $664,519
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