FREE WILL BAPTIST CHILDREN'S HOME INC

EIN: 560636251 501(c)(3)

MIDDLESEX, NC

Total Revenue
$5,215,477
Total Expenses
$5,094,894
Total Assets
$18,565,313
Net Assets
$17,571,832
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1920
Legal Domicile
NC
Principal Officer
GARY LEE
Phone
2522352161
Tax Period
2024-07-01 to 2025-06-30

FREE WILL BAPTIST CHILDREN'S HOME INC, founded in 1920, is a community nonprofit that reported $5.2M in total revenue in fiscal year 2024. Net assets of $17.6M represent 40 months of operating reserves.

Mission

FREE WILL BAPTIST CHILDREN'S HOME IS CALLED TO PROVIDE A NURTURING ENVIRONMENT TO PROMOTE THE SPIRITUAL, EMOTIONAL, EDUCATIONAL AND PHYSICAL WELL-BEING OF CHILDREN, YOUTH AND FAMILIES.

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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 $3,954,468
Program Service Revenue $194,504
Investment Income $704,448
Other Revenue $362,057
TOTAL REVENUE $5,215,477

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,961,518
Fundraising Expenses $289,935
Program Expenses $3,839,376
Other Expenses $2,133,376
TOTAL EXPENSES $5,094,894

Year-over-Year Comparison

2024 2023 Change
Revenue $5,215,477 $4,933,858 +0.1%
Expenses $5,094,894 $4,780,364 +0.1%
Net Income $120,583 $153,494 -0.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
96
Volunteers
12

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
5
$194,945
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHNNY SULLIVAN CHAIRPERSON 1.00
Officer Director
$0 $0 $0
SHERRY ASKEW SECRETARY 1.00
Officer Director
$0 $0 $0
LAURA BUDDIN ASSISTANT SECRETARY 1.00
Officer Director
$0 $0 $0
PAMELA BRAXTON BOARD MEMBER 1.00
Director
$0 $0 $0
JUDY ROBERSON BOARD MEMBER 1.00
Director
$0 $0 $0
ERIC NARRON BOARD MEMBER 1.00
Director
$0 $0 $0
KATHERINE ALPHIN BOARD MEMBER 1.00
Director
$0 $0 $0
DUANE CASEY MEMBER AT LARGE 1.00
Director
$0 $0 $0
GARY FAIRCLOTH BOARD MEMBER 1.00
Director
$0 $0 $0
TODD SUTTON BOARD MEMBER 1.00
Director
$0 $0 $0
JOSH WHITFIELD VICE-CHAIRPERSON 1.00
Officer Director
$0 $0 $0
ASHLEY RODRIGUEZ BOARD MEMBER 1.00
Director
$0 $0 $0
GARY LEE PRESIDENT/CEO 40.00
Officer
$154,400 $40,545 $194,945
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
2025 $5,215,477 $5,094,894 $18,565,313 $120,583
2024 $4,933,858 $4,780,364 $18,177,835 $153,494
2023 $5,960,482 $4,285,386 $17,646,906 $1,675,096
2022 $5,607,581 $3,919,604 $15,140,197 $1,687,977
2021 $4,909,907 $3,664,304 $14,629,244 $1,245,603
2020 $3,853,738 $3,411,895 $12,356,674 $441,843
2019 $3,656,879 $3,153,493 $11,574,354 $503,386
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