THE TIMOTHY INITIATIVE INC

EIN: 800472803 501(c)(3) Religion

RALEIGH, NC

Total Revenue
$22,662,705
Total Expenses
$21,741,453
Total Assets
$28,387,864
Net Assets
$27,322,611
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
FL
Principal Officer
JARED NELMS
Phone
9197615760
Tax Period
2023-01-01 to 2023-12-31

THE TIMOTHY INITIATIVE INC, founded in 2009, is a mid-sized nonprofit in the Religion sector that reported $22.7M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $21.7M left a modest 4% surplus.

Mission

THE TIMOTHY INITIATIVE EXISTS TO ADVANCE CHRIST'S KINGDOM BY MULTIPLYING DISCIPLES AND DISCIPLE MAKING CHURCHES AROUND THE WORLD.

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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 $21,756,188
Program Service Revenue $0
Investment Income $0
Other Revenue $906,517
TOTAL REVENUE $22,662,705

Expense Breakdown

Grants Paid $2,093,504
Salaries & Benefits $5,567,876
Fundraising Expenses $1,699,705
Program Expenses $18,823,165
Other Expenses $14,080,073
TOTAL EXPENSES $21,741,453

Year-over-Year Comparison

2023 2022 Change
Revenue $22,662,705 $18,484,088 +0.2%
Expenses $21,741,453 $17,649,893 +0.2%
Net Income $921,252 $834,195 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
8
Employees
52
Volunteers
225

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
4
$525,937
Total Directors
10
$559,270
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JARED NELMS CEO & PRESID 40.00
Officer Director
$210,531 $63,894 $274,425
DAVID NELMS FOUNDER 40.00
Officer Director
$226,651 $24,861 $251,512
JUSTIN SOGOIAN CHIEF DEVEL 40.00
Highest
$164,189 $59,397 $223,586
SCOTT RIDOUT COO 40.00
Highest
$112,591 $95,888 $208,479
FREGY JOHN INT'L MINIST 40.00
Highest
$115,346 $27,305 $142,651
ANDRE HARRIOTT INT'L OPERAT 40.00
Highest
$112,846 $21,816 $134,662
JEFF FORESTER BOARD CHAIR 5.00
Director
$0 $33,333 $33,333
MALCOLM CARTER DIRECTOR 5.00
Director
$0 $0 $0
JONATHAN FALWELL DIRECTOR 5.00
Director
$0 $0 $0
DON KELLY TREASURER 5.00
Officer Director
$0 $0 $0
LESLIE KELLY DIRECTOR 5.00
Director
$0 $0 $0
SWEETLIN MANOHARAN DIRECTOR 5.00
Director
$0 $0 $0
ALAN POENITSKE DIRECTOR 5.00
Director
$0 $0 $0
KATHY ROBERTSON SECRETARY 5.00
Officer 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
2023 $22,662,705 $21,741,453 $28,387,864 $921,252
2022 $18,484,088 $17,649,893 $26,997,979 $834,195
2021 $20,418,173 $9,871,764 $25,869,697 $10,546,409
2020 $13,992,538 $7,680,899 $15,354,297 $6,311,639
2019 $9,185,239 $6,311,197 $8,784,706 $2,874,042
2018 $6,227,560 $4,433,788 $5,948,956 $1,793,772
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