Civic Intelligence

Baptist Foundation of New England

EIN 04-3232388 • 501(c)3 • Northborough, MA

Profile

The BFNE furthers Gospel work in New England by accepting donations for strengthening Baptist churches and ministries. It manages assets financial investments and using the proceeds to support New England Baptist churches and ministries.

87 Lincoln StreetNorthborough, MA 01532

www.bcne.net/bfne

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

95th percentile

76%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

74th percentile

15%

Faster asset growth than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

7.1%

Faster revenue growth than 50% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$3,392,824

Up $451,849 (+15%) from 2020

Liabilities

Down

$0

Down $5,000 (-100%) from 2020

Net Assets

Up

$3,392,824

Up $456,849 (+16%) from 2020

Revenue

Up

$587,163

Up $38,742 (+7.1%) from 2020

Expenses

Down

$141,558

Down $21,955 (-13%) from 2020

Net Income

Up

$445,605

Up $60,697 (+16%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $925,065Liabilities 2010: $108,788Net Assets 2010: $816,2772010Assets 2011: $1,153,366Liabilities 2011: $323,117Net Assets 2011: $830,2492011Assets 2013: $1,318,520Liabilities 2013: $328,921Net Assets 2013: $989,5992013Assets 2014: $1,394,062Liabilities 2014: $341,655Net Assets 2014: $1,052,4072014Assets 2015: $1,393,599Liabilities 2015: $337,143Net Assets 2015: $1,056,4562015Assets 2016: $1,394,371Liabilities 2016: $120,611Net Assets 2016: $1,273,7602016Assets 2017: $1,445,245Liabilities 2017: $6,000Net Assets 2017: $1,439,2452017Assets 2018: $2,197,304Liabilities 2018: $64,149Net Assets 2018: $2,133,1552018Assets 2019: $2,608,858Liabilities 2019: $78,097Net Assets 2019: $2,530,7612019Assets 2020: $2,940,975Liabilities 2020: $5,000Net Assets 2020: $2,935,9752020Assets 2021: $3,392,824Liabilities 2021: $0Net Assets 2021: $3,392,8242021

Highlighted filing

2021

Assets$3,392,824
Liabilities$0
Net Assets$3,392,824

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2010: $48,047Expenses 2010: $2,001Net Income 2010: $46,0462010Revenue 2011: $15,269Expenses 2011: $2,000Net Income 2011: $13,2692011Revenue 2013: $83,042Expenses 2013: $0Net Income 2013: $83,0422013Revenue 2014: $54,913Expenses 2014: $2,000Net Income 2014: $52,9132014Revenue 2015: $30,342Expenses 2015: $2,000Net Income 2015: $28,3422015Revenue 2016: $31,596Expenses 2016: $2,059Net Income 2016: $29,5372016Revenue 2017: $48,271Expenses 2017: $44,700Net Income 2017: $3,5712017Revenue 2018: $60,745Expenses 2018: $58,814Net Income 2018: $1,9312018Revenue 2019: $88,876Expenses 2019: $118,688Net Income 2019: -$29,8122019Revenue 2020: $548,421Expenses 2020: $163,513Net Income 2020: $384,9082020Revenue 2021: $587,163Expenses 2021: $141,558Net Income 2021: $445,6052021

Highlighted filing

2021

Revenue$587,163
Expenses$141,558
Net Income$445,605

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 3, 2022
Return Version
2021v4.0
Gross Receipts
$587,163
Mission and Program Overview

Mission

The BFNE furthers Gospel work in New England by accepting donations for strengthening Baptist churches and ministries. It manages assets financial investments and using the proceeds to support New England Baptist churches and ministries.

Providing grants and financial support to Baptist Churches and ministries in New England. Management of Investments on behalf of and making interest bearing loans to affiliated churches.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$2,069,479$2,610,109▲ $540,630
Other Notes and Loans Receivable, Net$543,578$611,144▲ $67,566
Cash and Non-Interest-Bearing Accounts$327,918$171,571▼ $156,347
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,940,975$3,392,824▲ $451,849
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$5,000--
Total Liabilities$5,000$0▼ $5,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,935,975$3,392,824▲ $456,849
Total Net Assets Fund Balance$2,935,975$3,392,824▲ $456,849
Total Liabilities and Net Assets / Fund Balance$2,940,975$3,392,824▲ $451,849
Compensation and Service Providers

Board Members and Trustees

NameTitle
Diane MiersDirector
Jesse SmithDirector
Kelsey PresleyDirector
Merrill ThomasDirector
Rick GoodenoughDirector
Russel DimmickDirector
Stephen DerrickDirector
Steve AkinsolaDirector
Sweyden DibbleDirector
Wanda Reyes-DawesDirector
Terry DorsettExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$316,747
Investment Income
$270,416
Other Revenue
$0
Change in Net Assets
$445,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$141,558
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$121,369$20,189-$141,558
Total Functional Expenses$121,369$20,189$0$141,558
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Baptist Foundation of New England
EIN
04-3232388
Phone
5083936013
Address
87 Lincoln Street, Northborough, MA 01532

Signing Officer

Name
Dr Terry Dorsett
Title
Executive Director
Signed
2022-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Terry Dorsett
Formed
1976
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
50

Preparer

Firm
WD OConnell CPA
Address
12321 Brittany Ln, Cedarville, AR 72932
Preparer
William OConnell
Phone
8778233101
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Dr Terry Dorsett
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-03
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ReturnHeader/Filer/BusinessNameControlTxt0BAPT
ReturnHeader/Filer/EIN0043232388
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cedarville
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ReturnHeader/ReturnTs02022-11-03T08:12:24-07:00
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ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Dr Terry
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Dorsett
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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