Civic Intelligence

242 Network Inc

990 • Fiscal year 2023 • EIN 47-1706045

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 30, 2024

Organization ProfileWWW.242NETWORK.COM
225 Golden Pond DrColdwater, MS 38618

(662) 429-4436

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.02x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

68th percentile

15%

Higher net margin than 68% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

85th percentile

50%

Faster asset growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

29%

Faster revenue growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$142,826

Up $47,708 (+50%) from 2022

Net Assets

Up

$138,434

Up $44,436 (+47%) from 2022

Liabilities

Up

$4,392

Up $3,272 (+292%) from 2022

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin68th percentile

Revenue

Up

$291,504

Up $66,273 (+29%) from 2022

Expenses

Up

$247,068

Up $68,576 (+38%) from 2022

Net Income

Down

$44,436

Down $2,303 (-4.9%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200K$150K$100K$50K$0Assets 2021: $48,165Liabilities 2021: $907Net Assets 2021: $47,2582021Assets 2022: $95,118Liabilities 2022: $1,120Net Assets 2022: $93,9982022Assets 2023: $142,826Liabilities 2023: $4,392Net Assets 2023: $138,4342023Assets 2024: $172,900Liabilities 2024: $2,153Net Assets 2024: $170,7472024

Highlighted filing

2023

Assets$142,826
Liabilities$4,392
Net Assets$138,434
Open 2023 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2021: $127,850Expenses 2021: $133,059Net Income 2021: -$5,2092021Revenue 2022: $225,231Expenses 2022: $178,492Net Income 2022: $46,7392022Revenue 2023: $291,504Expenses 2023: $247,068Net Income 2023: $44,4362023Revenue 2024: $290,256Expenses 2024: $257,943Net Income 2024: $32,3132024

Highlighted filing

2023

Revenue$291,504
Expenses$247,068
Net Income$44,436
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 30, 2024
Return Version
2023v5.0
Gross Receipts
$291,504
Mission and Program Overview

Mission

The 242 network is a church planting network that is leveraging resources in a disengaged culture to multiply healthy churches. In accordance with this mission, the 242 network seeks to bring glory to god through kingdom relationships with individuals and churches who share in our unique biblical calling to see healthy church planters'develop and cultivate healthy churches.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$95,118$142,826▲ $47,708
Total Assets$95,118$142,826▲ $47,708
Liabilities
Other Liabilities$1,120$4,392▲ $3,272
Total Liabilities$1,120$4,392▲ $3,272
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,998$138,434▲ $44,436
Total Net Assets Fund Balance$93,998$138,434▲ $44,436
Total Liabilities and Net Assets / Fund Balance$95,118$142,826▲ $47,708
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Greg BelserPresident
Paul BarnardOfficer
Guy BurkeSecretary
Jason FordTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$290,461
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,043
All Other Contributions
$290,461
Change in Net Assets
$44,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$142,874
Other Expenses$104,194
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$142,045--$142,045
Conferences and Meetings$40,692--$40,692
All Other Expenses$8,208--$8,208
Advertising$7,714--$7,714
Other Expenses$4,506--$4,506
Office Expenses$3,218--$3,218
Payroll Taxes$829--$829
Total Functional Expenses$247,068$0$0$247,068
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards Payable$3,210
Payroll Liabilities$1,182
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
242 Network Inc
EIN
47-1706045
Phone
6624294436
Address
225 GOLDEN POND DR, COLDWATER, MS 38618

Signing Officer

Name
Kathryn Mayo
Title
Financial Secretary
Phone
6624037980
Signed
2024-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Belser
Legal Domicile
Ms
Voting Board Members
4
Independent Board Members
4
Employees
15

Preparer

Firm
Williams Pitts & Beard Pllc
Address
2042 MCINGVALE RD STE A, HERNANDO, MS 38632-8706
Preparer
Corinna May
Phone
6624294436
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The 242 network is a church planting network that is leveraging resources in a disengaged culture to multiply healthy churches. In accordance with this mission, the 242 network seeks to bring glory to god through kingdom relationships with individuals and churches who share in our unique biblical calling to see healthy church planters'develop and cultivate healthy churches.”

Raw XML Appendix286 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 242 NETWORK IS A CHURCH PLANTING NETWORK THAT IS LEVERAGING RESOURCES IN A DISENGAGED CULTURE TO MULTIPLY HEALTHY CHURCHES. IN ACCORDANCE WITH THIS MISSION, THE 242 NETWORK SEEKS TO BRING GLORY TO GOD THROUGH KINGDOM RELATIONSHIPS WITH INDIVIDUALS AND CHURCHES WHO SHARE IN OUR UNIQUE BIBLICAL CALLING TO SEE HEALTHY CHURCH PLANTERS'DEVELOP AND CULTIVATE HEALTHY CHURCHES.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/Filer/PhoneNum06624294436
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ReturnHeader/PreparerPersonGrp/PhoneNum06624294436
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CORINNA MAY
ReturnHeader/ReturnTs02024-05-06T12:01:49-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KATHRYN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MAYO
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$142,826
Liabilities
$4,392
Net assets
$138,434
Revenue
$291,504
Expenses
$247,068
Net income
$44,436
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.73$0.02$1.71$2.90$2.58$0.32
2023Detailed filing. Detailed filing data is available for this year.$1.43$0.04$1.38$2.92$2.47$0.44
2022Detailed filing. Detailed filing data is available for this year.$0.95$0.01$0.94$2.25$1.78$0.47
2021Detailed filing. Detailed filing data is available for this year.$0.48$0.01$0.47$1.28$1.33$0.05