Civic Intelligence

Free Will Baptist Press Foundation Inc.

990 • Fiscal year 2021 • EIN 56-0554224

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 20, 2021

3928 Lee StAyden, NC 28513

(252) 746-6128

Siviq Scores

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

Liabilities / Assets

88th percentile

0.73x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • NTEE X • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

0.67x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • NTEE X • $500k-$1M nonprofits • Source year 2021

Net Margin

18th percentile

-5.6%

Higher net margin than 18% of similar nonprofits.

2021 filings • NTEE X • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

80th percentile

$52,800

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 13.2% of source-year revenue.

2021 filings • NTEE X • $500k-$1M nonprofits • Source year 2021

Asset Growth

10th percentile

-17%

Faster asset growth than 10% of similar nonprofits.

2021 filings • NTEE X • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

30th percentile

1.2%

Faster revenue growth than 30% of similar nonprofits.

2021 filings • NTEE X • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Down

$363,159

Down $76,649 (-17%) from 2020

Net Assets

Down

$96,254

Down $22,276 (-19%) from 2020

Liabilities

Down

$266,905

Down $54,373 (-17%) from 2020

Revenue

Up

$399,850

Up $4,840 (+1.2%) from 2020

Expenses

Up

$422,124

Up $4,140 (+1.0%) from 2020

Net Income

Up

-$22,274

Up $700 (+3.0%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2014: $481,605Liabilities 2014: $546,783Net Assets 2014: -$65,1782014Assets 2015: $359,099Liabilities 2015: $531,776Net Assets 2015: -$172,6772015Assets 2016: $315,988Liabilities 2016: $393,820Net Assets 2016: -$77,8322016Assets 2017: $350,980Liabilities 2017: $342,751Net Assets 2017: $8,2292017Assets 2018: $539,522Liabilities 2018: $430,910Net Assets 2018: $108,6122018Assets 2019: $530,416Liabilities 2019: $388,911Net Assets 2019: $141,5052019Assets 2020: $439,808Liabilities 2020: $321,278Net Assets 2020: $118,5302020Assets 2021: $363,159Liabilities 2021: $266,905Net Assets 2021: $96,2542021Assets 2022: $381,815Liabilities 2022: $218,998Net Assets 2022: $162,8172022Assets 2023: $431,504Liabilities 2023: $183,476Net Assets 2023: $248,0282023Assets 2024: $411,709Liabilities 2024: $56,807Net Assets 2024: $354,9022024Assets 2025: $534,535Liabilities 2025: $103,307Net Assets 2025: $431,2282025

Highlighted filing

2021

Assets$363,159
Liabilities$266,905
Net Assets$96,254

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $1,325,633Expenses 2014: $1,371,825Net Income 2014: -$46,1922014Revenue 2015: $1,171,182Expenses 2015: $1,278,681Net Income 2015: -$107,4992015Revenue 2016: $1,047,794Expenses 2016: $953,449Net Income 2016: $94,3452016Revenue 2017: $1,119,902Expenses 2017: $1,011,339Net Income 2017: $108,5632017Revenue 2018: $538,050Expenses 2018: $437,667Net Income 2018: $100,3832018Revenue 2019: $519,921Expenses 2019: $487,028Net Income 2019: $32,8932019Revenue 2020: $395,010Expenses 2020: $417,984Net Income 2020: -$22,9742020Revenue 2021: $399,850Expenses 2021: $422,124Net Income 2021: -$22,2742021Revenue 2022: $471,357Expenses 2022: $404,797Net Income 2022: $66,5602022Revenue 2023: $488,712Expenses 2023: $403,501Net Income 2023: $85,2112023Revenue 2024: $548,651Expenses 2024: $441,777Net Income 2024: $106,8742024Revenue 2025: $493,221Expenses 2025: $416,895Net Income 2025: $76,3262025

Highlighted filing

2021

Revenue$399,850
Expenses$422,124
Net Income-$22,274
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 20, 2021
Return Version
2020v4.0
Gross Receipts
$907,673
Mission and Program Overview

Mission

The organization operates to provide low cost printed religious materials to churches in the original free will baptist convention as well as to the convention itself, sunday school groups, ofwb ministires and other organizations and inviduals for use in religious activities.

The organization operates to provide low cost printed religious materials to churches in the original free will baptist convention as well as to the convention itself, sunday school groups, ofwb ministries and other organizations and inviduals for use in religious activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$152,502$161,085▲ $8,583
Land, Buildings, and Equipment, Net$159,891$135,551▼ $24,340
Rtn Earn Endowment Incm Other Fnds$118,530$96,254▼ $22,276
Accounts Receivable$40,525$37,817▼ $2,708
Cash and Non-Interest-Bearing Accounts$86,890$28,706▼ $58,184
Total Assets$439,808$363,159▼ $76,649
Liabilities
Mortgage Notes Payable Secured by Investment Property$301,525$253,407▼ $48,118
Other Liabilities$14,391--
Accounts Payable and Accrued Expenses$5,362$13,498▲ $8,136
Total Liabilities$321,278$266,905▼ $54,373
Net Assets / Fund Balance
Total Net Assets Fund Balance$118,530$96,254▼ $22,276
Total Liabilities and Net Assets / Fund Balance$439,808$363,159▼ $76,649

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$59,010$358,612$417,622
Equipment$56,541$336,156$392,697
Land$20,000-$20,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Darren E DavenportVice PresidePT$52,800$52,800
Jerry L GoffAsst. Vice P-$46,850$46,850
John Richard WatsonPresident/cf-$26,000$26,000

Board Members and Trustees

NameTitle
Mike ScottChairman
Kelly SmartVice Chairma
Joe BallanceDirector
Linda WethersbyDirector
Royce ReynoldsDirector
Stephen PrescottDirector
Tommy MalinDirector
Tony MooreDirector
Melinda EdwardsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$34,764
Program Service Revenue
$0
Investment Income
$18
Other Revenue
$365,068
All Other Contributions
$20,373
Change in Net Assets
$-22,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$227,950
Other Expenses$194,174
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$46,850$78,800-$125,650
Other Salaries and Wages$85,658--$85,658
Office Expenses$71,655$7,137-$78,792
Occupancy$26,925$8,489-$35,414
Depreciation Depletion$30,138--$30,138
Interest$11,593$3,865-$15,458
Payroll Taxes$6,583$5,729-$12,312
Insurance$8,394$2,798-$11,192
Fees for Services Accounting-$9,255-$9,255
Fees for Services Other$7,513$796-$8,309
Advertising$5,459--$5,459
Other Employee Benefits$2,822$1,508-$4,330
Travel-$157-$157
Total Functional Expenses$303,590$118,534$0$422,124
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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, Page 6, Part VI, Line 7A

Directors are appointed by the board of directors of the convention of original free will baptists at its annual meeting. The board of directors shall exercise all the powers of the corporation, including all powers that have been conferred upon similar corporations by the nc nonprofit corporation act and other corporate laws of the state of nc.

Form 990, Page 6, Part VI, Line 9

Mike scott 655 piney neck rd vanceboro, nc 28586 kelly smart 105 e jamestown st goldsboro, nc 27534 joe ballance 2745 old beulah rd selma, nc 27576 linda wethersby 3852 n hills dr. Ayden, nc 28513 royce reynolds p o box 22 columbia, nc 27925 melinda edwards 2551 pikeville princeton rd pikeville, nc 27863 tony moore 2590 church st winterville, nc 28590 stephen prescott 2297 nc hwy 96 s. Four oaks, nc 27524

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

Tax return is reviewed at monthly board meeting.

Form 990, Page 6, Part VI, Line 12C

Each director and principal officer shall annually sign a statement. An interested person must disclose the actual or possible conflict of the financial interest and be given the opportunity to disclose all material facts to the directors considering the proposed transaction or arrangement. After disclosure he/she shall leave the board of directors meeting while the determination of a conflict of interest is discussed and voted upon.

Form 990, Page 6, Part VI, Line 19

Documents are available to the public upon request made to the cfo.

Filing and Contact Details

Filer

Filer Name
Free Will Baptist Press
EIN
56-0554224
Phone
2527466128
Address
3928 LEE ST, AYDEN, NC 28513

Signing Officer

Name
John Richard Watson
Title
President/CFO
Phone
2527466128
Signed
2021-12-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Richard Watson
Formed
1964
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
0
Employees
12

Preparer

Firm
Taylor and Jones Cpas Pa
Address
PO BOX 725, FARMVILLE, NC 27828
Preparer
Lynn a Jones CPA
Phone
2527535321
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The charity operates to provide low cost printed religious materials to churches in the original free will baptist convention as well as to the convention itself, sunday school groups, original free will baptist ministries and other organizations and indiviudals (for use in religious activities.) the printing is designed to be at the cost to the charity and assistance is available to churches who are unable to pay the costs of these activities.

Form 990, Part XI, Line 9

Book / tax depreciation difference -2

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IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt1ASST. VICE P
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHARITY OPERATES TO PROVIDE LOW COST PRINTED RELIGIOUS MATERIALS TO CHURCHES IN THE ORIGINAL FREE WILL BAPTIST CONVENTION AS WELL AS TO THE CONVENTION ITSELF, SUNDAY SCHOOL GROUPS, ORIGINAL FREE WILL BAPTIST MINISTRIES AND OTHER ORGANIZATIONS AND INDIVIUDALS (FOR USE IN RELIGIOUS ACTIVITIES.) THE PRINTING IS DESIGNED TO BE AT THE COST TO THE CHARITY AND ASSISTANCE IS AVAILABLE TO CHURCHES WHO ARE UNABLE TO PAY THE COSTS OF THESE ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS ARE APPOINTED BY THE BOARD OF DIRECTORS OF THE CONVENTION OF ORIGINAL FREE WILL BAPTISTS AT ITS ANNUAL MEETING. THE BOARD OF DIRECTORS SHALL EXERCISE ALL THE POWERS OF THE CORPORATION, INCLUDING ALL POWERS THAT HAVE BEEN CONFERRED UPON SIMILAR CORPORATIONS BY THE NC NONPROFIT CORPORATION ACT AND OTHER CORPORATE LAWS OF THE STATE OF NC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MIKE SCOTT 655 PINEY NECK RD VANCEBORO, NC 28586 KELLY SMART 105 E JAMESTOWN ST GOLDSBORO, NC 27534 JOE BALLANCE 2745 OLD BEULAH RD SELMA, NC 27576 LINDA WETHERSBY 3852 N HILLS DR. AYDEN, NC 28513 ROYCE REYNOLDS P O BOX 22 COLUMBIA, NC 27925 MELINDA EDWARDS 2551 PIKEVILLE PRINCETON RD PIKEVILLE, NC 27863 TONY MOORE 2590 CHURCH ST WINTERVILLE, NC 28590 STEPHEN PRESCOTT 2297 NC HWY 96 S. FOUR OAKS, NC 27524
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TAX RETURN IS REVIEWED AT MONTHLY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH DIRECTOR AND PRINCIPAL OFFICER SHALL ANNUALLY SIGN A STATEMENT. AN INTERESTED PERSON MUST DISCLOSE THE ACTUAL OR POSSIBLE CONFLICT OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE HE/SHE SHALL LEAVE THE BOARD OF DIRECTORS MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST MADE TO THE CFO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOOK / TAX DEPRECIATION DIFFERENCE -2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN RICHARD WATSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum02527466128
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREE WILL BAPTIST PRESS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INCORPORATED
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ReturnHeader/Filer/PhoneNum02527466128
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 725
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FARMVILLE
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