Restored Through Christ Ministries

“Form 990-ez, part i, line 8 - additional explanation: on 5/22/15 rtcm sold land for 108,900 with a 5 year installment note of 78900. The land was given to the ministry in 2004 and had an adjusted basis of 92k. The land sold for 108,900 with 17214 in closing costs. This net result is a 314 capital loss. Although the installment sale is not reportable due the overall loss, the organization has included the note's principal payments of 8186 through the balance sheet and the 2287 of interest earned from the note as other revenue. The organization will continue to report the principal payments and interest earnings for the duration of the note, which has a 5 year payment schedule.”

“Interest on note receivable 2,287 total 2,287”

“Expenses 1,989 housing allowance 18,555 donations - sanctuary 2,001 bank fees 150 total 22,695”

“Land sale note 78,900 70,714 total 78,900 70,714”

“To teach, administer and counsel the word of god to the wounded and broken-hearted for the purporse of restoring spiritual and emotional wholeness and healing.”