Richmond's First Baptist Church

Legal name: First Baptist Church Endowment Fund Incorporated

Nonprofit profile at a glance

EIN
540858196
IRS 990 coverage
2013–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025, Form 990-T 2025
Location
Richmond, VA, United States
Phone
804-355-8637
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$3,267,043
Expenses
$2,732,131
Assets
$28,942,956
Liabilities
$92,525

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • MARK LARSON (PRESIDENT)
  • JAMES W NORVELLE (PRESIDENT)

People named in this filing

  • MARIE ALLRED (DIRECTOR)
  • LESLIE BEALE (DIRECTOR)
  • KIM O BOYS (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We affirm the Biblical truth that all people are created in God’s image, and therefore seek to welcome every person in the Spirit of Christ. Anyone can join us in our mission of bringing the Kingdom of Heaven to Richmond, Virginia—and beyond. Anyone can give in support of that mission, simply by clicking here. But when you become a member you make a special commitment to the life, health, and strength of the church. You jump in with both feet; you give it all you’ve got. In these days of “hybrid church” _you don’t have to be physically present_ to be a member, but at the very least we expect:.

What it reported doing in 2025

The endowment provides grants to various organizations for religious, educational, and humanitarian aid.

Operating model

Revenue model
Investment-supported. 73% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.4%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 10.59; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 25th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 89.8% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.