Free Will Baptist Children's Home Inc

Nonprofit profile at a glance

EIN
560636251
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Middlesex, NC, USA
Phone
2522352161
Rating
82
Verdict
STRONG
Rating confidence
Standard
Affiliation
Christianity

Official website

Reported finances

Revenue
$5,215,477
Expenses
$5,094,894
Assets
$18,565,313
Liabilities
$993,481

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • GARY LEE (PRESIDENT/CEO)

Highest reported compensation

  • GARY LEE (PRESIDENT/CEO): $194,945 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our vision is to see every child thrive and families flourish. Free will baptist children's home is called to provide a nurturing environment to promote the spiritual, emotional, educational and physical well being of children, youth and families. Our values are child focused, christ centered, family oriented and education minded.

What it reported doing in 2024

Bridge learning center - our bridge learning center is a pre-k, before/after school and summer program serving pre-k - 5th grade children in our community. Bridge learning center works together as a family (administration, staff and parents) to provide the best environment for each child. Our goal is to provide positive relationships within the community and to nurture the children in all aspects of development including cognitive, physical, social, emotional and spiritual development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 80
  • Accountability: 100
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 75.4%; rating input score 75
  • Fundraising efficiency: $13.64 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.3%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 75.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $3.8M in reported program spending
  • Leadership: top reported pay $195K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 48/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.