Freeport Bible Center Inc

Nonprofit profile at a glance

EIN
112848912
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Freeport, NY, USA
Phone
5165462020
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$3,030,912
Expenses
$3,091,611
Assets
$4,707,679
Liabilities
$152,160

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Carlos L Vargas (President)
  • Evelyn Vargas (Vice President)

Highest reported compensation

  • Carlos L Vargas (President): $93,470 total reported compensation

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

Overview

Mission

Spread the Gospel of Jesus Christ. -Church

What it reported doing in 2024

Religious Services

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.

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 and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.1%; rating input score 98
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Fail

Sustainability

  • Operating margin: -2%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 1.52; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 14.5% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3M in reported program spending
  • Leadership: top reported pay $93K · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.