Spread Truth Ministries Inc

Nonprofit profile at a glance

EIN
371414019
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Bloomington, IL, USA
Phone
3094523213
Rating
72
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Protestant
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,794,117
Expenses
$1,466,011
Assets
$828,361
Liabilities
$227,251

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

Leadership & pay

9 people listed

Executive titles in this filing

  • WILLIAM MCCORKLE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WILLIAM MCCORKLE (EXECUTIVE DIRECTOR): $84,844 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 truth develops training materials and resources to help christians confidently share christ in relevant and loving ways.

What it reported doing in 2024

Spread truth has a program in kenya and surrounding areas of africa. The goals are the same as spread truths main mission - reach the lost and train up christians to share their faith confidently. This is done in many similar ways to the u.s. Hands-on training, but in africa, there is currently a bigger need for basic needs and personal care. Spread truth addresses that by partnering with local organizations, churches, governments and food banks so that basic and spiritual needs are being met for both those that are being trained and those being witnessed to. Over 4,000 people were served at a 3 day medical clinic and 5,800 gospel booklets have been distributed.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 79
  • Accountability: 84
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.8%; rating input score 60
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: $5.37 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: 18.3%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 15.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 17.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 27.2% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 59.8% of revenue deployed · 73.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $85K · 9 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and foreign activity
  • Filing history: 4 filing years from 2020 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.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.