G42 INC FY2022 filing

Gainesville, GAUnknown exempt organization EIN 26-0734218Revenue $157K in FY2022

On file with the IRSgeneration42.org6000 Wellspring Trail · Gainesville, GA

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G42 is a network of churches, ministries, and businesses with the mission to plant churches and ministries and to spread the Kingdom of God around the world-to inspire and develop leaders who are passionate about the poor, orphans, and laying their lives down for Christ.

20¢ of each $1 spent went to programs.
$64K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $46K a year · 13% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
20%
of spending
Concern: 20% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$64K
to officers and key staff · 46% of spending
Concern: pay to officers and key staff is 46% of spending; over 30%.
Pt VII · Sec A
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$157K
-35% vs prior year
Spent
$140K
To programs
20%
Net assets
$254K
By yearFY2019–FY2024
Revenue
$157K
FY2022▼ -35%
Tap a bar for its year
Revenue by fiscal year
FY2019$429K
FY2020$579K
FY2021$240K
FY2022$157K
FY2023$67K
FY2024$7K
Expenses
$140K
FY2022▼ -54%
Tap a bar for its year
Expenses by fiscal year
FY2019$360K
FY2020$417K
FY2021$305K
FY2022$140K
FY2023Not on file
FY2024Not on file
Net assets
$254K
FY2022▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2019$136K
FY2020$299K
FY2021$234K
FY2022$254K
FY2023$33K
FY2024Not on file

From the FY2022 Form 990 (year ending September 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

20 cents of each dollar spent went to programs.

Program services 20% · $28K Management & general 80% · $112K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $64K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$33,036Pt VII · Sec A
Director
$25,305Pt VII · Sec A
Treasurer
$5,500Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2023FY2022FY2021FY2020FY2019
Andrew Shearman—$33,036$34,626$23,722$16,200
Gary Black—$25,305$34,350$15,000$6,200
David Hearn$7,625$5,500$6,000$6,000—
1680————$6,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Plants churches and ministries globally, inspiring leaders to serve the poor and orphans.

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Provided by the organization

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1 program · $28K · in their own filed words · FY2021
01

In 2021, Andrew Sherman has taken the message and ministry of the 42nd Generation worldwide, hosting events and teaching around the U.S. and England. Missionairies such as Sarah Hendee in Cambodia contintued their work multile ministries that have birthed out of G42 are still going strong, and leaders are teaching and directing them in…

$28Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$16

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$157K
Ln 12
Gifts and grantsLn 1h$151K
Other incomeLn 4–11$5K
Fees for servicesLn 2g$345
Money outPt IX
$140K
Ln 25
Programscol B$28K
Managementcol C$112K
Owns and owesPt X
$254K
net assets · Ln 32
Cash and savingsLn 1–2$86K
Total assetsLn 16$261K
LiabilitiesLn 26$8K
PeoplePt VI, VII
4
listed · VII A
PaidVII A3
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$151K
Fees for servicesLn 2g$345
Investment incomeLn 3$3
Other incomeLn 4–11$5K
Total revenueLn 12$157K
Assets in detailPt X, end of year
CashLn 1$49K
SavingsLn 2$37K
Cash and savings togetherLn 1–2$86K
Land, buildings, equipmentLn 10c$175K
Total assetsLn 16$261K
LiabilitiesLn 26$8K
Net assetsLn 32$254K
OperationsPt I, VI
EmployeesI 54
VolunteersI 62
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$112K$86K
Land, buildings, equipmentLn 10c$157K$175K
Total assetsLn 16$269K$261K
LiabilitiesLn 26$35K$8K
Net assetsLn 32$234K$254K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$150$150
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$64K$64K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$25K$25K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$1K$1K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$0
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$1K$1K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$2K$500$1K
Advertising and promotionLn 12$0
Office expensesLn 13$8K$673$8K
Information technologyLn 14$2K$2K
RoyaltiesLn 15$0
OccupancyLn 16$21K$21K
TravelLn 17$6K$4K$3K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$600$600
Other expenses (24a–d)Ln 24$3K$2K$1K
All other expensesLn 24e$0
Total functional expensesLn 25$140K$28K$112K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $7K 990 PDF
FY2023 $67K$33K 990 PDF
FY2022 Viewing $157K$140K$16K$254K 990 PDF
FY2021 $240K$305K−$65K$234K 990 PDF
FY2020 $579K$417K$162K$299K 990 PDF
FY2019 $429K$360K$69K$136K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $156,551 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $222,046$151,172
I-9 Program service revenuePrior year $654$345
I-10 Investment incomePrior year $5$3
I-11 Other revenuePrior year $16,896$5,031
I-12 Total revenuePrior year $239,601$156,551
I-13 Grants and similar amounts paidPrior year $2,407$150
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $124,288$92,096
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $178,236$47,922
I-18 Total expensesPrior year $304,931$140,168
I-19 Revenue less expensesPrior year −$65,330$16,383
Part VI · Governance 3 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $156,551 across 6 lines filed
VIII-1f All other contributions, gifts and grants$151,172
VIII-1h Total contributions, gifts and grants$151,172
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $345$345
VIII-3 Investment incomeRelated to mission $3$3
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,031$5,031
VIII-12 Total revenueRelated to mission $5,379$156,551
Part IX · Statement of functional expenses $140,168 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $150$150
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $63,841$63,841
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $25,252$25,252
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsManagement $1,032$1,032
IX-10 Payroll taxesManagement $1,971$1,971
IX-11a Management fees$0
IX-11b Legal feesManagement $3,693$3,693
IX-11c Accounting feesManagement $1,329$1,329
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $500 · Management $1,289$1,789
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $673 · Management $7,616$8,289
IX-14 Information technologyManagement $1,646$1,646
IX-15 Royalties$0
IX-16 OccupancyPrograms $20,951$20,951
IX-17 TravelPrograms $3,754 · Management $2,513$6,267
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $600$600
IX-24 Other expenses (24a–d)Programs $2,048 · Management $1,310$3,358
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $28,076 · Management $112,092 · Fundraising $0$140,168
Part X · Balance sheet $261,252 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $44,233$48,782
X-2 Savings and temporary cash investmentsStart of year $67,368$37,029
X-10c Land, buildings and equipment, netStart of year $156,903$175,441
X-16 Total assetsStart of year $268,504$261,252
X-17 Accounts payable and accrued expensesStart of year $6,593$1,703
X-25 Other liabilitiesStart of year $26,054$5,932
X-26 Total liabilitiesStart of year $34,955$7,635
X-27 Net assets without donor restrictionsStart of year $233,549$253,617
X-32 Total net assets or fund balancesStart of year $233,549$253,617
X-33 Total liabilities and net assetsStart of year $268,504$261,252
Part XI · Reconciliation of net assets $253,617 net assets at year end
XI-1 Total revenue$156,551
XI-2 Total expenses$140,168
XI-3 Revenue less expenses$16,383
XI-4 Net assets at start of year$233,549
XI-8 Prior period adjustments$3,685
XI-10 Net assets at end of year$253,617

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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