Mt28 INC EIN 27-0170851 Form 990 (PDF) Claim this org

Mt28 INC FY2024 filing

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Provides religious, charitable, and educational services. For fiscal year 2024 it reported $274K in revenue, $254K in expenses, and $79K in net assets.Pt I

Type
Religious organization · Religion
Location
Austin, TX
Website
www.mt28.org
Filings
6 on file (2020–2024)
Revenue
$274KFY2024
Expenses
$254K
Net assets
$79K
People
7
Filings
6
Updates
0
More identity details & actions ⌄
EIN  27-0170851 Religious organization Austin, TX
Form 990 (PDF)
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Provides religious, charitable, and educational services.
Leadership
Laura Hitt · Director / Board of Directors Chairperson
Money in and out
$274K revenue, $254K expenses
Bottom line
99% program efficiency
Where the money goes · FY2024
Total revenue
$274K
Pt VIII · Ln 12
Total expenses
$254K
Pt IX · Ln 25
Net assets
$79K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $19K
Where spending went · Part IX cols B–D
Program services $0.99 Management & general $0.01
Program efficiency
99%
of spending reaches programs
Operating runway
4.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+7%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$274K
FY2024▲ +24%
Expenses
$254K
FY2024▲ +9%
Total assets
$79K
FY2024▲ +33%
Total liabilities
$52
FY20240%
Total revenue
$274K
Pt VIII · Ln 12
Total expenses
$254K
Pt IX · Ln 25
Net assets
$79K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$19K
Total assetsPt X · Ln 16$79K
Program-expense ratioPt IX · col B99%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMt28 INC
EINHdr · item D27-0170851
Principal addressHdr · item CAustin, TX
WebsiteHdr · item Jwww.mt28.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFReligion (X21)
Ruling yearIRS BMFNov 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director / Board of Directors Chairperson
$0Pt VII · Sec A
Director / Board Secretary / Chief Executive Officer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $253K of program spending, described in the organization's own filed words · FY2024.
01

GOSPEL IN TURKEY. Spreading the Christian gospel in Turkey includes general support for building rent and utilities. The church foundation with whom MT28 Inc interacts now owns two buildings, but it rents buildings in nine cities/villages in the region for church plants.

$196Kprogram expense
02

REFUGEE RELIEF. MT28 Inc provides a broad range of refugee relief in several areas of Turkey. Recipients still include displaced families and individuals from Iraq and Syria as a result of the ISIS aggression plus Afghans who fled the Taliban.

$57Kprogram expense
03

College Ministry/Discipleship

The numbers shown are revenue from and direct expenses for premarital counseling using Prepare/Enrich materials.

$35program expense

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Statement of Revenue

Part VIII
Contributions & grants101%$277K
Program service revenue$50
Total revenueLn 12$274K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.99 Management & general $0.01
Program services99%$253K
Management & general1%$1K
Total functional expensesLn 25$254K

Balance Sheet

Part X · end of year
CashLn 1$69K
Total assetsLn 16$79K
Total liabilitiesLn 26$52
Total net assetsLn 32$79K
Months of cash on handcomputed3.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $69K · Operating expenses (Pt IX) $254K · Less non-cash grants $69K · Cash operating expenses/yr $186K
4.4 months
Where the money goes
Program services
Program services $253K · Total expenses $254K
99%
Management & General
Management & general $1K · Total expenses $254K
0.6%
Fundraising
Fundraising $0 · Total expenses $254K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $234K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $277K · Total revenue $274K
101%
Government reliance
Government grants $0 · Total revenue $274K
0%
Earned-income share
Program service revenue $50 · Total revenue $274K
0.02%
Investment reliance
Investment income $-3K · Total revenue $274K
-1%
Program self-sufficiency
Program service revenue $50 · Total expenses $254K
0.02%
Growth & trend
Revenue growth (YoY)
This year $274K · Prior year $220K
+24%
Revenue CAGR
FY2020 $179K · FY2024 $274K
+11%
Net-asset trend (YoY)
End of year $79K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $274K · Expenses $254K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $79K
Net-asset ratio
Net assets $79K · Total assets $79K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $79K
0%
People & payroll
Highest Reported Total Compensation
Individual Laura Hitt · Reported title Director / Board of Directors Chairperson · Highest reported compensation $0 · Total expenses $254K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $254K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 99%
Overhead ratio 0.6%
Fundraising cost ratio 0%
Revenue growth 24%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$66

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$257K revenue · ⤓ 990 PDF
FY2024$274K revenue · viewing · ⤓ 990 PDF
FY2023$220K revenue · ⤓ 990 PDF
FY2022$203K revenue · ⤓ 990 PDF
FY2021$203K revenue · ⤓ 990 PDF
FY2020$179K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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