Theological Book Network FY2023 filing

Grand Rapids, MIUnknown exempt organizationEIN 35-2166244Revenue $1.6M in FY2023

On file with the IRStheologicalbooknetwork.org5680 Kraft Ave Se · Grand Rapids, MI

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To provide quality academic books and journals to the libraries of seminaries, colleges and universities in Africa, Asia, Eastern Europe, Latin America and the Middle East that provide theological training

93¢ of each $1 spent went to programs.
$60K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
2 of 5
filings with a surplus
Average surplus $15K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$60K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $350K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$92K
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+9% vs prior year
Spent
$1.8M
To programs
93%
Net assets
$84K
By yearFY2020–FY2024
Revenue
$1.6M
FY2023▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$2.8M
FY2022$1.5M
FY2023$1.6M
FY2024$0
Expenses
$1.8M
FY2023▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$2.3M
FY2022$1.6M
FY2023$1.8M
FY2024$0
Net assets
$84K
FY2023▼ -68%
Tap a bar for its year
Net assets by fiscal year
FY2020−$79K
FY2021$430K
FY2022$260K
FY2023$84K
FY2024$0

From the FY2023 Form 990 (year ending June 2023) · see the original

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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

93 cents of each dollar spent went to programs.

Program services 93% · $1.7M Management & general 5% · $83K Fundraising 2% · $41K

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

7 people listed on the 990; $60K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President/CEO
$60,282Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
John J Clark———$112,015
Justin Holford$60,282$69,394$77,317—

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.

See Theological Book Network executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supplies academic books and journals to theological training institutions worldwide.

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2022
01

34,708 printed books and journals shipped to 90 institutions in 6 different countries. Each shipment included theological books to support seminary services.

$1.7Mprogram 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 · FY2024
Total grants receivedfrom 2 funders$350K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$57K
Investment incomeLn 3$21
Money outPt IX
$1.8M
Ln 25
Programscol B$1.7M
Managementcol C$83K
Fundraisingcol D$41K
Owns and owesPt X
$84K
net assets · Ln 32
Cash and savingsLn 1–2$54K
Total assetsLn 16$176K
LiabilitiesLn 26$92K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Noncash giftsLn 1g$1.1M
Investment incomeLn 3$21
Other incomeLn 4–11$57K
Gains on assetsLn 7−$51K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$75
SavingsLn 2$54K
Cash and savings togetherLn 1–2$54K
Land, buildings, equipmentLn 10c$118K
Total assetsLn 16$176K
LiabilitiesLn 26$92K
Net assetsLn 32$84K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$80K$54K
Land, buildings, equipmentLn 10c$238K$118K
Total assetsLn 16$328K$176K
LiabilitiesLn 26$68K$92K
Net assetsLn 32$260K$84K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$74K$44K$18K$11K
Pay of disqualified personsLn 6$145K$139K$0$6K
Pension plan contributionsLn 8$10K$8K$1K$670
Other employee benefitsLn 9$53K$51K$1K$635
Payroll taxesLn 10$17K$15K$1K$1K
Legal feesLn 11b$336$0$336$0
Accounting feesLn 11c$17K$0$17K$0
Information technologyLn 14$4K$400$1K$2K
OccupancyLn 16$76K$65K$11K$0
TravelLn 17$27K$21K$792$5K
Conferences, conventions and meetingsLn 19$6K$6K$0$0
InterestLn 20$4K$0$4K$0
Depreciation, depletion and amortizationLn 22$69K$67K$1K$0
InsuranceLn 23$9K$0$9K$0
Other expenses (24a–d)Ln 24$1.1M$1.1M$615$1K
All other expensesLn 24e$181K$152K$16K$13K
Total functional expensesLn 25$1.8M$1.7M$83K$41K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$0$0$0 990 PDF
FY2023 Viewing $1.6M$1.8M−$176K$84K 990 PDF
FY2022 $1.5M$1.6M−$170K$260K 990 PDF
FY2021 $2.8M$2.3M$509K$430K 990 PDF
FY2020 $1.7M$1.8M−$89K−$79K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,608,035 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,342,531$1,551,426
I-9 Program service revenue$0
I-10 Investment incomePrior year $795−$50,826
I-11 Other revenuePrior year $129,630$107,435
I-12 Total revenuePrior year $1,472,956$1,608,035
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $310,236$299,008
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,332,885$1,485,254
I-18 Total expensesPrior year $1,643,121$1,784,262
I-19 Revenue less expensesPrior year −$170,165−$176,227
Part VI · Governance 6 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,608,035 across 6 lines filed
Lines not itemized here account for $107,435 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,551,426
VIII-1g Noncash contributions (included above)$1,074,844
VIII-1h Total contributions, gifts and grants$1,551,426
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$21
VIII-7 Net gain or loss on sales of assetsRelated to mission −$50,847 · Unrelated business $0 · Excluded from tax $0−$50,847
VIII-12 Total revenueRelated to mission $56,609 · Unrelated business $0 · Excluded from tax $0$1,608,035
Part IX · Statement of functional expenses $1,784,262 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $44,143 · Management $18,393 · Fundraising $11,036$73,572
IX-6 Pay of disqualified personsPrograms $139,250 · Management $0 · Fundraising $5,955$145,205
IX-8 Pension plan contributionsPrograms $8,238 · Management $1,116 · Fundraising $670$10,024
IX-9 Other employee benefitsPrograms $51,080 · Management $1,058 · Fundraising $635$52,773
IX-10 Payroll taxesPrograms $14,614 · Management $1,466 · Fundraising $1,354$17,434
IX-11b Legal feesPrograms $0 · Management $336 · Fundraising $0$336
IX-11c Accounting feesPrograms $0 · Management $17,240 · Fundraising $0$17,240
IX-14 Information technologyPrograms $400 · Management $1,060 · Fundraising $2,410$3,870
IX-16 OccupancyPrograms $65,302 · Management $10,630 · Fundraising $0$75,932
IX-17 TravelPrograms $20,775 · Management $792 · Fundraising $5,397$26,964
IX-19 Conferences, conventions and meetingsPrograms $6,197 · Management $0 · Fundraising $0$6,197
IX-20 InterestPrograms $0 · Management $3,607 · Fundraising $0$3,607
IX-22 Depreciation, depletion and amortizationPrograms $67,455 · Management $1,378 · Fundraising $0$68,833
IX-23 InsurancePrograms $0 · Management $8,917 · Fundraising $0$8,917
IX-24 Other expenses (24a–d)Programs $1,090,408 · Management $615 · Fundraising $1,247$1,092,270
IX-24e All other expensesPrograms $152,069 · Management $16,427 · Fundraising $12,592$181,088
IX-25 Total functional expensesPrograms $1,659,931 · Management $83,035 · Fundraising $41,296$1,784,262
Part X · Balance sheet $175,964 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $59$75
X-2 Savings and temporary cash investmentsStart of year $79,933$53,544
X-9 Prepaid expenses and deferred chargesStart of year $10,156$4,156
X-10c Land, buildings and equipment, netStart of year $237,869$118,189
X-16 Total assetsStart of year $328,017$175,964
X-17 Accounts payable and accrued expensesStart of year $67,830$92,004
X-26 Total liabilitiesStart of year $67,830$92,004
X-32 Total net assets or fund balancesStart of year $260,187$83,960
X-33 Total liabilities and net assetsStart of year $328,017$175,964
Part XI · Reconciliation of net assets $83,960 net assets at year end
XI-1 Total revenue$1,608,035
XI-2 Total expenses$1,784,262
XI-3 Revenue less expenses−$176,227
XI-4 Net assets at start of year$260,187
XI-10 Net assets at end of year$83,960

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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