Foundation Of Praise Incorporated
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 523,377 | 450,063 | 73,314 | 163.9 | 41% |
| 2021 | 739,185 | 642,877 | 96,308 | 118.6 | 29% |
| 2022 | 620,567 | 544,387 | 76,180 | 131.2 | 45% |
| 2023 | 516,558 | 639,456 | −122,898 | 109.4 | 40% |
In its most recent public year (2023), this organization spent $122,898 more than it brought in. Its reserves stood at about 109.4 months of spending, down from 163.9 in 2020. Staff pay was 40% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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