The River Foundation
TO PROVIDE FUNDING TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF NCCF BY EMPOWERING AND MINISTERING TO THE WEAK AND THE POOR, TO ASSIST IN TRAINING DISCIPLES, AND TO PARTNER WITH CHRIST-CENTERED ORGANIZATIONS THAT PROCLAIM THE GOOD NEWS AND STAND FOR THE TRUTH.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$2.9M
Total Expenses
$2.7M
Net Assets
$786K
Employees
2
Grants Paid
$2.4M
Program Expense Ratio
98.7%
This nonprofit profile presents IRS Form 990 tax filing data for The River Foundation (EIN: 61-1190262), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
The River Foundation is a 501(c)(3) nonprofit headquartered in STANFORD, KY, founded in 1990. The organization has held tax-exempt status since 1991. In its 2024 filing, the organization reported $2.9M in total revenue, a 72.4% increase from the prior year, and $2.7M in total expenses. The organization employed 2 people. BOYD BAILEY, DIRECTOR, is the highest-compensated individual at $237,209. The organization runs 1 program, totaling $2.7M in program expenses. 5 of 6 recommended governance policies are in place.
Programs(Tax Year 2024)
1 record
The River Foundation operates 1 program, with total program expenses of $2.7M. The River Foundation's largest program accounts for 100% of total program spending.
THE RIVER FOUNDATION, INC., PROVIDED FUNDING TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF NATIONAL CHRISTIAN CHARITABLE FOUNDATION, INC. ("NCCF"), THE RIVER FOUNDATION'S SUPPORTED ORGANIZATION, BY EMPOWERING AND MINISTERING TO THE WEAK AND THE POOR, TO ASSIST IN TRAINING DISCIPLES, AND TO PARTNER WITH CHRIST-CENTERED ORGANIZATIONS THAT PROCLAIM THE GOOD NEWS AND STAND FOR THE TRUTH.
Financial Overview(Tax Years 2020–2024)
5 records
Over the past 5 years, The River Foundation's revenue has grown from $2.4M to $2.9M, a 20.0% increase. Program expenses represent 99% of total spending.
Revenue increased 72.4% year-over-year, while expenses grew 32.8%. net assets rose to $786K, up 39.7% from the prior year. the organization reduced headcount by 1 employees.
The River Foundation derives 100% from contributions and grants, with 0% from investment income.
Revenue is heavily concentrated: 100% comes from contributions and grants, indicating limited diversification.
The River Foundation allocates 99% to programs, 1% to management and general.
Revenue grew by 72.4% while expenses grew by only 32.8%, suggesting improving operational efficiency.
The River Foundation distributed $2.4M in grants to other organizations and individuals, representing 87% of total expenses.
Over 5 filings from 2020–2024, The River Foundation grew revenue from $2.4M to $2.9M (+20.0%) while maintaining a program expense ratio of 99%. During this period, the organization reduced from 3 to 2 employees.
The River Foundation holds $788K in total assets against $3K in liabilities (debt-to-asset ratio of 0%). The organization has 3.5 months of operating reserves. Cash and equivalents of $788K cover approximately 3.5 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $2.9M | $2.9M | $0 | $0 | $273 |
| 2023 | $1.7M | $1.7M | $0 | $0 | $367 |
| 2022 | $3.2M | $3.2M | $0 | $0 | $357 |
| 2021 | $1.6M | $1.6M | $0 | $0 | $252 |
| 2020 | $2.4M | $2.4M | $0 | $0 | $280 |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $2.7M | $2.7M | $35K | $0 | $2.4M |
| 2023 | $2.0M | $2.0M | $55K | $0 | $1.7M |
| 2022 | $3.2M | $3.0M | $104K | $0 | $2.8M |
| 2021 | $1.5M | $1.4M | $52K | $0 | $1.1M |
| 2020 | $1.9M | $1.8M | $52K | $0 | $1.6M |
Program Expense Ratio
98.7%
Admin Expense Ratio
1.3%
Fundraising Efficiency
—
Operating Reserve
3.5 mo
People & Compensation(Tax Year 2024)
8 records
The River Foundation reported compensation for 8 officers and key employees. Total officer compensation was $237K, representing 8.8% of total expenses.
The River Foundation's highest-compensated individual received $237K in total compensation. Total officer compensation of $237K represents 8.8% of total expenses.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| BOYD BAILEY | DIRECTOR | Director | 1.00 | $0 | $202,804 | $237,209 |
| ANGELA CORRELL | DIRECTOR/VICE CHAIR | OfficerDirector | 1.00 | $0 | $0 | $0 |
| TED MILLER | TREASURER | Officer | 1.00 | $0 | $0 | $0 |
| DAVID H WILLS | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| ADRIENNE CORRELL | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| ROBERT CUNNINGHAM | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| JESSE T CORRELL | DIRECTOR/CHAIRMAN | OfficerDirector | 4.00 | $0 | $0 | $0 |
| W SCOTT STEELE | DIRECTOR/SECRETARY | OfficerDirector | 1.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
BOYD BAILEY
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Governance & Compliance(Tax Year 2024)
The River Foundation has 5 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 7 members, 6 of whom are independent.
The River Foundation's financial statements are audited, an audit committee oversees the process.
The River Foundation has family or business relationships among officers, directors, or key employees.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
2 records
The River Foundation awarded $2.4M across 2 grants to organizations. Top recipients include NATIONAL CHRISTIAN CHARITABLE FOUNDATION INC (ALPHARETTA, GA) — $2.3M for supported organization; HIGHLANDS COLLEGE (BIRMINGHAM, AL) — $10K for growth.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| NATIONAL CHRISTIAN CHARITABLE FOUNDATION INC581493949 | ALPHARETTA, GA | $2.3M | SUPPORTED ORGANIZATION |
| HIGHLANDS COLLEGE810863355 | BIRMINGHAM, AL | $10K | GROWTH |
Filing History(Tax Years 1991–2024)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $2.9M | $2.7M | $786K |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $1.7M | $2.0M | $562K |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $3.2M | $3.2M | $900K |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $1.6M | $1.5M | $823K |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $2.4M | $1.9M | $689K |
| 1991–2019 | No filings acquired yet | ||||
Frequently Asked Questions
What does The River Foundation do?
TO PROVIDE FUNDING TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF NCCF BY EMPOWERING AND MINISTERING TO THE WEAK AND THE POOR, TO ASSIST IN TRAINING DISCIPLES, AND TO PARTNER WITH CHRIST-CENTERED ORGANIZATIONS THAT PROCLAIM THE GOOD NEWS AND STAND FOR THE TRUTH.
How much revenue does The River Foundation have?
The River Foundation reported $2,925,329 in total revenue for tax year 2024, up 72.4% from the prior year.
Who is the highest-paid executive at The River Foundation?
BOYD BAILEY, DIRECTOR, received $237,209 in total compensation as of tax year 2024.
Is The River Foundation a 501(c)(3)?
Yes, The River Foundation is classified as a 501(c)(3) tax-exempt organization.
Where is The River Foundation located?
The River Foundation is headquartered in STANFORD, KY 40484.
How many employees does The River Foundation have?
The River Foundation has 2 employees as of tax year 2024.
Is The River Foundation audited?
Yes, The River Foundation's financial statements are audited, and the organization has an audit committee.
Does The River Foundation give grants?
Yes, The River Foundation distributed $2,358,500 in grants to other organizations and individuals in tax year 2024. Top recipients include NATIONAL CHRISTIAN CHARITABLE FOUNDATION INC, HIGHLANDS COLLEGE.
Data Source
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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