Nonprofits/Organizations/61-1190262
Active
501(c)(3)
Form 990

The River Foundation

EIN 61-1190262STANFORD, KY 40484Founded 1990WebsiteIRS Tax Year 2024 · Period ending December 31, 2024
Mission Statement

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

+72.4%YoY

Total Expenses

$2.7M

+32.8%YoY

Net Assets

$786K

+39.7%YoY

Employees

2

-33.3%YoY

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.

Chat with The River Foundation's data & any nonprofit

Coming Soon

Compare organizations, analyze trends, and ask questions about The River Foundation's finances, compensation, and programs — or any other nonprofit — using our AI-powered research assistant.

Join Waitlist
RoundPaper IndicatorsTax Year 2024

Financial Health

Revenue grew +72.4% to $2.9M
Program spending ratio of 98.7% — excellent
3.5 months of operating reserves
Expenses increased +32.8% year-over-year

Transparency

Conflict of interest policy adopted
Whistleblower policy in place
Financial statements independently audited
7-member board, 6 independent

Compensation

Top compensation: $237,209 (DIRECTOR)
Top exec pay is 8.8% of total expenses — elevated
Schedule J filed for 1 individual — detailed disclosure
No executive perks reported

Program Effectiveness

1 program reported
98.7% of spending goes to programs
No programs generate independent revenue
$2.4M in grants paid to other organizations

Financial Stability

Debt-to-asset ratio of 0.4% — low leverage
3.5 months cash runway
Revenue diversification: concentrated in few sources
Net assets consistently growing over recent filings

Risk Flags

No insider or excess benefit transactions
No material diversion or misuse reported
Family or business relationships among officers/directors

Indicators derived from IRS Form 990 data. Not financial advice.

Organization Summary

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

Programs Overview

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.

1
Program 1Expenses: $2,667,157

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

Financial Highlights

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

YearTotal RevenueContributionsGov't GrantsProgram RevenueInvestment
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

YearTotal ExpensesProgramManagementFundraisingGrants 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

Compensation Summary

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.

NameTitleTypeHours/wkComp from OrgRelated OrgsTotal
BOYD BAILEYDIRECTOR
Director
1.00$0$202,804$237,209
ANGELA CORRELLDIRECTOR/VICE CHAIR
OfficerDirector
1.00$0$0$0
TED MILLERTREASURER
Officer
1.00$0$0$0
DAVID H WILLSDIRECTOR
Director
1.00$0$0$0
ADRIENNE CORRELLDIRECTOR
Director
1.00$0$0$0
ROBERT CUNNINGHAMDIRECTOR
Director
1.00$0$0$0
JESSE T CORRELLDIRECTOR/CHAIRMAN
OfficerDirector
4.00$0$0$0
W SCOTT STEELEDIRECTOR/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)

Governance Snapshot

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

Conflict of interest policy
Whistleblower policy
Document retention policy
CEO compensation review process
Other officer compensation review
990 provided to governing body
Board members7
Independent members6

Audit & Financial Oversight

Financial statements audited
Independent audit
Audit committee
Federal grant audit required

Grants Awarded(Tax Year 2024)

2 records

Grantmaking Summary

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

RecipientLocationAmountPurpose
NATIONAL CHRISTIAN CHARITABLE FOUNDATION INC581493949ALPHARETTA, GA$2.3MSUPPORTED ORGANIZATION
HIGHLANDS COLLEGE810863355BIRMINGHAM, AL$10KGROWTH

Filing History(Tax Years 1991–2024)

5 records

Showing the 5 Form 990 filings currently in our system.

Tax YearFormPeriodRevenueExpensesNet 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
1991–2019No 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.

Publicly available IRS data
Verified filing records
Updated quarterly
Coming Soon

Ask anything about
any nonprofit

Get instant, data-backed answers about nonprofit compensation, financials, and trends. Join the waitlist for early access. Free tier included at launch.

Trusted by nonprofit professionals

3.6M+

IRS Filings

1.7M+

Organizations

28M+

Comp Records