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Inspirational Network/ Inspiration Ministries/ INSP

Rating
Sector:

Radio/ TV Stations

Total
Revenue:

$56,391,000

Total
Expenses:

$52,153,000

Net
Assets:

$50,166,000

Profile Changes

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Profile Contents

Research Analysis
Financial Information

Ministry Pie Chart

Ministry Pie Chart

Age Size Box:

>50
Yr(s)25-50
<25
<$1m$1m-
$5m
>$5m

Summary

The Inspirational Network (INSP) is a religious organization promoting and producing television programming.

INSP is a 24 hour-a-day network available to more than 54 million U.S. households via cable and satellite television. INSP features a wide variety of different programming, including original and exclusive music and children’s programs. INSP is distributed to more than 2,400 cable systems representing 24 million subscribers and to DIRECTV’s more than 17 million subscribers via channel 364 and DISH Network’s more than 13 million subscribers via channel 259.

Contact Information: [ Back to top ]

Mailing Address:3000 World Reach Drive
Indian Land, SC
29707-9707
Website: www.insp.com
Phone:(704) 525-9800
Email:You need to enable javascript to see the email

Organization Details [ Back to top ]

EIN: 570931093
CEO/President: David Cerullo Tax Deductible: Yes
Chairman: David Cerullo Fiscal Year End:
Board Size: 3 Financial info from:
Founder: Member of ECFA: No
Year Founded: 1990 Member of ECFA since:

Purpose [ Back to top ]

The Inspirational Network (INSP) is a religious organization promoting and producing television programming.

INSP is a 24 hour-a-day network available to more than 54 million U.S. households via cable and satellite television. INSP features a wide variety of different programming, including original and exclusive music and children’s programs. INSP is distributed to more than 2,400 cable systems representing 24 million subscribers and to DIRECTV’s more than 17 million subscribers via channel 364 and DISH Network’s more than 13 million subscribers via channel 259.

The organization is also known by the following names:

  • Inspiration Ministries
  • The Inspiration Networks
  • The New Inspiration Network
  • The New Inspirational Network
However, a casual donor or observer may also see the following program names, and/or for-profit and nonprofit organizations associated with it in various capacities. This is not an all encompassing list.
  • The City of Light
  • Media Communications, Inc. (Mediacomm)
    For-profit business, EIN: 56-1795310
  • Imagicom Entertainment, Inc. (Imagicom)
    For-profit business, EIN: 56-2328766
  • Insp Direct (DBA: Insp. Media Group)
    For-profit business, EIN: 56-1795283
  • Steel Roots, Inc. (Steelroots)
    For-profit business, EIN: 01-0643659
  • Inspirational Media Properties International, Inc.
    For-profit business, EIN: 56-1835344
  • Inspirational Holdings, Inc. For-profit business, EIN: 34-2018804
  • Inspirational Life Television (iLifetv)
  • La Familia Cosmovision (LFC)
  • Inspiration Network International (INI)
  • Broadband channel Inspiration.net
  • Inspiration Video On Demand
  • Morris Cerullo World Evangelism
  • Ben Cerullo Ministries
  • Inspiration Ministries UK
The financials associated with this organization are only of the nonprofit Inspirational Network, from its IRS Form 990. The total financial picture of all related entities is unknown.

Mission Statement [ Back to top ]

INSP communicates its mission statement as follows:

Our mission is to impact the destiny of people and nations for Christ through media. INSP exists to provide Biblically-based programs which attempt to make a positive difference in people’s values, behavior and their relationship to God and their fellow man.

Program Accomplishments [ Back to top ]

Need Program Accomoplishments info

Statement of Faith [ Back to top ]

INSP communicates its Statement of Faith as follows:

  • We believe that both Old and New Testaments constitute the Divinely-Inspired Word of God, which is inerrant in the originals.
  • We believe in one God existing eternally in three persons, Father, Son, and Holy Spirit.
  • We believe that the Lord Jesus Christ, the Son of God, became man without ceasing to be God, in order that He might reveal God and redeem sinful men.
  • We believe that the Holy Spirit came forth from the Father and the Son to convict the world of sin, of righteousness, and of judgment; and to regenerate, sanctify, comfort, and seal those who believe in Jesus Christ.
  • We believe that man is totally depraved, and that of himself he is utterly unable to remedy his lost condition.
  • We believe that salvation is the gift of God, that salvation is available to every person by grace, and that salvation is received by personal faith in the Lord Jesus Christ, whose atoning Blood was shed on the Cross for the forgiveness of sins.
  • We believe in the water baptism of Believers, symbolizing the Believer's union in the death and Resurrection of Jesus Christ.
  • We believe in the observance of the Lord's Supper to commemorate the sacrifice of our Savior for all mankind.
  • We believe that the life of the Believer is to be separated from the world by consistent conduct before God and man, and is to be in the world as a life-giving light.
  • We believe in the personal, visible, and bodily return of the Lord Jesus Christ.

History [ Back to top ]

Inspirational Ministries was founded in 1990

Board of Directors
As stated on its Amended and Restated Articles of Incorporation Dated October 10, 2005:

  • Article VIII
    “The number of directors constituting the board of directors shall be three (3); and the names and addresses of the persons who are to serve as the directors are:”
    1. David Cerullo
      7910 Crescent Executive Drive, Suite 500, Charlotte, NC 28217
    2. John Groenke
      10202 Granger Road, Unit B, Garfield Heights, OH 44125
    3. Barbara Cerullo
      7910 Crescent Executive Drive, Suite 500, Charlotte, NC 28217
Directors Total Compensation per its IRS Form 990
  • David Cerullo
    • 2006: $1,658,977
    • 2005: $1,195,066
  • Barbara Cerullo
    • 2006: $166,384
    • 2005: $107,228

In February, 2008 it moved to its current location of “The City of Light”, 3000 World Reach Drive, Indian Land, SC.

David Cerullo
  • David Cerullo is the son of international evangelist Morris Cerullo. David graduated from Oral Roberts University with a degree in Business Administration and Management.
  • After college, he joined his Dad's ministry and gradually assumed most of the responsibility for the day to day operations.
  • While in ministry with his Dad, he also ventured out on various personal projects of his own, such as construction project management and real estate development on projects that ran the spectrum from major hotels and commercial office buildings to single family dwellings.
  • David worked extensively throughout Europe, Latin America, Africa, and Asia, organizing numerous international projects for both ministry and business, and founded a successful advertising and public relations firm, a construction company, and a management consulting firm.
  • In 1990, David combined his business skills and knowledge of the ministry marketplace, becoming President and Chief Executive Officer of the cable television network, The Inspirational Network.

Ministry Needs [ Back to top ]

This organization has not offered MinistryWatch.com with specific needs to be posted on the profile. At such a time that MinistryWatch.com receives a response from the ministry, it will be posted immediately.

Research Analysis

Transparency Grade [ Back to top ]

A letter grade currently has not been assesed for this ministry

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MinistryWatch.com 5 Star Financial Efficiency Ratings [ Back to top ]

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Donor Alert [ Back to top ]

MinistryWatch.com's 2009 list of 30 Donor Alert Ministries

Ministry Statement or Response [ Back to top ]

This organization has not offered MinistryWatch.com with an official statement or response for their profile. This area is meant as a mechanism for the profiled ministry to communicate anything they may choose. It is open ended as to the topic, issues, facts or news to address. It is not negative if there is no official statement as many don’t have anything to add than what is already on the profile. This section is not tied to transparency or to communication in general. Many very open and talkative ministries with us choose not to post an official statement. This section is just an open ended offering to the profiled ministry for anything extra to say as they may choose.

Financial Information:

Financials[ Back to top ]

Balance Sheet
Assets20062005200420032002
Cash$7,485,000$8,403,000$7,197,000$7,174,000$5,688,000
Receivables, Inventories & Prepaids$4,631,000$4,111,000$3,285,000$3,047,000$2,866,000
Short-Term Investments$72,000$55,000$43,000$0$0
Total Current Assets$12,189,000$12,569,000$10,525,000$10,221,000$8,554,000
Long-Term Investments$0$0$0$0$0
Fixed Assets$41,877,000$23,832,000$21,473,000$16,667,000$18,621,000
Other Long-Term Assets$22,153,000$20,512,000$18,990,000$17,736,000$10,263,000
Total Long-Term Assets$64,031,000$44,344,000$40,463,000$34,404,000$28,884,000
TOTAL ASSETS$76,221,000$56,913,000$50,989,000$44,626,000$37,439,000
Liabilities20062005200420032002
Payables & Accrued Expenses$5,887,000$3,640,000$3,557,000$3,106,000$3,192,000
Other Current Liabilities$367,000$563,000$386,000$227,000$815,000
Total Current Liabilities$6,254,000$4,203,000$3,944,000$3,334,000$4,007,000
Debt$1,564,000$1,617,000$2,231,000$4,181,000$5,851,000
Other Long-Term Liabilities$18,236,000$5,164,000$7,459,000$11,662,000$13,983,000
Total Long-Term Liabilities$19,800,000$6,781,000$9,691,000$15,844,000$19,834,000
TOTAL LIABILITIES$26,054,000$10,985,000$13,635,000$19,178,000$23,842,000
Assets20062005200420032002
Unrestricted$50,166,000$45,928,000$37,353,000$25,447,000$13,597,000
Temporarily Restricted$0$0$0$0$0
Permanently Restricted$0$0$0$0$0
NET ASSETS$50,166,000$45,928,000$37,353,000$25,447,000$13,597,000
Revenue and Expenses
Revenue20062005200420032002
Total Contributions$22,206,000$17,071,000$14,886,000$6,855,000$6,257,000
Program Service Revenue$33,970,000$32,894,000$30,868,000$16,003,000$10,646,000
Membership Dues$0$0$0$0$0
Investment Income$213,000$172,000$73,000$72,000$29,000
Other Revenue$0$0$0$7,881,000$14,796,000
Total Other Revenue$34,184,000$33,067,000$30,942,000$23,956,000$25,473,000
TOTAL REVENUE$56,391,000$50,139,000$45,829,000$30,812,000$31,730,000
Expenses20062005200420032002
Program Services$43,759,000$32,816,000$25,249,000$22,840,000$18,765,000
Management & General$3,992,000$5,315,000$5,860,000$3,840,000$3,517,000
Fundraising$4,402,000$2,451,000$2,812,000$1,595,000$2,036,000
TOTAL EXPENSES$52,153,000$40,583,000$33,922,000$28,276,000$24,320,000
Change in Net Assets20062005200420032002
SURPLUS (DEFICIT)$4,237,000$9,556,000$11,906,000$2,536,000$7,410,000
Other Changes in Net Assets$0($981,000)$0$9,314,000($2,117,000)
TOTAL CHANGE IN NET ASSETS$4,237,000$8,574,000$11,906,000$11,850,000$5,293,000

Functional Expenses [ Back to top ]

Funding Ratios20062005200420032002
Grants & Allocations$0$0$0$0$0
Specific Assistance to Individuals$0$0$0$0$0
Benefits Paid To or For Members$0$0$0$0$0
Compensation of Officers, Directors$5,914,000$3,878,000$2,589,000$2,226,000$1,568,000
Other Salaries, Wages$9,554,000$9,167,000$7,606,000$4,956,000$5,206,000
Pension Plan Contributions$0$0$0$0$0
Other Employee Benefits$56,000$76,000$882,000$660,000$499,000
Payroll Taxes$1,181,000$1,065,000$0$9,000$0
Professional Fundraising Fees$0$0$0$0$0
Accounting Fees$0$0$0$0$0
Legal Fees$0$0$0$0$0
Supplies$84,000$91,000$91,000$494,000$307,000
Telephone$398,000$351,000$0$0$0
Postage & Shipping$1,110,000$790,000$697,000$683,000$352,000
Occupancy$799,000$806,000$1,035,000$731,000$693,000
Equipment Rental & Maintenance$0$0$9,000$0$0
Printing & Publications$1,574,000$1,248,000$1,147,000$1,332,000$941,000
Travel$1,327,000$1,106,000$886,000$689,000$480,000
Conferences, Conventions & Meetings$0$0$0$0$0
Interest$1,230,000$369,000$719,000$1,178,000$1,366,000
Depreciation, Depletion etc.$4,699,000$4,197,000$4,683,000$7,307,000$5,881,000
Other Expenses$24,219,000$17,433,000$13,572,000$8,004,000$7,021,000
Total Functional Expenses$52,153,000$40,583,000$33,922,000$28,276,000$24,320,000