Inspirational Network/ Inspiration Ministries/ INSP 
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
Mailing address:
3000 World Reach Drive
Indian Land, SC 29707-9707
Website: www.insp.com
Phone: (704) 525-9800
Email: info@insp.com
Organization details
EIN: 570931093
CEO/President: David Cerullo
Chairman: David Cerullo
Board size: 3
Founder:
Year founded: 1990
Tax deductible: Yes
Fiscal year end:
Member of ECFA: No
Member of ECFA since:
Purpose
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
- 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
Mission statement
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.
Statement of faith
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.
Financial efficiency ratings
Sector: Radio/ TV Stations
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 419 of 429 | 13 of 16 |
| Fund acquisition rating | | 363 of 429 | 13 of 16 |
| Resource allocation rating | | 401 of 429 | 12 of 16 |
| Asset utilization rating | | 389 of 429 | 13 of 16 |
Financial ratios
| Funding ratios | Median % for all ministries in MW database | 2017 | 2016 | 2015 | 2014 | 2013 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 7% | 14% | 13% | 11% | 14% | 20% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 6% | 12% | 11% | 9% | 9% | 4% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 95% | 82% | 81% | 81% | 65% | 21% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 10% | 10% | 10% | 12% | 8% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 5% | 18% | 19% | 19% | 35% | 79% |
| Operating ratios | Median % for all ministries in MW database | 2017 | 2016 | 2015 | 2014 | 2013 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 67% | 67% | 69% | 72% | 81% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 118% | 108% | 95% | 73% | 56% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 79% | 73% | 66% | 53% | 45% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | -18% | -8% | 5% | 27% | 44% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | -4% | -2% | 2% | 10% | 58% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 23% | 23% | 21% | 15% | 12% |
| Investing ratios | Median measure for all ministries in MW database | 2017 | 2016 | 2015 | 2014 | 2013 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.27 | 0.24 | 0.23 | 0.27 | 0.27 | 0.68 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.53 | 3.55 | 3.64 | 3.55 | 4.15 | 3.51 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.48 | 0.85 | 0.84 | 0.96 | 1.14 | 2.39 |
| Liquidity ratios | Median measure for all ministries in MW database | 2017 | 2016 | 2015 | 2014 | 2013 |
Current ratio Current ratio = Total current assets / Total current liabilities | 9.02 | 32.95 | 29.76 | 39.85 | 42.52 | 22.22 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.11 | 0.03 | 0.03 | 0.03 | 0.02 | 0.04 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.11 | 13.62 | 13.80 | 12.16 | 10.28 | 4.80 |
| Solvency ratios | Median % for all ministries in MW database | 2017 | 2016 | 2015 | 2014 | 2013 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 3% | 4% | 4% | 4% | 8% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 2% | 2% | 3% | 3% | 4% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 64% | 402% | 418% | 354% | 348% | 136% |
Financials
| Balance sheet | |||||
| Assets | 2017 | 2016 | 2015 | 2014 | 2013 |
| Cash | $38,768,411 | $38,940,136 | $38,031,228 | $32,248,125 | $25,066,279 |
| Receivables, inventories, prepaids | $2,091,258 | $2,339,405 | $2,567,170 | $3,174,202 | $13,678,926 |
| Short-term investments | $14,943 | $14,296 | $22,030 | $23,135 | $24,201 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $40,874,612 | $41,293,837 | $40,620,428 | $35,445,462 | $38,769,406 |
| Long-term investments | $510,125 | $290,290 | $0 | $0 | $0 |
| Fixed assets | $59,440,190 | $57,204,146 | $56,625,274 | $58,894,374 | $62,796,703 |
| Other long-term assets | $44,431,956 | $51,486,371 | $46,765,573 | $52,731,073 | $34,543,118 |
| Total long-term assets | $104,382,271 | $108,980,807 | $103,390,847 | $111,625,447 | $97,339,821 |
| Total assets | $145,256,883 | $150,274,644 | $144,011,275 | $147,070,909 | $136,109,227 |
| Liabilities | 2017 | 2016 | 2015 | 2014 | 2013 |
| Payables and accrued expenses | $1,240,351 | $1,180,933 | $981,548 | $805,951 | $1,521,247 |
| Other current liabilities | $0 | $206,850 | $37,815 | $27,707 | $223,290 |
| Total current liabilities | $1,240,351 | $1,387,783 | $1,019,363 | $833,658 | $1,744,537 |
| Debt | $3,100,000 | $3,416,635 | $3,766,357 | $4,099,967 | $4,993,874 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $480,920 | $487,374 | $849,105 | $1,653,287 | $3,602,883 |
| Total long-term liabilities | $3,580,920 | $3,904,009 | $4,615,462 | $5,753,254 | $8,596,757 |
| Total liabilities | $4,821,271 | $5,291,792 | $5,634,825 | $6,586,912 | $10,341,294 |
| Net assets | 2017 | 2016 | 2015 | 2014 | 2013 |
| Unrestricted | $140,435,612 | $144,982,852 | $138,376,450 | $140,483,997 | $125,767,933 |
| Temporarily restricted | $0 | $0 | $0 | $0 | $0 |
| Permanently restricted | $0 | $0 | $0 | $0 | $0 |
| Net assets | $140,435,612 | $144,982,852 | $138,376,450 | $140,483,997 | $125,767,933 |
| Revenues and expenses | |||||
| Revenue | 2017 | 2016 | 2015 | 2014 | 2013 |
| Total contributions | $24,297,965 | $26,103,806 | $33,568,497 | $35,906,103 | $35,239,425 |
| Program service revenue | $3,790,438 | $4,636,627 | $2,207,797 | $12,040,634 | $56,347,249 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $520,332 | $349,217 | $4,395,094 | $6,144,821 | $44,018,268 |
| Other revenue | $1,046,230 | $1,046,230 | $1,046,230 | $1,046,230 | $30,000,000 |
| Total other revenue | $5,357,000 | $6,032,074 | $7,649,121 | $19,231,685 | $130,365,517 |
| Total revenue | $29,654,965 | $32,135,880 | $41,217,618 | $55,137,788 | $165,604,942 |
| Expenses | 2017 | 2016 | 2015 | 2014 | 2013 |
| Program services | $23,468,612 | $23,362,811 | $27,107,025 | $29,231,744 | $74,757,747 |
| Management and general | $8,008,671 | $7,853,622 | $8,234,376 | $6,156,214 | $10,876,236 |
| Fundraising | $3,439,854 | $3,480,402 | $3,726,895 | $5,033,766 | $6,989,369 |
| Total expenses | $34,917,137 | $34,696,835 | $39,068,296 | $40,421,724 | $92,623,352 |
| Change in net assets | 2017 | 2016 | 2015 | 2014 | 2013 |
| Surplus (deficit) | ($5,262,172) | ($2,560,955) | $2,149,322 | $14,716,064 | $72,981,590 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($5,262,172) | ($2,560,955) | $2,149,322 | $14,716,064 | $72,981,590 |
Response from ministry
No response has been provided by this ministry.
History
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:"- David Cerullo
7910 Crescent Executive Drive, Suite 500, Charlotte, NC 28217 - John Groenke
10202 Granger Road, Unit B, Garfield Heights, OH 44125 - Barbara Cerullo
7910 Crescent Executive Drive, Suite 500, Charlotte, NC 28217
- David Cerullo
- 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.