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
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

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

CategoryRatingOverall rankSector rank
Overall efficiency rating421 of 43014 of 16
Fund acquisition rating366 of 43014 of 16
Resource allocation rating404 of 43013 of 16
Asset utilization rating392 of 43014 of 16

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20172016201520142013
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 ratiosMedian % for
all ministries in
MW database
20172016201520142013
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%67%67%69%72%81%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%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
1%-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
10%23%23%21%15%12%
 
Investing ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.320.240.230.270.270.68
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.533.553.643.554.153.51
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.530.850.840.961.142.39
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.0932.9529.7639.8542.5222.22
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.100.030.030.030.020.04
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.0713.6213.8012.1610.284.80
 
Solvency ratiosMedian % for
all ministries in
MW database
20172016201520142013
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%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
63%402%418%354%348%136%

Financials

Balance sheet
 
Assets20172016201520142013
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
 
Liabilities20172016201520142013
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 assets20172016201520142013
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
 
Revenue20172016201520142013
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
 
Expenses20172016201520142013
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 assets20172016201520142013
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:"
    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.

Program accomplishments


Needs