Nonprofit · EIN 31-1245978
PRECIOUS GIFT MINISTRIES
Tax-exempt (reinstated) · BROOKVILLE, OH 45309
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $334,719 | $291,940 | $42,779 | $37,336 | $631 | $36,705 |
| December 31, 2024 | 990 | $266,246 | $298,622 | -$32,376 | $13,879 | $6,213 | $7,666 |
| December 31, 2023 | 990 | $300,107 | $320,328 | -$20,221 | $38,181 | $1,087 | $37,094 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $334,719
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $99,227
- Salaries, compensation and benefits (total)
- $99,227
- Professional fundraising fees
- $0
- Program services (functional)
- $232,476
- Management and general (functional)
- $57,708
- Fundraising (functional)
- $1,756
Balance sheet and other
- Total assets, start of year
- $13,879
- Total assets, end of year
- $37,336
- Total liabilities, end of year
- $631
- Net assets, end of year
- $36,705
- Gross receipts
- $334,719
- Employees
- 1
- Volunteers
- 5
- Year formed
- 1988
- State of legal domicile
- OH
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Donald Parrett | Director Trustee or director, Officer, Highest-paid employee | 60 | $0 | $99,227 |
| Rev Gary Trenum | Trustee Trustee or director | 0 | $0 | $0 |
| Rev William Pepper | Trustee Trustee or director | 0 | $0 | $0 |
| Harold Hennies | Trustee Trustee or director | 0 | $0 | $0 |
| Steve Proeschel | Trustee Trustee or director | 0 | $0 | $0 |
| Theresa Parrett | Vice Director Officer | 10 | $0 | $0 |
| Rhonda Nelson | Secretary/Treasury Officer | 10 | $0 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Donald Parrett | Director Trustee or director, Officer, Highest-paid employee | 60 | $49,928 | $56,882 |
| Rev Gary Trenum | Trustee Trustee or director | 0 | $0 | $0 |
| Rev William Pepper | Trustee Trustee or director | 0 | $0 | $0 |
| Harold Hennies | Trustee Trustee or director | 0 | $0 | $0 |
| Steve Proeschel | Trustee Trustee or director | 0 | $0 | $0 |
| Theresa Parrett | Vice Director Officer | 10 | $0 | $0 |
| Rhonda Nelson | Secretary/Treasury Officer | 10 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Donald Parrett | Director Trustee or director, Officer, Highest-paid employee | 60 | $80,429 | $57,022 |
| Rev Gary Trenum | Trustee Trustee or director | 0 | $0 | $0 |
| Rev William Pepper | Trustee Trustee or director | 0 | $0 | $0 |
| Harold Hennies | Trustee Trustee or director | 0 | $0 | $0 |
| Steve Proeschel | Trustee Trustee or director | 0 | $0 | $0 |
| Theresa Parrett | Vice Director Officer | 10 | $0 | $0 |
| Rhonda Nelson | Secretary/Treasury Officer | 10 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 456, BROOKVILLE, OH 45309-0456
- Principal officer (990 for 2025)
- Donald Parrett, 7239 Pepperton Court, Dayton, OH 45415
- Signed the 990
- Donald Parrett, Director
- Phone
- (937) 305-4746
- Website
- www.preciousgift.org
Mission
Establish churches, train pastors and church leaders, disciple believers, evangelize the non-Christian, and distribute Bibles and Christian literature.
Program accomplishments
- Traveling and salary for preaching and teaching. This includes all general ministry expenses, and I consider all funds used in China as "program expenses" because it is all for the purpose of the ministry. I list all USA expenses as ministry "overhead or "fundraising". Even when I travel to teach in the USA, it will ultimately result in new funds coming into the ministry, so I classify it as "fundraising". This includes one missionary to China and one in Croatia.Expenses $120,142
- Disciple believers, distribute Bibles and Christian literature, train pastors and church leaders, and evangelize the non-Christian.Expenses $102,034
- Distribute funds for other ministries.Expenses $10,300
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 31-1245978
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Religion-related (X21)
- Assets (IRS master file)
- $37,336
- Income (IRS master file)
- $334,719
Revocation and reinstatement
- Exemption revoked
- May 15, 2016
- Posted by the IRS
- August 8, 2016
- Reinstated
- Effective May 15, 2016
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $334,719 | $291,940 | $37,336 | IRS |
| 990 | December 2024 | $266,246 | $298,622 | $13,879 | IRS |
| 990 | December 2023 | $300,107 | $320,328 | $38,181 | XML |
| 990 | December 2022 | $351,927 | $321,638 | $60,392 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1245978).
Questions about PRECIOUS GIFT MINISTRIES
- What is the EIN of PRECIOUS GIFT MINISTRIES?
- The employer identification number (EIN) of PRECIOUS GIFT MINISTRIES is 31-1245978.
- Is PRECIOUS GIFT MINISTRIES tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2016 and reinstated it effective May 15, 2016.
- Are donations to PRECIOUS GIFT MINISTRIES tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PRECIOUS GIFT MINISTRIES file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PRECIOUS GIFT MINISTRIES due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PRECIOUS GIFT MINISTRIES last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of PRECIOUS GIFT MINISTRIES?
- The 990 for the year ended December 31, 2025 names Donald Parrett.
- Who are the officers and directors of PRECIOUS GIFT MINISTRIES?
- The 990 for the year ended December 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does PRECIOUS GIFT MINISTRIES have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $334,719, expenses of $291,940 and total assets of $37,336 at year end.
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