Faithworks Inc

Analysis

Faithworks Inc is a registered charity in United States, based in Winchester, VA. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faithworks Inc reported income of $258k and spending of $250k, spending 97% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $563k to $258k (-54%), an average of -23% a year. The sharpest change came in the year to December 2022, when income dropped by 51%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Faithworks Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within VA. Charities of a similar size with the same main cause include National Church Residences of Shelby ($258k), Carlorene House Inc ($258k) and Jericho Road Inc ($258k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $30k (12% of expenses). Other salaries and wages came to $31k. At year end it held assets of $27k against liabilities of $0, net assets of $27k. It reported 2 employees.