Lake Area Shared Ministries

Analysis

Lake Area Shared Ministries is a registered charity in United States, based in Quinlan, TX. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Area Shared Ministries reported income of $192k and spending of $196k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $115k to $192k (+67%), an average of +67% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lake Area Shared Ministries sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include 88 5 the Truth Inc ($192k), Ministry for Priestly Support ($192k) and Plymouth United Church of Christ ($192k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $143k against liabilities of $0, net assets of $143k.