Gba Ships Florence Inc

Analysis

Gba Ships Florence Inc is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in July 2007, 19 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Gba Ships Florence Inc reported income of $4.3m and spending of $4.7m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.3m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 109% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Gba Ships Florence Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include Family Missions Company ($4.3m), International Outreach Ministries Inc ($4.3m) and Word Broadcasting Network Inc ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% of the total. Compensation of current officers, directors and key employees was $212k (4.5% of expenses). Other salaries and wages came to $1.2m. It paid $78k in professional fundraising fees. At year end it held assets of $3.5m against liabilities of $423k, net assets of $3.1m. It reported 79 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.