Psalm 1 3 Ministries

Analysis

Psalm 1 3 Ministries is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in June 2003, 23 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, Psalm 1 3 Ministries reported income of $236k and spending of $264k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $314k to $236k (-25%), an average of -7.0% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Psalm 1 3 Ministries sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Child Safety and Protection Network ($236k), Strategic Global Mission ($236k) and Myanmar American Buddhist Association ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $48k (18% of expenses). At year end it held assets of $263k against liabilities of $2,163, net assets of $261k. It reported 1 employees.