B L E S S E D Ministries Inc

Analysis

B L E S S E D Ministries Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in September 2002, 24 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 2021, B L E S S E D Ministries Inc reported income of $2.0m and spending of $1.9m, spending 95% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $1.1m to $2.0m (+87%), an average of +37% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 106% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, B L E S S E D Ministries Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include Wisdom International Inc ($2.0m), Tu Vien Dai Bi ($2.0m) and Global Mission ($2.0m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $340k (18% of expenses). Other salaries and wages came to $208k. At year end it held assets of $1.2m against liabilities of $723k, net assets of $516k. It reported 16 employees.