Society for the Increase of the Ministry

Analysis

Society for the Increase of the Ministry is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Society for the Increase of the Ministry reported income of $291k and spending of $592k, spending 204% of what it took in. Across the 5 years on record, from June 2018 to June 2023, income fell from $2.1m to $291k (-86%), an average of -39% a year. The sharpest change came in the year to June 2020, when income rose by 786%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Society for the Increase of the Ministry sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within CT. Charities of a similar size with the same main cause include Vedanta Spiritual & Holistic Retreat ($291k), Grace Christian Tutoring & Learning Center Inc ($291k) and Tarrant Literacy Coalition ($291k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% of the total. Compensation of current officers, directors and key employees was $155k (26% of expenses). Other salaries and wages came to $93k. At year end it held assets of $4.3m against liabilities of $27k, net assets of $4.3m. It reported 2 employees.