Iron Sharpens Iron Ministries Inc

Analysis

Iron Sharpens Iron Ministries Inc is a registered charity in United States, based in Utopia, TX. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Iron Sharpens Iron Ministries Inc reported income of $1.6m and spending of $1.2m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $264k to $1.6m (+506%), an average of +57% a year. The sharpest change came in the year to December 2022, when income rose by 212%. Over the whole period it spent 64% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Iron Sharpens Iron Ministries Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within TX. Charities of a similar size with the same main cause include Paul Wilbur Ministries Inc ($1.6m), Torah Schools for Israel ($1.6m) and Mark Driscoll Ministries ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $304k (25% of expenses). At year end it held assets of $1.7m against liabilities of $11k, net assets of $1.7m. It reported 1 employees.