Well of Grace Ministries Incorporated

Analysis

Well of Grace Ministries Incorporated is a registered charity in United States, based in Stevensville, MI. It received its IRS tax-exemption ruling in April 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Well of Grace Ministries Incorporated reported income of $245k and spending of $160k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $165k to $245k (+48%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 74% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Well of Grace Ministries Incorporated sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Oakland Catholic Worker ($245k), Greenwood Senior Citizens Center ($245k) and Just the Crumbs Inc ($245k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $4,680 (2.9% of expenses). Other salaries and wages came to $103k. At year end it held assets of $246k against liabilities of $2,131, net assets of $243k. It reported 11 employees.