Icon Ministries Inc

Analysis

Icon Ministries Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2006, 20 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, Icon Ministries Inc reported income of $377k and spending of $358k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $229k to $377k (+64%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 24%. Over the whole period it spent 91% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Icon Ministries Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include Bible Passages ($377k), Downtown Ministries Inc ($377k) and Chugh Foundation ($377k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $286k (80% of expenses). At year end it held assets of $138k against liabilities of $0, net assets of $138k. It reported 6 employees.