Silk Wave Mission

Analysis

Silk Wave Mission is a registered charity in United States, based in LA Mirada, CA. It received its IRS tax-exemption ruling in May 2007, 19 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 June 2024, Silk Wave Mission reported income of $2.5m and spending of $2.7m, spending 108% of what it took in. Across the 6 years on record, from December 2019 to June 2024, income grew from $1.0m to $2.5m (+143%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 117%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Silk Wave Mission 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 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Aleph-Alliance for Jewish Renewal ($2.5m), Great Harvest Food Pantry Inc ($2.5m) and Remerge Inc ($2.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $53k (1.9% of expenses). Other salaries and wages came to $198k. At year end it held assets of $531k against liabilities of $17k, net assets of $514k. It reported 11 employees.