Banner of Faith Ministries Inc

Analysis

Banner of Faith Ministries Inc is a registered charity in United States, based in San Juan, TX. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Banner of Faith Ministries Inc reported income of $565k and spending of $370k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $241k to $565k (+135%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Banner of Faith Ministries Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Inclusive Entrepreneurs Foundation ($565k), Maple Community Development Corporation ($565k) and Alabama Association of Independent Colleges and Universities ($565k).

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 $28k (7.6% of expenses). At year end it held assets of $306k against liabilities of $0, net assets of $306k.