Iron Sharpens Iron Inc

Analysis

Iron Sharpens Iron Inc is a registered charity in United States, based in West Hartford, CT. It received its IRS tax-exemption ruling in June 2008, 18 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 June 2023, Iron Sharpens Iron Inc reported income of $285k and spending of $238k, spending 83% of its income. Across the 4 years on record, from June 2019 to June 2023, income fell from $657k to $285k (-57%), an average of -24% a year. The sharpest change came in the year to June 2020, when income dropped by 43%. Over the whole period it spent 103% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Iron Sharpens Iron Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within CT. Charities of a similar size with the same main cause include Casa Del Padre Inc ($285k), Mtn2sea Ministries Inc ($285k) and Camp Witness Bible Conference Assoc ($285k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $20k (8.6% of expenses). Other salaries and wages came to $49k. At year end it held assets of $34k against liabilities of $257k, net assets of -$223k. It reported 4 employees.