Healing for the Soul Ministries Inc

Analysis

Healing for the Soul Ministries Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2010, 16 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, Healing for the Soul Ministries Inc reported income of $52k and spending of $44k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $69k to $52k (-25%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Healing for the Soul Ministries Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within NY. Charities of a similar size with the same main cause include Joy House Ministries Inc ($52k), National Order of Trench Rats ($52k) and Westla Homeless ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1 against liabilities of $0, net assets of $1.