Galilee Mission to Fishermen Inc

Analysis

Galilee Mission to Fishermen Inc is a registered charity in United States, based in Peace Dale, RI. It received its IRS tax-exemption ruling in March 1985, 41 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2023, Galilee Mission to Fishermen Inc reported income of $1.7m and spending of $1.3m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $982k to $1.7m (+72%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 45%. Over the whole period it spent 84% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Galilee Mission to Fishermen Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within RI. Charities of a similar size with the same main cause include Notre Dame Housing Development Fund Company Inc ($1.7m), Corona Community Villas Inc ($1.7m) and Tenants to Homeowners Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $90k (7.1% of expenses). Other salaries and wages came to $584k. At year end it held assets of $2.1m against liabilities of $38k, net assets of $2.1m. It reported 26 employees.