Support Ministries Inc

Analysis

Support Ministries Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in March 1989, 37 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, Support Ministries Inc reported income of $1.2m and spending of $1.2m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $894k to $1.2m (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Support Ministries Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Hosanna Industries Inc ($1.2m), Ibukun Comprehensive Community Services Inc ($1.2m) and Neighbors Helping Neighbors Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Other salaries and wages came to $593k. At year end it held assets of $2.0m against liabilities of $195k, net assets of $1.8m. It reported 30 employees.