Barnabas Ministries Inc

Analysis

Barnabas Ministries Inc is a registered charity in United States, based in Hopkinton, MA. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2024, Barnabas Ministries Inc reported income of $332k and spending of $337k, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $268k to $332k (+24%), an average of +4.3% a year. Over the whole period it spent 107% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Barnabas Ministries Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within MA. Charities of a similar size with the same main cause include Am Shalem Inc ($332k), David McDonald Ministries ($332k) and Undivided Heart Inc ($331k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $89k (27% of expenses). Other salaries and wages came to $176k. At year end it held assets of $36k against liabilities of $923, net assets of $35k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.