Street Psalms

Analysis

Street Psalms is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in July 2023, 3 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Street Psalms reported income of $514k and spending of $792k, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $514k (-61%), an average of -21% a year. The sharpest change came in the year to June 2021, when income rose by 238%. Over the whole period it spent 79% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Street Psalms sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within WA. Charities of a similar size with the same main cause include South American Foreign Missions Inc ($514k), Georgia Food & Resource Center Inc ($514k) and Above & Beyond Counseling Ministries Inc ($514k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $265k (33% of expenses). It paid $12k in professional fundraising fees. At year end it held assets of $979k against liabilities of $57k, net assets of $922k. It reported 2 employees.