Audio Scripture Ministries

Analysis

Audio Scripture Ministries is a registered charity in United States, based in Holland, MI. It received its IRS tax-exemption ruling in May 1964, 62 years ago. 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 September 2023, Audio Scripture Ministries reported income of $1.6m and spending of $1.3m, spending 82% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.1m to $1.6m (+48%), an average of +10% a year. The sharpest change came in the year to September 2022, when income rose by 58%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Audio Scripture Ministries sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MI. Charities of a similar size with the same main cause include Florida Camp for Children and Youth with Diabetes Inc ($1.6m), Rolf Institute ($1.6m) and Park Court Limited ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $93k (7.2% of expenses). Other salaries and wages came to $439k. At year end it held assets of $2.3m against liabilities of $7,763, net assets of $2.3m. It reported 11 employees.