Seeds of Faith Inc

Analysis

Seeds of Faith Inc is a registered charity in United States, based in Somersworth, NH. It received its IRS tax-exemption ruling in March 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Seeds of Faith Inc reported income of $467k and spending of $603k, spending 129% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $718k to $467k (-35%), an average of -13% a year. The sharpest change came in the year to December 2022, when income dropped by 45%. Over the whole period it spent 73% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seeds of Faith Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within NH. Charities of a similar size with the same main cause include My Chosen Ones Inc ($466k), Compassion at Work ($467k) and Farm Ministries Inc ($466k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $54k (8.9% of expenses). Other salaries and wages came to $276k. At year end it held assets of $1.3m against liabilities of $220k, net assets of $1.1m. It reported 18 employees.