Sri Venkateswara Temple and Cultural Center Inc

Analysis

Sri Venkateswara Temple and Cultural Center Inc is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in August 2008, 18 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 December 2023, Sri Venkateswara Temple and Cultural Center Inc reported income of $1.7m and spending of $1.1m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.7m (+10.0%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 64% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Sri Venkateswara Temple and Cultural Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Freeway Ministries Inc ($1.7m), Harvest Ministries of Roswell ($1.7m) and Self Enquiry Life Fellowship ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 86% of the total. Other salaries and wages came to $203k. At year end it held assets of $11.0m against liabilities of $529k, net assets of $10.4m. It reported 7 employees.