South Street Ministries Inc

Analysis

South Street Ministries Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in January 2009, 17 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, South Street Ministries Inc reported income of $1.0m and spending of $1.0m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $556k to $1.0m (+84%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, South Street Ministries Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Tallgrass Recovery & Sober Living Homes ($1.0m), Halo Project International Foundation ($1.0m) and Ossipee Concerned Citizens Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $87k (8.4% of expenses). Other salaries and wages came to $405k. At year end it held assets of $1.1m against liabilities of $5,288, net assets of $1.1m. It reported 15 employees.