Friends of Faith Ministry

Analysis

Friends of Faith Ministry is a registered charity in United States, based in Bartlett, TN. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Friends of Faith Ministry reported income of $163k and spending of $167k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $129k to $163k (+26%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 26%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of Faith Ministry sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within TN. Charities of a similar size with the same main cause include Social Work Connection Inc ($163k), Atkore Family Foundation ($163k) and Brian Gibbons Homeless Outreach Inc ($163k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. At year end it held assets of $99k against liabilities of $22k, net assets of $77k.