Sikhnet Inc

Analysis

Sikhnet Inc is a registered charity in United States, based in Cypress, TX. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Sikhnet Inc reported income of $1.0m and spending of $1.1m, spending 105% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $862k to $1.0m (+18%), an average of +5.6% a year. The sharpest change came in the year to June 2021, when income rose by 69%. Over the whole period it spent 73% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Sikhnet Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Adventive Cross Cultural Initiatives ($1.0m), Healing Grace Ministries Inc ($1.0m) and Heal Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $177k (17% of expenses). Other salaries and wages came to $296k. At year end it held assets of $1.5m against liabilities of $38k, net assets of $1.5m. It reported 8 employees.