Masterkey Ministries of Grayson County

Analysis

Masterkey Ministries of Grayson County is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in May 2010, 16 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 May 2023, Masterkey Ministries of Grayson County reported income of $2.6m and spending of $2.4m, spending 95% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $1.1m to $2.6m (+142%), an average of +25% a year. The sharpest change came in the year to May 2021, when income rose by 85%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Masterkey Ministries of Grayson County sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include Safe Alternatives to Violent Environments Inc ($2.6m), Racine County Economic Development Corporation ($2.6m) and Youth & Family Services Inc ($2.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 98% and program service revenue 2.3% of the total. Other salaries and wages came to $375k. At year end it held assets of $1.1m against liabilities of $450k, net assets of $646k. It reported 21 employees.