Magnify Ministries

Analysis

Magnify Ministries is a registered charity in United States, based in Yadkinville, NC. It received its IRS tax-exemption ruling in June 2012, 14 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 December 2023, Magnify Ministries reported income of $116k and spending of $85k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $174k to $116k (-33%), an average of -33% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 103% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Magnify Ministries sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within NC. Charities of a similar size with the same main cause include Live Greater Foundation ($116k), Tribal Rescue Ministries ($116k) and Buddhist Peace Fellowship ($116k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $130k against liabilities of $0, net assets of $130k.