True Purpose Ministries

Analysis

True Purpose Ministries is a registered charity in United States, based in Maryville, TN. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, True Purpose Ministries reported income of $1.7m and spending of $1.4m, spending 82% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.3m to $1.7m (+36%), an average of +6.3% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, True Purpose Ministries sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include National Faith Homebuyers ($1.7m), Community Homes ($1.7m) and Clay County Habitat for Humanity Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $70k (5.0% of expenses). Other salaries and wages came to $544k. At year end it held assets of $1.9m against liabilities of $1.6m, net assets of $292k.