World Covenant Ministries Inc

Analysis

World Covenant Ministries Inc is a registered charity in United States, based in Haltom City, TX. It received its IRS tax-exemption ruling in January 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, World Covenant Ministries Inc reported income of $2.8m and spending of $2.9m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $997k to $2.8m (+180%), an average of +29% a year. The sharpest change came in the year to December 2021, when income rose by 134%. Over the whole period it spent 99% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, World Covenant Ministries Inc sits at the 97th percentile: it is larger than about 97% 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 Creative Ministries Inc ($2.8m), Sisters of Charity of St Augustine Health System Inc ($2.8m) and Vision Beyond Borders Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $329k (12% of expenses). Other salaries and wages came to $333k. At year end it held assets of $2.6m against liabilities of $2.1m, net assets of $445k. It reported 40 employees.