Soulmedic Media Group Inc

Analysis

Soulmedic Media Group Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in July 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 December 2023, Soulmedic Media Group Inc reported income of $5.0m and spending of $2.4m, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $885k to $5.0m (+465%), an average of +54% a year. The sharpest change came in the year to December 2022, when income rose by 126%. Over the whole period it spent 50% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Soulmedic Media Group Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within IN. Charities of a similar size with the same main cause include International Dominican Foundation ($5.0m), First Fruits of Zion Inc ($5.0m) and Word of Life International Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $289k (12% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $7.1m against liabilities of $272k, net assets of $6.8m. It reported 80 employees.