Faith Apostolic Ministries

Analysis

Faith Apostolic Ministries is a registered charity in United States, based in Gilmer, TX. It received its IRS tax-exemption ruling in October 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Faith Apostolic Ministries reported income of $252k and spending of $214k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $119k to $252k (+112%), an average of +112% a year. The sharpest change came in the year to December 2023, when income rose by 112%. Over the whole period it spent 80% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Faith Apostolic Ministries sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Mt Baker Bibleway Camp ($252k), Share All Our Blessings Inc ($252k) and Victorious Life Church ($252k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $26k (12% of expenses). At year end it held assets of $256k against liabilities of $2,360, net assets of $253k.