Shores of Grace Ministries

Analysis

Shores of Grace Ministries is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in November 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, Shores of Grace Ministries reported income of $1.0m and spending of $901k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $621k to $1.0m (+66%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 52%. 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, Shores of Grace Ministries sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Need Him National Media Outreach ($1.0m), Fullness in Christ Fellowship ($1.0m) and Project 1 27 ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $144k (16% of expenses). Other salaries and wages came to $7,349. At year end it held assets of $269k against liabilities of $3,708, net assets of $266k. It reported 3 employees.