587 Ministries Inc

Analysis

587 Ministries Inc is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in January 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, 587 Ministries Inc reported income of $146k and spending of $130k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $218k to $146k (-33%), an average of -9.5% a year. The sharpest change came in the year to December 2020, when income dropped by 45%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, 587 Ministries Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 49th percentile within CA. Charities of a similar size with the same main cause include Touchpointe Marriage & Family Resources ($146k), Leahs Hope Inc ($146k) and Feeding Wise Kids ($146k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $50k (38% of expenses). At year end it held assets of $645k against liabilities of $2,484, net assets of $643k. It reported 1 employees.