Psalm One Ministries

Analysis

Psalm One Ministries is a registered charity in United States, based in Mason, OH. It received its IRS tax-exemption ruling in December 2001, 25 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, Psalm One Ministries reported income of $93k and spending of $72k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $83k to $93k (+12%), an average of +12% a year. Over the whole period it spent 76% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Psalm One Ministries sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 36th percentile within OH. Charities of a similar size with the same main cause include Ministerio Cristiano Evangelico Refugio de Salvacion ($93k), Way Home Mt ($93k) and Houston West Emmaus Community ($93k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $58k against liabilities of $549, net assets of $57k.