First Fruit Ministries

Analysis

First Fruit Ministries is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in January 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 (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, First Fruit Ministries reported income of $3.4m and spending of $3.2m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $3.4m (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, First Fruit Ministries sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Keren Yom-Tov Inc ($3.4m), Group Cares ($3.4m) and Lantern Foundation ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $725k. At year end it held assets of $1.7m against liabilities of $348k, net assets of $1.4m. It reported 23 employees.