Way Out Ministries Inc

Analysis

Way Out Ministries Inc is a registered charity in United States, based in Hawaiian GDNS, CA. It received its IRS tax-exemption ruling in October 1985, 41 years ago. 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, Way Out Ministries Inc reported income of $516k and spending of $563k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $359k to $516k (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Way Out Ministries Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within CA. Charities of a similar size with the same main cause include Precious Ones Learning Center Inc ($516k), Berlin Retirement Homes Inc ($516k) and Retina Research & Development Foundation ($516k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $86k (15% of expenses). Other salaries and wages came to $155k. At year end it held assets of $856k against liabilities of $113k, net assets of $742k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.