Cherry Street Mission Ministries

Analysis

Cherry Street Mission Ministries is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in June 1950, 76 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Cherry Street Mission Ministries reported income of $7.0m and spending of $7.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.2m to $7.0m (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2022, when income rose by 28%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cherry Street Mission Ministries sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Asbury Points Inc ($7.0m), Stephen Center Inc ($7.0m) and Louisville Metro Affordable Housing Trust Fund Inc ($7.0m).

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 $171k (2.4% of expenses). Other salaries and wages came to $2.7m. It paid $250k in professional fundraising fees. At year end it held assets of $10.5m against liabilities of $575k, net assets of $9.9m. It reported 130 employees.