Faith Hope and Love Global Ministries

Analysis

Faith Hope and Love Global Ministries is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Faith Hope and Love Global Ministries reported income of $211k and spending of $205k, spending 97% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $418k to $211k (-50%), an average of -20% a year. The sharpest change came in the year to December 2021, when income dropped by 30%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faith Hope and Love Global Ministries sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within MN. Charities of a similar size with the same main cause include Friends of the University Park Public Library ($211k), Bryant Woods Montessori Childrens House Inc ($211k) and Bridgeport Hope School Inc ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $122k (60% of expenses). Other salaries and wages came to $7,064. At year end it held assets of $369k against liabilities of $155k, net assets of $214k. It reported 2 employees.