Bible Memory Program Inc

Analysis

Bible Memory Program Inc is a registered charity in United States, based in Goshen, IN. It received its IRS tax-exemption ruling in May 1967, 59 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, Bible Memory Program Inc reported income of $312k and spending of $302k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $283k to $312k (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 82% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Bible Memory Program Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within IN. Charities of a similar size with the same main cause include Inter-Faith Families Project Inc ($312k), Penn Valley Christian Retreat ($312k) and Ten Talents Foundation ($312k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $64k (21% of expenses). Other salaries and wages came to $63k. It paid $1,000 in professional fundraising fees. At year end it held assets of $489k against liabilities of $3,242, net assets of $486k. It reported 5 employees.