Sunshine Gospel Ministries

Analysis

Sunshine Gospel Ministries is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1947, 79 years ago. 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, Sunshine Gospel Ministries reported income of $2.2m and spending of $2.1m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.2m (+40%), an average of +8.7% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sunshine Gospel Ministries sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include Nashville Inner City Ministry Inc ($2.2m), United States Public Interest Research Group Education Fund ($2.2m) and Breathe Southern California ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $93k (4.4% of expenses). Other salaries and wages came to $924k. At year end it held assets of $3.7m against liabilities of $1.1m, net assets of $2.7m. It reported 36 employees.