Provident Ministries Ltd

Analysis

Provident Ministries Ltd is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in July 2005, 21 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Provident Ministries Ltd reported income of $2.6m and spending of $2.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $7.2m to $2.6m (-65%), an average of -23% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 99% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Provident Ministries Ltd sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within IN. Charities of a similar size with the same main cause include Chapin We Care Center ($2.5m), House of Mercy ($2.6m) and Friendship Circle New Jersey Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (3.0% of expenses). It paid $8,781 in professional fundraising fees. At year end it held assets of $1.6m against liabilities of $1.2m, net assets of $359k. It reported 8 employees.