United Faith Ministries Inc

Analysis

United Faith Ministries Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in September 2019, 7 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, United Faith Ministries Inc reported income of $49.3m and spending of $53.8m, spending 109% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $34.8m to $49.3m (+42%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, United Faith Ministries Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Yeshivat Darche Eres Inc ($48.4m), Andrew Wommack Ministries Inc ($49.4m) and Tyndale House Ministries ($48.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $350k (0.7% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $11.6m against liabilities of $20.5m, net assets of -$8.9m. It reported 148 employees.