RBC Ministries

Analysis

RBC Ministries is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in May 1943, 83 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 March 2023, RBC Ministries reported income of $64.9m and spending of $66.0m, spending 102% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $49.0m to $64.9m (+32%), an average of +7.3% a year. The sharpest change came in the year to March 2021, when income rose by 19%. Over the whole period it spent 98% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, RBC Ministries 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 MI. Charities of a similar size with the same main cause include Wright Center Medical Group ($64.8m), Word of Life Fellowship Inc ($68.7m) and Hillel the Foundation for Jewish Campus Life ($64.1m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 88% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $1.6m (2.4% of expenses). Other salaries and wages came to $18.5m. At year end it held assets of $21.3m against liabilities of $5.2m, net assets of $16.1m. It reported 305 employees.