Renewal Ministries Inc

Analysis

Renewal Ministries Inc is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in October 1992, 34 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 December 2023, Renewal Ministries Inc reported income of $2.6m and spending of $2.8m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.6m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Renewal Ministries Inc sits at the 97th 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 88th percentile within MI. Charities of a similar size with the same main cause include Aria University ($2.6m), Nefesh Yehudie Inc ($2.6m) and Harrison Center for the Arts Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 21% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $3.3m against liabilities of $230k, net assets of $3.0m. It reported 32 employees.