The Springs Ministries Inc

Analysis

The Springs Ministries Inc is a registered charity in United States, based in Gladwin, MI. It received its IRS tax-exemption ruling in May 2000, 26 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, The Springs Ministries Inc reported income of $942k and spending of $925k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $874k to $942k (+7.8%), an average of +1.9% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 83% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, The Springs Ministries Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Churches Affiliated Child Care Center Inc ($942k), Presbyterian Village-Holly ($942k) and Child Evangelism Fellowship Inc ($941k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $60k (6.5% of expenses). Other salaries and wages came to $272k. At year end it held assets of $2.5m against liabilities of $732k, net assets of $1.8m. It reported 31 employees.