Equipping with Truth Ministries Inc

Analysis

Equipping with Truth Ministries Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in July 2008, 18 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, Equipping with Truth Ministries Inc reported income of $697k and spending of $666k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $521k to $697k (+34%), an average of +7.6% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 80% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Equipping with Truth Ministries Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Encounter Revival Ministries Inc ($697k), Treasure Coast Educational Media Inc ($698k) and Association of Spiritual Renewal ($697k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $129k. At year end it held assets of $1.3m against liabilities of $324, net assets of $1.3m.