Faith Memorial Church

Analysis

Faith Memorial Church is a registered charity in United States, based in Cleveland, TN. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faith Memorial Church reported income of $200k and spending of $216k, spending 108% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $207k to $200k (-3.1%), an average of -1.1% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Faith Memorial Church sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 55th percentile within TN. Charities of a similar size with the same main cause include Friends of Chabad at McGill University ($200k), Prodigal Sons & Daughters Inc ($200k) and Monarch Ministries ($200k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $64k (30% of expenses). Other salaries and wages came to $21k. At year end it held assets of $90k against liabilities of $0, net assets of $90k. It reported 2 employees.