Penn Ministries Inc

Analysis

Penn Ministries Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in December 2015, 11 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, Penn Ministries Inc reported income of $92k and spending of $66k, leaving 28% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $238k to $92k (-62%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 76% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Penn Ministries Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 37th percentile within TX. Charities of a similar size with the same main cause include Tay Phuong Buddhist Monastery ($92k), Main & Plain Inc ($92k) and Hope4heartsga Inc ($92k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $189k against liabilities of $10k, net assets of $178k.