Faith Sound Inc

Analysis

Faith Sound Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in July 1964, 62 years ago. 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 Sound Inc reported income of $190k and spending of $196k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $146k to $190k (+30%), an average of +6.9% a year. The sharpest change came in the year to December 2020, when income rose by 24%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faith Sound Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within MN. Charities of a similar size with the same main cause include PTA California Congress of Parents Teachers & Students Inc ($190k), PTA North Carolina Congress ($190k) and Homeland Park Fire Department Inc ($190k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. Other salaries and wages came to $64k. At year end it held assets of $105k against liabilities of $0, net assets of $105k. It reported 4 employees.