Grow Gospel Initiatives

Analysis

Grow Gospel Initiatives is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in March 2012, 14 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, Grow Gospel Initiatives reported income of $1.5m and spending of $465k, leaving 69% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $230k to $1.5m (+542%), an average of +59% a year. The sharpest change came in the year to December 2022, when income rose by 132%. Over the whole period it spent 68% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Grow Gospel Initiatives sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 87th percentile within TX. Charities of a similar size with the same main cause include Dawat-E-Islami Inc ($1.5m), San Ramon Valley Islamic Center ($1.5m) and Oakton Foundation Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $78k. At year end it held assets of $1.3m against liabilities of $0, net assets of $1.3m. It reported 1 employees.