Leap of Faith Arts Ministries

Analysis

Leap of Faith Arts Ministries is a registered charity in United States, based in Plainfield, IL. It received its IRS tax-exemption ruling in November 2012, 14 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Leap of Faith Arts Ministries reported income of $204k and spending of $188k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $169k to $204k (+21%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Leap of Faith Arts Ministries sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Institute for Mediterranean Studies ($204k), Chicago Video Project ($204k) and Art Maker LLC ($204k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $55k (29% of expenses). At year end it held assets of $44k against liabilities of $17k, net assets of $27k. It reported 8 employees.