Casting Nets Ministries Inc

Analysis

Casting Nets Ministries Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in August 2011, 15 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, Casting Nets Ministries Inc reported income of $360k and spending of $397k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $375k to $360k (-4.0%), an average of -1.0% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 104% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Casting Nets Ministries Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within KS. Charities of a similar size with the same main cause include Creation Instruction Association Inc ($360k), Remnant Foundation ($360k) and Servants Ministry ($360k).

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 $145k (37% of expenses). At year end it held assets of $83k against liabilities of $115k, net assets of -$32k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.