Casting Bread Ministries

Analysis

Casting Bread Ministries is a registered charity in United States, based in Blowing Rock, NC. It received its IRS tax-exemption ruling in October 1974, 52 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 June 2023, Casting Bread Ministries reported income of $313k and spending of $355k, spending 114% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $345k to $313k (-9.4%), an average of -9.4% a year. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Casting Bread Ministries sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within NC. Charities of a similar size with the same main cause include Flowertown Players Inc ($313k), Little League Baseball Inc ($313k) and Goleta Valley South Little League Inc ($313k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $87k (24% of expenses). Other salaries and wages came to $15k. At year end it held assets of $122k against liabilities of $1,280, net assets of $121k.