The Prayer Covenant Inc

Analysis

The Prayer Covenant Inc is a registered charity in United States, based in New Albany, OH. It received its IRS tax-exemption ruling in May 2013, 13 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, The Prayer Covenant Inc reported income of $163k and spending of $177k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $711k to $163k (-77%), an average of -31% a year. The sharpest change came in the year to December 2021, when income rose by 94%. Over the whole period it spent 114% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, The Prayer Covenant Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within OH. Charities of a similar size with the same main cause include Centro Cristiano Faro de Luz ($163k), Forerunner Ministries Inc ($163k) and Father Flanagan League Society of Devotion ($163k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $52k against liabilities of $1,993, net assets of $50k.