Abounding in Faith Inc

Analysis

Abounding in Faith Inc is a registered charity in United States, based in Winter Haven, FL. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Abounding in Faith Inc reported income of $910k and spending of $917k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $550k to $910k (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Abounding in Faith Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Lakeland Family Resource Center Inc ($910k), Samaritan Counseling Center of Southeast Texas ($910k) and PS I Love You Ministries ($910k).

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 $136k (15% of expenses). Other salaries and wages came to $127k. At year end it held assets of $1.6m against liabilities of $1.2m, net assets of $349k. It reported 9 employees.