Psalm 119 Association Inc

Analysis

Psalm 119 Association Inc is a registered charity in United States, based in Titusville, FL. It received its IRS tax-exemption ruling in August 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 June 2024, Psalm 119 Association Inc reported income of $733k and spending of $655k, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $487k to $733k (+50%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 80% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Psalm 119 Association Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Rust Street Ministries ($733k), Ecs Ministries ($733k) and East Texas Baptist Encampment ($732k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $93k (14% of expenses). Other salaries and wages came to $45k. At year end it held assets of $2.4m against liabilities of $6,741, net assets of $2.4m. It reported 2 employees.