Veranda Ministries Inc

Analysis

Veranda Ministries Inc is a registered charity in United States, based in Gallatin, TN. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veranda Ministries Inc reported income of $208k and spending of $162k, leaving 22% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $113k to $208k (+83%), an average of +83% a year. The sharpest change came in the year to December 2023, when income rose by 83%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Veranda Ministries Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within TN. Charities of a similar size with the same main cause include Georgia Center for Youth Excellence ($208k), Quality Moments ($208k) and Durham Congregations in Action ($207k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $52k (32% of expenses). Other salaries and wages came to $21k. At year end it held assets of $79k against liabilities of $1,793, net assets of $77k. It reported 2 employees.