Convergence Network Inc

Analysis

Convergence Network Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in September 2014, 12 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, Convergence Network Inc reported income of $242k and spending of $107k, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $357k to $242k (-32%), an average of -9.3% a year. The sharpest change came in the year to December 2021, when income rose by 502%. Over the whole period it spent 79% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Convergence Network Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within GA. Charities of a similar size with the same main cause include CBTM International Inc ($242k), Iglesia de Dios Pentecostes Jesus El Buen Pastor Inc ($242k) and Longchen Nyingtik Institute ($242k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 102% of the total. At year end it held assets of $217k against liabilities of $1,369, net assets of $216k.