Power of Love Ministry

Analysis

Power of Love Ministry is a registered charity in United States, based in Marblehead, MA. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Power of Love Ministry reported income of $376k and spending of $371k, spending 99% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $483k to $376k (-22%), an average of -4.9% a year. The sharpest change came in the year to December 2019, when income dropped by 33%. Over the whole period it spent 89% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Power of Love Ministry sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within MA. Charities of a similar size with the same main cause include Apt Ministries ($376k), New Life Christian Mission Inc ($376k) and Mendenhall Ministries Inc ($376k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $18k (5.0% of expenses). Other salaries and wages came to $36k. At year end it held assets of $0 against liabilities of $0, net assets of $0.