Iglesia Palabra de Fe de Sherman

Analysis

Iglesia Palabra de Fe de Sherman is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in April 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Iglesia Palabra de Fe de Sherman reported income of $91k and spending of $89k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $106k to $91k (-14%), an average of -14% a year. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Iglesia Palabra de Fe de Sherman sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 36th percentile within TX. Charities of a similar size with the same main cause include Sound Mind ($91k), Wayside Cafe Ministries ($91k) and County-Wide Chaplaincy ($91k).

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 $26k (29% of expenses). At year end it held assets of $558k against liabilities of $184k, net assets of $374k.