242 Network

Analysis

242 Network is a registered charity in United States, based in Coldwater, MS. It received its IRS tax-exemption ruling in December 2020, 6 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, 242 Network reported income of $292k and spending of $247k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $225k to $292k (+29%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 82% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, 242 Network sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within MS. Charities of a similar size with the same main cause include Regions Beyond International Inc ($291k), North Andhra Coastal Evangelizingassociation Incorporated ($292k) and Chinese Christian Church of Germantown ($291k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $142k. At year end it held assets of $143k against liabilities of $4,392, net assets of $138k. It reported 15 employees.