Gospel Light Mennonite Church Medical Aid Plan Inc

Analysis

Gospel Light Mennonite Church Medical Aid Plan Inc is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in April 2015, 11 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, Gospel Light Mennonite Church Medical Aid Plan Inc reported income of $196.8m and spending of $196.2m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $54.7m to $196.8m (+260%), an average of +38% a year. The sharpest change came in the year to December 2022, when income rose by 429%. Over the whole period it spent 98% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Gospel Light Mennonite Church Medical Aid Plan Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include International Generosity Foundation Trust ($160.3m), Mercy Health East Communities ($248.9m) and Christian Aid Ministries ($148.0m).

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 $1.5m (0.8% of expenses). Other salaries and wages came to $10.7m. At year end it held assets of $30.6m against liabilities of $2.2m, net assets of $28.5m. It reported 266 employees.