Solomons Mission

Analysis

Solomons Mission is a registered charity in United States, based in Buchanan, VA. It received its IRS tax-exemption ruling in May 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, Solomons Mission reported income of $123k and spending of $118k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $105k to $123k (+18%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 94% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Solomons Mission sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within VA. Charities of a similar size with the same main cause include Sparrow City Church ($123k), European Baptist Fellowship Inc ($123k) and Renaissance Haitian Baptist Church ($123k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 9.1% and program service revenue 86% of the total. At year end it held assets of $429k against liabilities of $83k, net assets of $346k.