Psalm68five Ministries

Analysis

Psalm68five Ministries is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in July 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, Psalm68five Ministries reported income of $100k and spending of $230k, spending 230% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $237k to $100k (-58%), an average of -35% a year. The sharpest change came in the year to December 2023, when income dropped by 65%. Over the whole period it spent 102% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Psalm68five Ministries sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 39th percentile within TX. Charities of a similar size with the same main cause include Gods Kingdom Ministry ($100k), Bineham Mission Foundation ($100k) and American Harvesters Inc ($100k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $113k against liabilities of $0, net assets of $113k.