Foundations of Faith

Analysis

Foundations of Faith is a registered charity in United States, based in Portales, NM. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundations of Faith reported income of $173k and spending of $132k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $107k to $173k (+61%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 106%. Over the whole period it spent 81% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Foundations of Faith sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within NM. Charities of a similar size with the same main cause include Fresh Fire Ministries USA ($173k), Tres Dias of Southeast TN Inc ($173k) and Bainbridge Care Center ($173k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $85k. At year end it held assets of $204k against liabilities of $2,580, net assets of $201k. It reported 11 employees.