Sound Mind

Analysis

Sound Mind is a registered charity in United States, based in Lester, WV. It received its IRS tax-exemption ruling in November 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, Sound Mind reported income of $91k and spending of $99k, spending 109% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income fell from $217k to $91k (-58%), an average of -35% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Sound Mind sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 31st percentile within WV. Charities of a similar size with the same main cause include County-Wide Chaplaincy ($91k), Iglesia Palabra de Fe de Sherman ($91k) and St Vincent de Paul Store Greensburg Society of St Vincent de Paul ($91k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. At year end it held assets of $176k against liabilities of $35k, net assets of $141k.