Grace Through Faith Ministries Inc

Analysis

Grace Through Faith Ministries Inc is a registered charity in United States, based in Bryson City, NC. It received its IRS tax-exemption ruling in November 1983, 43 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Grace Through Faith Ministries Inc reported income of $349k and spending of $289k, spending 83% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $196k to $349k (+78%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 62%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace Through Faith Ministries Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include North Carolina State Elks Association ($349k), Rolling Meadows Senior Living Inc ($349k) and Independence Meals on Wheels Inc ($349k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 18% and program service revenue 65% of the total. At year end it held assets of $168k against liabilities of $102k, net assets of $66k.