Asone Ministries

Analysis

Asone Ministries is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in August 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Asone Ministries reported income of $2.7m and spending of $2.2m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $601k to $2.7m (+344%), an average of +45% a year. The sharpest change came in the year to December 2022, when income rose by 84%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Asone Ministries sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within SD. Charities of a similar size with the same main cause include Delaware County Friendship Homes Inc ($2.7m), Living Lands Trust ($2.7m) and Homes of Hope Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $98k (4.5% of expenses). Other salaries and wages came to $42k. At year end it held assets of $1.5m against liabilities of $19k, net assets of $1.5m. It reported 2 employees.