Covenant Global Ministries USA Inc

Analysis

Covenant Global Ministries USA Inc is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in September 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, Covenant Global Ministries USA Inc reported income of $63k and spending of $61k, spending 98% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $74k to $63k (-16%), an average of -8.3% a year. The sharpest change came in the year to December 2022, when income dropped by 16%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Covenant Global Ministries USA Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 27th percentile within MD. Charities of a similar size with the same main cause include Blount County Save-A-Life Inc ($63k), Fragrance O Prayer Ministry Inc ($63k) and Yashar Foundation ($63k).

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 $4,267 against liabilities of $0, net assets of $4,267.