Agape Source Inc

Analysis

Agape Source Inc is a registered charity in United States, based in Windermere, FL. It received its IRS tax-exemption ruling in April 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 (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, Agape Source Inc reported income of $237k and spending of $277k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $223k to $237k (+6.4%), an average of +1.6% a year. The sharpest change came in the year to December 2020, when income rose by 147%. Over the whole period it spent 80% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Agape Source Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within FL. Charities of a similar size with the same main cause include Zeteo Ministries ($237k), Limestone County Churches Involvedinc ($237k) and King Ministries International Inc ($237k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $89k (32% of expenses). Other salaries and wages came to $18k. At year end it held assets of $296k against liabilities of $733, net assets of $295k. It reported 6 employees.