Restore Ministries Inc

Analysis

Restore Ministries Inc is a registered charity in United States, based in Elizabeth, NJ. It received its IRS tax-exemption ruling in May 1995, 31 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Restore Ministries Inc reported income of $225k and spending of $234k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $209k to $225k (+7.4%), an average of +7.4% a year. Over the whole period it spent 112% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Restore Ministries Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 63rd percentile within NJ. Charities of a similar size with the same main cause include Ignite Myanmar ($225k), Equipped for Life ($225k) and Give Me an Answer Inc ($225k).

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 $25k (10% of expenses). Other salaries and wages came to $103k. At year end it held assets of $43k against liabilities of $78k, net assets of -$36k. It reported 19 employees.