Needles Eye Ministries Inc

Analysis

Needles Eye Ministries Inc is a registered charity in United States, based in Henrico, VA. It received its IRS tax-exemption ruling in May 1978, 48 years ago. 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 June 2024, Needles Eye Ministries Inc reported income of $506k and spending of $615k, spending 121% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $668k to $506k (-24%), an average of -6.7% a year. The sharpest change came in the year to June 2022, when income rose by 137%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Needles Eye Ministries 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 70th percentile, and in the 70th percentile within VA. Charities of a similar size with the same main cause include Cacapon Institute ($506k), Alliance for Innovation Inc ($506k) and Affordable Housing Management Assoc-Northern California and Hawa ($506k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $229k (37% of expenses). Other salaries and wages came to $126k. At year end it held assets of $2.0m against liabilities of $68k, net assets of $1.9m. It reported 5 employees.