Living Faith Ministries Inc

Analysis

Living Faith Ministries Inc is a registered charity in United States, based in Bristol, VA. It received its IRS tax-exemption ruling in December 1988, 38 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, Living Faith Ministries Inc reported income of $1.9m and spending of $2.0m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.3m to $1.9m (-56%), an average of -18% a year. The sharpest change came in the year to December 2021, when income dropped by 34%. Over the whole period it spent 79% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Living Faith Ministries Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include Jehovah-Jireh Foundation Inc ($1.9m), Alhussnain ($1.9m) and Outreach International ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $219k (11% of expenses). Other salaries and wages came to $390k. At year end it held assets of $14.7m against liabilities of $60k, net assets of $14.6m. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.