Life Ministries for Venezuela

Analysis

Life Ministries for Venezuela is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Life Ministries for Venezuela reported income of $106k and spending of $125k, spending 117% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $192k to $106k (-45%), an average of -26% a year. The sharpest change came in the year to December 2022, when income dropped by 27%. Over the whole period it spent 107% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Life Ministries for Venezuela sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 36th percentile within NC. Charities of a similar size with the same main cause include Phuc Dai Charity ($106k), Express Workforce Foundation ($106k) and International Galapagos Tour Operators Association Incorporated ($106k).

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 $407k against liabilities of $0, net assets of $407k.

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.