Truth Foundational Ministries Community Development Corporation

Analysis

Truth Foundational Ministries Community Development Corporation is a registered charity in United States, based in Pinetops, NC. It received its IRS tax-exemption ruling in September 2015, 11 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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, Truth Foundational Ministries Community Development Corporation reported income of $133k and spending of $101k, leaving 24% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $8,500 to $133k (+1465%), an average of +150% a year. The sharpest change came in the year to December 2021, when income rose by 233%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Truth Foundational Ministries Community Development Corporation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 42nd percentile within NC. Charities of a similar size with the same main cause include Overlea Fullerton Senior Center Council ($133k), The Nest Corporation Inc ($133k) and Oklahoma Elks Association Charitable TR ($133k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $75k against liabilities of $0, net assets of $75k.