Sidney & Helen Correll Ministries Inc

Analysis

Sidney & Helen Correll Ministries Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in November 1979, 47 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, Sidney & Helen Correll Ministries Inc reported income of $955k and spending of $1.0m, spending 107% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $675k to $955k (+41%), an average of +7.2% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sidney & Helen Correll Ministries Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Valley Housing Coalition ($955k), Hyderi Foundation of North America Inc ($955k) and Habitat for Humanity International Inc ($954k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $102k (10% of expenses). Other salaries and wages came to $4,575. At year end it held assets of $49k against liabilities of $17k, net assets of $32k.

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.