Daily Bread Ministries Inc

Analysis

Daily Bread Ministries Inc is a registered charity in United States, based in Greer, SC. It received its IRS tax-exemption ruling in April 1993, 33 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 December 2023, Daily Bread Ministries Inc reported income of $272k and spending of $302k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $208k to $272k (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2020, when income rose by 69%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Daily Bread Ministries Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 65th percentile within SC. Charities of a similar size with the same main cause include Toledo Celtics Soccer Club Inc ($272k), Amador County Arts Council ($272k) and Heights Interfaith Ministries Inc ($272k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. It paid $50 in professional fundraising fees. At year end it held assets of $861k against liabilities of $7,580, net assets of $853k. It reported 2 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.