Gospel Enterprises Inc

Analysis

Gospel Enterprises Inc is a registered charity in United States, based in Lake Waccamaw, NC. It received its IRS tax-exemption ruling in April 1983, 43 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2022, Gospel Enterprises Inc reported income of $828k and spending of $789k, spending 95% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $565k to $828k (+47%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Gospel Enterprises Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Chosen People International ($828k), Islamic Society of Western Massachusetts ($828k) and Teens for Christ ($828k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 35% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $76k (9.6% of expenses). Other salaries and wages came to $113k. At year end it held assets of $855k against liabilities of $399, net assets of $855k. It reported 42 employees.