Resource Service Ministries Inc

Analysis

Resource Service Ministries Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in May 1984, 42 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Resource Service Ministries Inc reported income of $1.5m and spending of $1.6m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $901k to $1.5m (+64%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Resource Service Ministries Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within GA. Charities of a similar size with the same main cause include Norwalk Congregate Homes for the Elderly Inc ($1.5m), Newton Community Development Founation II Inc ($1.5m) and Kulshan Community Land Trust ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $112k (6.9% of expenses). Other salaries and wages came to $135k. At year end it held assets of $1.8m against liabilities of $196k, net assets of $1.6m. It reported 6 employees.