Interfaith Assistance Ministry Inc

Analysis

Interfaith Assistance Ministry Inc is a registered charity in United States, based in Hendersonvlle, NC. It received its IRS tax-exemption ruling in May 1984, 42 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Interfaith Assistance Ministry Inc reported income of $4.5m and spending of $3.9m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $4.5m (+156%), an average of +26% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Interfaith Assistance Ministry Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Share the Care Inc ($4.5m), Meals on Wheels Etc Inc ($4.5m) and Food on the Move Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $213k (5.4% of expenses). Other salaries and wages came to $689k. At year end it held assets of $6.2m against liabilities of $564k, net assets of $5.6m. It reported 30 employees.