Faith in Florida Inc

Analysis

Faith in Florida Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in March 1994, 32 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Faith in Florida Inc reported income of $2.4m and spending of $2.8m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $813k to $2.4m (+197%), an average of +31% a year. The sharpest change came in the year to December 2020, when income rose by 336%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Faith in Florida Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Wayne County Community Services Organization Inc ($2.4m), Vallonia Industries ($2.4m) and Harvest Hands Community Development Corporation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.6m (57% of expenses). Other salaries and wages came to $442k. At year end it held assets of $1.9m against liabilities of $359k, net assets of $1.6m. It reported 37 employees.