Honornet Inc

Analysis

Honornet Inc is a registered charity in United States, based in Bristow, OK. It received its IRS tax-exemption ruling in December 2000, 26 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Honornet Inc reported income of $201k and spending of $188k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $306k to $201k (-34%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 42%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Honornet Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 55th percentile within OK. Charities of a similar size with the same main cause include Tranformation of the Nations ($201k), One Heart Ministries Inc ($201k) and Mision Evangelica Plantios de Jehova ($201k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Other salaries and wages came to $26k. At year end it held assets of $75k against liabilities of $0, net assets of $75k. It reported 1 employees.