Kentucky Refugee Ministries Inc

Analysis

Kentucky Refugee Ministries Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in June 1993, 33 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 September 2023, Kentucky Refugee Ministries Inc reported income of $40.3m and spending of $40.7m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $6.2m to $40.3m (+550%), an average of +60% a year. The sharpest change came in the year to September 2022, when income rose by 160%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Kentucky Refugee Ministries Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Charles N Sharpe Jr Foundation ($39.5m), Hosanna ($41.5m) and Board of Jewish Education Inc ($39.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $356k (0.9% of expenses). Other salaries and wages came to $5.7m. At year end it held assets of $4.8m against liabilities of $3.2m, net assets of $1.6m. It reported 141 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.