Precept Ministries of Reach Out Inc

Analysis

Precept Ministries of Reach Out Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Precept Ministries of Reach Out Inc reported income of $11.9m and spending of $15.1m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.6m to $11.9m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 103% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Precept Ministries of Reach Out Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include El Sembrador Ministries ($11.9m), Elam Ministries Inc ($12.1m) and Epworth by the Sea Inc ($11.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $956k (6.3% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $7.2m against liabilities of $557k, net assets of $6.6m. It reported 95 employees.