1040 Connections Inc

Analysis

1040 Connections Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in October 2000, 26 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, 1040 Connections Inc reported income of $481k and spending of $556k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $421k to $481k (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2022, when income rose by 150%. Over the whole period it spent 62% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, 1040 Connections Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within TN. Charities of a similar size with the same main cause include Limitless Outdoors Inc ($481k), Poor of Jesus Christ Inc ($481k) and Friends of Pioneer Inc ($481k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $170k (31% of expenses). Other salaries and wages came to $2,513. At year end it held assets of $2.1m against liabilities of $23k, net assets of $2.1m. It reported 5 employees.