The Foundry Ministries Inc

Analysis

The Foundry Ministries Inc is a registered charity in United States, based in Bessemer, AL. It received its IRS tax-exemption ruling in October 1972, 54 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, The Foundry Ministries Inc reported income of $8.5m and spending of $7.9m, spending 93% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $8.1m to $8.5m (+4.4%), an average of +0.9% a year. The sharpest change came in the year to June 2023, when income dropped by 17%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Foundry Ministries Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within AL. Charities of a similar size with the same main cause include Inwood Community Services Inc ($8.5m), The Benjamin Rose Institute ($8.5m) and Public Allies Inc ($8.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 26% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $289k (3.7% of expenses). Other salaries and wages came to $2.8m. It paid $80k in professional fundraising fees. At year end it held assets of $8.4m against liabilities of $4.9m, net assets of $3.5m. It reported 159 employees.