Founders Ministries Inc

Analysis

Founders Ministries Inc is a registered charity in United States, based in Cape Coral, FL. It received its IRS tax-exemption ruling in March 1992, 34 years ago. 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 December 2023, Founders Ministries Inc reported income of $1.7m and spending of $1.4m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $372k to $1.7m (+358%), an average of +46% a year. The sharpest change came in the year to December 2020, when income rose by 172%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Founders Ministries 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 85th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.7m), The Tidings ($1.7m) and Vida Senior Centers ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $90k (6.2% of expenses). Other salaries and wages came to $197k. At year end it held assets of $1.9m against liabilities of $67k, net assets of $1.8m. It reported 7 employees.