Throne of Grace Ministries Inc

Analysis

Throne of Grace Ministries Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in January 1998, 28 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, Throne of Grace Ministries Inc reported income of $674k and spending of $769k, spending 114% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $706k to $674k (-4.6%), an average of -4.6% a year. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Throne of Grace Ministries Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include 33rd Ministry ($674k), A Place in Time Christian Ministries Inc ($674k) and Kirkridge Inc ($673k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $185k (24% of expenses). At year end it held assets of $888k against liabilities of $36k, net assets of $852k. It reported 2 employees.