Faithworks of the Inner City Inc

Analysis

Faithworks of the Inner City Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in April 2003, 23 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 December 2023, Faithworks of the Inner City Inc reported income of $2.8m and spending of $1.2m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.8m (+141%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 95%. Over the whole period it spent 58% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Faithworks of the Inner City Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within OK. Charities of a similar size with the same main cause include Minnesota Jewish Community Center Foundation ($2.8m), Challengers Independent Living Inc ($2.8m) and Smarter Tomorrow Foundation Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $53k (4.3% of expenses). Other salaries and wages came to $349k. At year end it held assets of $5.8m against liabilities of $32k, net assets of $5.8m. It reported 25 employees.