Freedom Ministries Inc

Analysis

Freedom Ministries Inc is a registered charity in United States, based in Raymondville, TX. It received its IRS tax-exemption ruling in June 1984, 42 years ago. 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 2022, Freedom Ministries Inc reported income of $2.6m and spending of $1.8m, leaving 32% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.9m to $2.6m (+40%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Freedom 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 88th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include Fox River Valley Pipe Trades Education ($2.6m), Institute on Taxation and Economic Policy ($2.6m) and Laurel House Inc ($2.6m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $330k (18% of expenses). At year end it held assets of $4.3m against liabilities of $25k, net assets of $4.3m.