Fairhaven Ministry of Faith Hope and Love

Analysis

Fairhaven Ministry of Faith Hope and Love is a registered charity in United States, based in Covington, LA. It received its IRS tax-exemption ruling in March 1996, 30 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, Fairhaven Ministry of Faith Hope and Love reported income of $214k and spending of $265k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $577k to $214k (-63%), an average of -22% a year. The sharpest change came in the year to December 2020, when income dropped by 64%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fairhaven Ministry of Faith Hope and Love sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within LA. Charities of a similar size with the same main cause include Shri Service Corps ($214k), Purposeful Living Inc ($214k) and Center for a Green Future ($214k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $20k (7.5% of expenses). At year end it held assets of $312k against liabilities of $0, net assets of $312k. It reported 1 employees.