Praise Center Ministries Inc

Analysis

Praise Center Ministries Inc is a registered charity in United States, based in Jenks, OK. It received its IRS tax-exemption ruling in January 1984, 42 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 2020, Praise Center Ministries Inc reported income of $592k and spending of $519k, spending 88% of its income. Across the 2 years on record, from December 2019 to December 2020, income grew from $503k to $592k (+18%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Praise Center Ministries 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 73rd percentile, and in the 74th percentile within OK. Charities of a similar size with the same main cause include Ebenezer Building Foundation Inc ($592k), Crosspoint Family Life Ministry Inc ($593k) and Garner Ted Armstrong Evangelistic Association 01021998 ($592k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $157k (30% of expenses). Other salaries and wages came to $104k. At year end it held assets of $959k against liabilities of $345k, net assets of $614k. It reported 12 employees.