Miracle Farm Inc

Analysis

Miracle Farm Inc is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in March 1987, 39 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 2023, Miracle Farm Inc reported income of $2.3m and spending of $2.1m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.3m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miracle Farm 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 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Ogontz Avenue Revitalization Corp ($2.3m), Wisconsin Center for Education Products and Services Wceps Inc ($2.3m) and Bay Foundation of Morro Bay California San Luis Obispo County ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $147k (7.2% of expenses). Other salaries and wages came to $589k. At year end it held assets of $1.7m against liabilities of $99k, net assets of $1.6m. It reported 19 employees.