Praise Ministries Inc

Analysis

Praise Ministries Inc is a registered charity in United States, based in Lindale, TX. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Praise Ministries Inc reported income of $101k and spending of $158k, spending 156% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $263k to $101k (-62%), an average of -27% a year. The sharpest change came in the year to December 2022, when income rose by 74%. Over the whole period it spent 102% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Praise Ministries Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 40th percentile within TX. Charities of a similar size with the same main cause include Rooted Ministries ($101k), Koine Music Ministries Inc ($101k) and Marx Succes Global Ministries ($101k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $77k against liabilities of $31k, net assets of $46k.