Psalms of David Inc

Analysis

Psalms of David Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in November 1983, 43 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, Psalms of David Inc reported income of $123k and spending of $89k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $90k to $123k (+36%), an average of +8.1% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Psalms of David Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within TX. Charities of a similar size with the same main cause include Missionary Sisters of St Francis of Assisi ($123k), Sacred Heart Teachers Sustentation Fund ($123k) and Friends of Webster Library Inc ($123k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 106% of the total. Compensation of current officers, directors and key employees was $3,601 (4.0% of expenses). At year end it held assets of $256k against liabilities of $103k, net assets of $153k.