Marketplace Ministries Inc

Analysis

Marketplace Ministries Inc is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in December 1984, 42 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, Marketplace Ministries Inc reported income of $29.7m and spending of $30.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.3m to $29.7m (+53%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Marketplace Ministries Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Catholic Community Foundation of Los Angeles ($29.4m), Greater Europe Mission ($29.8m) and Corporate Chaplains of America Inc ($29.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $937k (3.0% of expenses). Other salaries and wages came to $20.8m. At year end it held assets of $5.8m against liabilities of $3.3m, net assets of $2.5m. It reported 2,212 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.