Biblical Faith Ministries Inc

Analysis

Biblical Faith Ministries Inc is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in May 1991, 35 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, Biblical Faith Ministries Inc reported income of $144k and spending of $138k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $271k to $144k (-47%), an average of -15% a year. The sharpest change came in the year to December 2020, when income dropped by 27%. Over the whole period it spent 99% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Biblical Faith Ministries Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within TX. Charities of a similar size with the same main cause include Roma Bible Union USA Inc ($144k), Christ the King Evangelical Luthern Church Foundation of New Bridgton ($144k) and JC First ($144k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $9,300 (6.7% of expenses). At year end it held assets of $6,202 against liabilities of $0, net assets of $6,202. It reported 1 employees.