Herald of Truth Ministries Inc

Analysis

Herald of Truth Ministries Inc is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in August 1989, 37 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, Herald of Truth Ministries Inc reported income of $806k and spending of $1.3m, spending 165% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $722k to $806k (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 152% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Herald of Truth Ministries Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within TX. Charities of a similar size with the same main cause include Bethune Nursery School Inc ($806k), Claret Center Inc ($806k) and Church of God 7th Day Street ($806k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Other salaries and wages came to $521k. At year end it held assets of $1.3m against liabilities of $99k, net assets of $1.2m. It reported 11 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.