Unlock Ministries Inc

Analysis

Unlock Ministries Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Unlock Ministries Inc reported income of $1.1m and spending of $1.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $868k to $1.1m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Unlock Ministries Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Lamorinda Spanish Inc ($1.1m), Stoughton Extended Day Program Inc ($1.1m) and Patterson Library ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $92k (8.1% of expenses). Other salaries and wages came to $355k. At year end it held assets of $2.3m against liabilities of $442k, net assets of $1.9m. It reported 36 employees.