Heart of Grace Ministries

Analysis

Heart of Grace Ministries is a registered charity in United States, based in Canton, TX. It received its IRS tax-exemption ruling in September 2003, 23 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, Heart of Grace Ministries reported income of $287k and spending of $223k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $196k to $287k (+46%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 72% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Heart of Grace Ministries sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 65th percentile within TX. Charities of a similar size with the same main cause include Gospel Echoes Northwest Inc ($287k), Hope Association ($287k) and CG International ($287k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $146k. At year end it held assets of $266k against liabilities of $0, net assets of $266k.