Truthxchange Inc

Analysis

Truthxchange Inc is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Truthxchange Inc reported income of $341k and spending of $419k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $253k to $341k (+35%), an average of +7.7% a year. The sharpest change came in the year to December 2020, when income rose by 65%. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Truthxchange 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 64th percentile, and in the 66th percentile within CA. Charities of a similar size with the same main cause include Church Assistance Ministry ($340k), The Southern-Tier Torah Advancement & Revitalization Foundation ($341k) and Temple Israel Foundation Trust Fund ($340k).

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 $120k (29% of expenses). Other salaries and wages came to $90k. At year end it held assets of $352k against liabilities of $2,117, net assets of $350k. It reported 2 employees.