Gary Palermo Ministries Inc

Analysis

Gary Palermo Ministries Inc is a registered charity in United States, based in Saint Michael, MN. It received its IRS tax-exemption ruling in March 1985, 41 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, Gary Palermo Ministries Inc reported income of $69k and spending of $69k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $62k to $69k (+10%), an average of +2.5% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gary Palermo Ministries Inc sits at the 27th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 24th percentile within MN. Charities of a similar size with the same main cause include Til the End of Time Sanctuary Inc ($69k), Little House on the Prairie Museum Inc ($69k) and Ricebird Booster Club Inc ($69k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $31k. At year end it held assets of $1,261 against liabilities of $17k, net assets of -$16k.

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.