The Masters Vessel Ministries

Analysis

The Masters Vessel Ministries is a registered charity in United States, based in Sugar Land, TX. It received its IRS tax-exemption ruling in August 1993, 33 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, The Masters Vessel Ministries reported income of $285k and spending of $305k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $263k to $285k (+8.7%), an average of +2.1% a year. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Masters Vessel Ministries sits at the 59th percentile: it is larger than about 59% 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 Kentucky Hemophilia Foundation Inc ($285k), Thurgood Marshall PTA ($285k) and Primeira Igreja Batista Brasileira de Orlando ($285k).

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 $18k (5.9% of expenses). Other salaries and wages came to $34k. At year end it held assets of $1.2m against liabilities of $196k, net assets of $1.0m. It reported 3 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.