Gospel Lakes Ministries Inc

Analysis

Gospel Lakes Ministries Inc is a registered charity in United States, based in New Waverly, TX. It received its IRS tax-exemption ruling in November 2000, 26 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 2022, Gospel Lakes Ministries Inc reported income of $463k and spending of $241k, leaving 48% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $205k to $463k (+125%), an average of +31% a year. The sharpest change came in the year to December 2021, when income rose by 140%. Over the whole period it spent 62% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Gospel Lakes Ministries Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Excel Leadership Network Inc ($463k), Camp Nathanael ($463k) and Sangha Bhiksu Buddhist Association ($462k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 0.7% of the total. Other salaries and wages came to $40k. At year end it held assets of $907k against liabilities of $4,229, net assets of $903k. It reported 3 employees.