Bread of Life Ministries of Sanford Inc

Analysis

Bread of Life Ministries of Sanford Inc is a registered charity in United States, based in Sanford, NC. It received its IRS tax-exemption ruling in February 2012, 14 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 June 2024, Bread of Life Ministries of Sanford Inc reported income of $173k and spending of $119k, leaving 31% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $106k to $173k (+64%), an average of +64% a year. The sharpest change came in the year to June 2024, when income rose by 64%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bread of Life Ministries of Sanford Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NC. Charities of a similar size with the same main cause include Deafstone Services Inc ($173k), Southwest Tattoo Removal Program ($173k) and Child Welfare Citizens Board of Oklahoma Inc ($173k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 75% and program service revenue 20% of the total. At year end it held assets of $213k against liabilities of $504, net assets of $212k.