Lifemark Ministries

Analysis

Lifemark Ministries is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in August 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 (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 2023, Lifemark Ministries reported income of $120k and spending of $180k, spending 150% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $240k to $120k (-50%), an average of -50% a year. The sharpest change came in the year to June 2023, when income dropped by 50%. Over the whole period it spent 94% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Lifemark Ministries sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within TX. Charities of a similar size with the same main cause include Shepherd to Shepherd-Heart to Heart ($120k), Reyazul Jannah Islamic Center Inc ($120k) and Lifequest Community Inc ($120k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $6,925 (3.9% of expenses). At year end it held assets of $58k against liabilities of $509, net assets of $57k. It reported 3 employees.