Faithx Project Inc

Analysis

Faithx Project Inc is a registered charity in United States, based in Lutherville, MD. It received its IRS tax-exemption ruling in January 2017, 9 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 2023, Faithx Project Inc reported income of $393k and spending of $352k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $196k to $393k (+101%), an average of +101% a year. The sharpest change came in the year to December 2023, when income rose by 101%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Faithx Project Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include Dao Vien Buddhist Temple ($393k), Journey Counseling Ministries Inc ($393k) and Hope Everlasting Ministry ($393k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $68k (19% of expenses). At year end it held assets of $121k against liabilities of $134k, net assets of -$12k. It reported 1 employees.