Around the Corner Ministries

Analysis

Around the Corner Ministries is a registered charity in United States, based in Hendersonvlle, NC. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Around the Corner Ministries reported income of $103k and spending of $113k, spending 110% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $49k to $103k (+109%), an average of +44% a year. The sharpest change came in the year to December 2022, when income rose by 95%. Over the whole period it spent 132% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Around the Corner Ministries sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 35th percentile within NC. Charities of a similar size with the same main cause include Grace Assembly Apostolic Church of Jesus Christ ($103k), A Heart for Children Inc ($103k) and Iglesia de Cristo Ministerios Renacer ($103k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $64k (57% of expenses). At year end it held assets of $166k against liabilities of $1,486, net assets of $164k. It reported 2 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.