Genesis Covering Ministries

Analysis

Genesis Covering Ministries is a registered charity in United States, based in Schulenburg, TX. It received its IRS tax-exemption ruling in December 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Genesis Covering Ministries reported income of $550k and spending of $421k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $241k to $550k (+128%), an average of +23% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 78% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Genesis Covering Ministries sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Networx Ministries International ($550k), Camp Mennoscah Association ($551k) and Eagle Projects International Inc ($550k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $185k (44% of expenses). At year end it held assets of $495k against liabilities of $0, net assets of $495k.