Anchor Ministries Inc

Analysis

Anchor Ministries Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover human services, 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 December 2023, Anchor Ministries Inc reported income of $1.0m and spending of $873k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $605k to $1.0m (+73%), an average of +15% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Anchor Ministries Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within WI. Charities of a similar size with the same main cause include Collins Lake Autism Center ($1.0m), Avant-Garde Foster Family Services Agency ($1.0m) and Ellendale Evergreen Place Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $588k (67% of expenses). At year end it held assets of $760k against liabilities of $146k, net assets of $614k.