Sharing Ministries Inc

Analysis

Sharing Ministries Inc is a registered charity in United States, based in Montrose, CO. It received its IRS tax-exemption ruling in July 1996, 30 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, Sharing Ministries Inc reported income of $2.1m and spending of $2.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $497k to $2.1m (+332%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 270%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sharing Ministries Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within CO. Charities of a similar size with the same main cause include Breaking Free ($2.1m), Florida Harm Reduction Collective Inc ($2.1m) and Corazon Ministries Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $111k (5.0% of expenses). Other salaries and wages came to $55k. At year end it held assets of $2.2m against liabilities of $14k, net assets of $2.2m. It reported 3 employees.