Well of Life Church Cathedral Inc

Analysis

Well of Life Church Cathedral Inc is a registered charity in United States, based in Coral Springs, FL. It received its IRS tax-exemption ruling in September 2020, 6 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 2022, Well of Life Church Cathedral Inc reported income of $75k and spending of $86k, spending 115% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income grew from $38k to $75k (+98%), an average of +98% a year. The sharpest change came in the year to December 2022, when income rose by 98%. Over the whole period it spent 133% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Well of Life Church Cathedral Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 33rd percentile within FL. Charities of a similar size with the same main cause include Be Free Ministry Inc ($75k), Be the Church Ltd ($75k) and Tree of Life Institutions ($75k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $1 against liabilities of $38k, net assets of -$38k.