Ark of Grace Ministries

Analysis

Ark of Grace Ministries is a registered charity in United States, based in Hopewell JCT, NY. It received its IRS tax-exemption ruling in December 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Ark of Grace Ministries reported income of $1.8m and spending of $2.4m, spending 131% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $2.3m to $1.8m (-22%), an average of -12% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 79% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Ark of Grace Ministries sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Redeemer Dubai ($1.8m), Banner of Truth ($1.8m) and Messianic Jewish Bible Society Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $145k (6.2% of expenses). Other salaries and wages came to $728k. At year end it held assets of $1.9m against liabilities of $64k, net assets of $1.8m. It reported 9 employees.