Steelbridge Ministries

Analysis

Steelbridge Ministries is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 1970, 56 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Steelbridge Ministries reported income of $1.5m and spending of $1.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.5m to $1.5m (-41%), an average of -12% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Steelbridge Ministries sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NM. Charities of a similar size with the same main cause include Washington Area Womens Foundation Inc ($1.5m), Hope in the Mountains Inc ($1.5m) and Thurgood Marshall Child Development Center Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $430k. At year end it held assets of $5.1m against liabilities of $962k, net assets of $4.1m. It reported 14 employees.