Named Ministries Inc

Analysis

Named Ministries Inc is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in November 2020, 6 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, Named Ministries Inc reported income of $263k and spending of $242k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $136k to $263k (+93%), an average of +93% a year. The sharpest change came in the year to December 2023, when income rose by 93%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Named Ministries Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Primus University of Theology International ($263k), By Example Missions ($263k) and Vietnamese Franciscan Vocation ($263k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $55k (23% of expenses). Other salaries and wages came to $12k. At year end it held assets of $36k against liabilities of $0, net assets of $36k. It reported 2 employees.