Advance Ministries Inc

Analysis

Advance Ministries Inc is a registered charity in United States, based in LK Havasu Cty, AZ. It received its IRS tax-exemption ruling in February 1995, 31 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, Advance Ministries Inc reported income of $800k and spending of $767k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $591k to $800k (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Advance Ministries Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within AZ. Charities of a similar size with the same main cause include Jlens ($800k), Truth in Love Ministry Corp ($800k) and National Religious Partnership for the Environment Inc TR ($799k).

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 $63k (8.2% of expenses). Other salaries and wages came to $159k. At year end it held assets of $556k against liabilities of $1.0m, net assets of -$459k.