Corazon Ministries Inc

Analysis

Corazon Ministries Inc is a registered charity in United States, based in Tucson, AZ. It received its IRS tax-exemption ruling in November 1996, 30 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, Corazon Ministries Inc reported income of $411k and spending of $431k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $343k to $411k (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Corazon Ministries Inc 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 67th percentile, and in the 65th percentile within AZ. Charities of a similar size with the same main cause include Safari Mission USA Inc ($411k), Holy Family Shrine Inc ($411k) and Launch Ministries Inc ($410k).

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 $93k (22% of expenses). Other salaries and wages came to $135k. At year end it held assets of $72k against liabilities of $4,243, net assets of $68k. It reported 8 employees.