Spirit of Grace Ministries

Analysis

Spirit of Grace Ministries is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in May 2006, 20 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, Spirit of Grace Ministries reported income of $101k and spending of $87k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $86k to $101k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 82% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Spirit of Grace Ministries sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 40th percentile within TX. Charities of a similar size with the same main cause include Ancient Words Ministries Inc ($101k), Steve Cassell Ministries ($101k) and Shepard of Your Soul ($101k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $124k against liabilities of $0, net assets of $124k.