Tesfatsidek Zewaghemra Ministries

Analysis

Tesfatsidek Zewaghemra Ministries is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 2023, 3 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Tesfatsidek Zewaghemra Ministries reported income of $213k and spending of $510k, spending 240% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $692k to $213k (-69%), an average of -69% a year. The sharpest change came in the year to December 2023, when income dropped by 69%. Over the whole period it spent 56% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Tesfatsidek Zewaghemra Ministries sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within WA. Charities of a similar size with the same main cause include Hope for Korah Ministries USA ($212k), Amnistia International Seccion de Puerto Rico ($213k) and Vera Aqua Vera Vita ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $394k against liabilities of $0, net assets of $394k.