Proem Support Ministries Inc

Analysis

Proem Support Ministries Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 2004, 22 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, Proem Support Ministries Inc reported income of $1.9m and spending of $2.2m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.9m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2022, when income rose by 214%. Over the whole period it spent 84% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Proem Support Ministries Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within KY. Charities of a similar size with the same main cause include Morning Star Development ($1.9m), Dominican Republic Education and Mentoring Project Inc ($1.9m) and Brigitte & Bobby Sherman Foundation ($1.9m).

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 $69k (3.1% of expenses). Other salaries and wages came to $83k. At year end it held assets of $2.5m against liabilities of $7,740, net assets of $2.5m. It reported 2 employees.