Renewal Ministries

Analysis

Renewal Ministries is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in August 1980, 46 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 May 2023, Renewal Ministries reported income of $264k and spending of $316k, spending 120% of what it took in. Across the 4 years on record, from May 2020 to May 2023, income fell from $408k to $264k (-35%), an average of -14% a year. The sharpest change came in the year to May 2021, when income dropped by 39%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Renewal Ministries sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 60th percentile within TN. Charities of a similar size with the same main cause include Pasacat Inc ($264k), Golden Gate Boys Choir ($264k) and Otic Theater Collective ($264k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $142k (45% of expenses). Other salaries and wages came to $67k. At year end it held assets of $345k against liabilities of $3,873, net assets of $341k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.