Stream of Praise Music Ministries

Analysis

Stream of Praise Music Ministries is a registered charity in United States, based in Tustin, CA. It received its IRS tax-exemption ruling in February 1997, 29 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, Stream of Praise Music Ministries reported income of $2.8m and spending of $2.4m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.8m (+54%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 89%. Over the whole period it spent 81% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Stream of Praise Music Ministries sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Campus by the Sea Inc ($2.8m), The Bnei Torah Trust ($2.8m) and Sachse Muslim Society ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $157k (6.4% of expenses). Other salaries and wages came to $960k. At year end it held assets of $7.0m against liabilities of $3.0m, net assets of $4.0m. It reported 23 employees.