Heritage Ministries Inc
Heritage Ministries Inc. shows consistent revenue growth and zero liabilities, operating on tight margins.
EIN: 205924643 · Lynch, KY · NTEE: X03 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $297K |
| Total Expenses | $320K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $300,000. |
| Net Assets | $122K |
| Transparency Score | 85/100 |
Is Heritage Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heritage Ministries Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heritage Ministries Inc
Heritage Ministries Inc (EIN: 205924643) is a nonprofit organization based in Lynch, KY, classified under NTEE code X03. The organization reported total revenue of $297K and total assets of $125K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heritage Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heritage Ministries Inc is a small nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2009–2023). Revenue has grown at a compound annual rate of 11.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $317K |
| Total Expenses | $320K |
| Surplus / Deficit | $-2,232 |
| Total Assets | $122K |
| Net Assets | $122K |
| Operating Margin | -0.7% |
| Months of Reserves | 4.6 months |
Financial Health Grade: B
In 2023, Heritage Ministries Inc reported a deficit of $2K with expenses exceeding revenue, holds 4.6 months of operating reserves (adequate).
Financial Trends
Over 14 years of filings (2009–2023), Heritage Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +31.9% | +74.4% | -1.8% |
| 2022 | +50.5% | +26.1% | +85.9% |
| 2021 | +32.5% | +32.5% | +28.0% |
| 2020 | -4.8% | -21.7% | +26.8% |
| 2019 | -13.9% | -15.9% | -24.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Heritage Ministries Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Heritage Ministries Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is highly efficient for an organization of its size with revenues reaching over $300,000.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Heritage Ministries Inc's IRS 990 filings:
- Expenses occasionally exceed revenue (e.g., 2023 expenses of $319,563 vs. revenue of $317,331), indicating tight operating margins.
Strengths
The following positive indicators were identified for Heritage Ministries Inc:
- Consistent reporting of $0 liabilities across all 14 filings, demonstrating strong financial management.
- Consistent revenue growth from $102,850 in 2015 to $317,331 in 2023.
- 0% officer compensation reported, indicating highly efficient or volunteer-led executive management.
- Strong asset growth from $62,054 in 2015 to $121,798 in 2023.
- Long history of consistent IRS 990 filings (14 filings), indicating high transparency.
Frequently Asked Questions about Heritage Ministries Inc
Is Heritage Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Heritage Ministries Inc (EIN: 205924643) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
How does Heritage Ministries Inc spend its money?
Heritage Ministries Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Heritage Ministries Inc tax-deductible?
Heritage Ministries Inc is registered as a tax-exempt nonprofit (EIN: 205924643). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Heritage Ministries Inc CEO make?
Heritage Ministries Inc's highest-compensated officer earns $300,000. annually. The organization reported $297K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Heritage Ministries Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Heritage Ministries Inc is above average for NTEE category X03 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heritage Ministries Inc located?
Heritage Ministries Inc is headquartered in Lynch, Kentucky and files with the IRS under EIN 205924643. It is classified under NTEE code X03.
How many years of IRS 990 filings does Heritage Ministries Inc have?
Heritage Ministries Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $297K in total revenue.
Is Heritage Ministries Inc. financially stable?
Yes, Heritage Ministries Inc. appears financially stable, consistently reporting zero liabilities across all 14 filings and maintaining positive assets, which grew from $62,054 in 2015 to $121,798 in 2023.
How has Heritage Ministries Inc.'s revenue changed over time?
Heritage Ministries Inc. has shown significant revenue growth, increasing from $102,850 in 2015 to $317,331 in 2023, indicating expanding operations or increased donor support.
Does Heritage Ministries Inc. pay its officers?
No, Heritage Ministries Inc. consistently reports 0% officer compensation across all available IRS 990 filings, suggesting a volunteer or very lean executive structure.
What is the organization's approach to debt?
The organization appears to have a strong aversion to debt, as evidenced by its consistent reporting of $0 in liabilities across all 14 filing periods.
Filing History
IRS 990 filing history for Heritage Ministries Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2009–2023), Heritage Ministries Inc's revenue has grown by 381.7%, moving from $66K to $317K. Total assets increased by 873.3% over the same period, from $13K to $122K. Total functional expenses rose by 308.5%, from $78K to $320K. In its most recent filing year (2023), Heritage Ministries Inc reported a deficit of $2K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $317K | $320K | $122K | $0 | — | — |
| 2022 | $241K | $183K | $124K | $0 | — | — |
| 2021 | $160K | $145K | $67K | $0 | — | View 990 |
| 2020 | $121K | $110K | $52K | $0 | — | View 990 |
| 2019 | $127K | $140K | $41K | $0 | — | View 990 |
| 2018 | $147K | $167K | $54K | $0 | — | View 990 |
| 2017 | $136K | $141K | $74K | $0 | — | View 990 |
| 2016 | $134K | $117K | $78K | $0 | — | View 990 |
| 2015 | $103K | $103K | $62K | $0 | — | View 990 |
| 2014 | $146K | $125K | $62K | $0 | — | View 990 |
| 2013 | $135K | $106K | $41K | $0 | — | View 990 |
| 2012 | $71K | $66K | $12K | $0 | — | View 990 |
| 2011 | $69K | $69K | $10K | $4K | — | View 990 |
| 2009 | $66K | $78K | $13K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $317K, expenses of $320K, and assets of $122K (revenue +31.9% year-over-year).
- 2022: Revenue of $241K, expenses of $183K, and assets of $124K (revenue +50.5% year-over-year).
- 2021: Revenue of $160K, expenses of $145K, and assets of $67K (revenue +32.5% year-over-year).
- 2020: Revenue of $121K, expenses of $110K, and assets of $52K (revenue -4.8% year-over-year).
- 2019: Revenue of $127K, expenses of $140K, and assets of $41K (revenue -13.9% year-over-year).
- 2018: Revenue of $147K, expenses of $167K, and assets of $54K (revenue +8.1% year-over-year).
- 2017: Revenue of $136K, expenses of $141K, and assets of $74K (revenue +1.9% year-over-year).
- 2016: Revenue of $134K, expenses of $117K, and assets of $78K (revenue +29.9% year-over-year).
- 2015: Revenue of $103K, expenses of $103K, and assets of $62K (revenue -29.7% year-over-year).
- 2014: Revenue of $146K, expenses of $125K, and assets of $62K (revenue +8.0% year-over-year).
- 2013: Revenue of $135K, expenses of $106K, and assets of $41K (revenue +91.5% year-over-year).
- 2012: Revenue of $71K, expenses of $66K, and assets of $12K (revenue +1.8% year-over-year).
- 2011: Revenue of $69K, expenses of $69K, and assets of $10K (revenue +5.5% year-over-year).
- 2009: Revenue of $66K, expenses of $78K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heritage Ministries Inc:
Data Sources and Methodology
This transparency report for Heritage Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.