Set Free Ministries
EIN: 383497803 · Grand Rapids, MI · NTEE: X20
| Metric | Value |
|---|---|
| Total Revenue | $2.7M |
| Total Expenses | $3.4M |
| Net Assets | $1.9M |
Is Set Free Ministries Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Set Free Ministries
Set Free Ministries (EIN: 383497803) is a nonprofit organization based in Grand Rapids, MI, classified under NTEE code X20. The organization reported total revenue of $2.7M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Set Free Ministries's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Set Free Ministries is a mid-size nonprofit that has been operating for 26 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.9M |
| Total Expenses | $3.4M |
| Surplus / Deficit | +$493K |
| Total Assets | $2.3M |
| Total Liabilities | $457K |
| Net Assets | $1.9M |
| Operating Margin | 12.8% |
| Debt-to-Asset Ratio | 19.5% |
| Months of Reserves | 8.4 months |
Financial Health Grade: A
In 2023, Set Free Ministries reported a surplus of $493K with revenue exceeding expenses, holds 8.4 months of operating reserves (strong position), has a debt-to-asset ratio of 19.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Set Free Ministries's revenue has grown at a compound annual growth rate (CAGR) of 10.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +60.7% | +17.3% | +24.8% |
| 2022 | +26.4% | +65.8% | -0.6% |
| 2021 | -4.6% | +16.9% | +10.6% |
| 2020 | -11.8% | -27.9% | +42.5% |
| 2019 | +45.3% | +43.5% | +21.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2000 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Set Free Ministries has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Set Free Ministries with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $493K, with revenue exceeding expenses.
- Debt-to-asset ratio: 19.5%.
Frequently Asked Questions about Set Free Ministries
Is Set Free Ministries a legitimate charity?
Based on AI analysis of IRS 990 filings, Set Free Ministries (EIN: 383497803) insufficient data. 0 red flags identified, 0 strengths noted.
How does Set Free Ministries spend its money?
Detailed spending breakdown data is not yet available for Set Free Ministries. Check back for updated IRS 990 analysis.
Are donations to Set Free Ministries tax-deductible?
Set Free Ministries is registered as a tax-exempt nonprofit (EIN: 383497803). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Set Free Ministries located?
Set Free Ministries is headquartered in Grand Rapids, Michigan and files with the IRS under EIN 383497803. It is classified under NTEE code X20.
How many years of IRS 990 filings does Set Free Ministries have?
Set Free Ministries has 13 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 $2.7M in total revenue.
Filing History
IRS 990 filing history for Set Free Ministries showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Set Free Ministries's revenue has grown by 233.8%, moving from $1.2M to $3.9M. Total assets increased by 1453.3% over the same period, from $151K to $2.3M. Total functional expenses rose by 148.2%, from $1.4M to $3.4M. In its most recent filing year (2023), Set Free Ministries reported a surplus of $493K, with revenue exceeding expenses. The organization holds $457K in liabilities against $2.3M in assets (debt-to-asset ratio: 19.5%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.9M | $3.4M | $2.3M | $457K | — | View 990 |
| 2022 | $2.4M | $2.9M | $1.9M | $484K | — | — |
| 2021 | $1.9M | $1.7M | $1.9M | $26K | — | View 990 |
| 2020 | $2.0M | $1.5M | $1.7M | $13K | — | — |
| 2019 | $2.3M | $2.1M | $1.2M | $15K | — | View 990 |
| 2018 | $1.6M | $1.4M | $989K | $8K | — | View 990 |
| 2017 | $1.7M | $1.3M | $866K | $9K | — | View 990 |
| 2016 | $1.2M | $1.2M | $441K | $8K | — | View 990 |
| 2015 | $1.4M | $1.4M | $353K | $7K | — | View 990 |
| 2014 | $1.2M | $1.4M | $374K | $8K | — | View 990 |
| 2013 | $1.4M | $1.1M | $570K | $8K | — | View 990 |
| 2012 | $1.1M | $990K | $233K | $25K | — | View 990 |
| 2011 | $1.2M | $1.4M | $151K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.9M, expenses of $3.4M, and assets of $2.3M (revenue +60.7% year-over-year).
- 2022: Revenue of $2.4M, expenses of $2.9M, and assets of $1.9M (revenue +26.4% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.7M, and assets of $1.9M (revenue -4.6% year-over-year).
- 2020: Revenue of $2.0M, expenses of $1.5M, and assets of $1.7M (revenue -11.8% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.1M, and assets of $1.2M (revenue +45.3% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.4M, and assets of $989K (revenue -8.4% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.3M, and assets of $866K (revenue +37.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.2M, and assets of $441K (revenue -12.1% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.4M, and assets of $353K (revenue +15.6% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.4M, and assets of $374K (revenue -15.7% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.1M, and assets of $570K (revenue +36.5% year-over-year).
- 2012: Revenue of $1.1M, expenses of $990K, and assets of $233K (revenue -8.6% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.4M, and assets of $151K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Set Free Ministries:
Data Sources and Methodology
This transparency report for Set Free Ministries 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.