Step Of Faith Ministry Inc
Step Of Faith Ministry Inc consistently operates with no officer compensation, demonstrating a volunteer-led model and generally stable finances.
EIN: 20668790 · Brick, NJ · NTEE: Q33 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $195K |
| Total Expenses | $278K |
| Program Spending | 85% |
| Net Assets | $131K |
| Transparency Score | 90/100 |
Is Step Of Faith Ministry Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Step Of Faith Ministry Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Step Of Faith Ministry Inc
Step Of Faith Ministry Inc (EIN: 20668790) is a nonprofit organization based in Brick, NJ, classified under NTEE code Q33. The organization reported total revenue of $195K and total assets of $127K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Step Of Faith Ministry Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Step Of Faith Ministry Inc is a small nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $300K |
| Total Expenses | $278K |
| Surplus / Deficit | +$23K |
| Total Assets | $131K |
| Net Assets | $131K |
| Operating Margin | 7.5% |
| Months of Reserves | 5.7 months |
Financial Health Grade: A
In 2023, Step Of Faith Ministry Inc reported a surplus of $23K with revenue exceeding expenses, holds 5.7 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Step Of Faith Ministry Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +35.0% | +4.8% | +20.0% |
| 2022 | -23.4% | -7.4% | — |
| 2021 | +40.4% | +80.8% | -100.0% |
| 2020 | +29.6% | -10.4% | +47.0% |
| 2019 | +13.7% | +16.2% | -19.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Step Of Faith Ministry Inc with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Step Of Faith Ministry Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $23K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer-led organization where leadership is not compensated, which is highly efficient for a nonprofit of this size.
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 Step Of Faith Ministry Inc's IRS 990 filings:
- Occasional deficit spending (e.g., 202212 expenses exceeded revenue by $42,457)
Strengths
The following positive indicators were identified for Step Of Faith Ministry Inc:
- Consistent 0% officer compensation across all filings
- No reported liabilities in recent filing periods (202012-202312)
- Revenue growth over the past decade
- Consistent filing of IRS Form 990s demonstrating transparency
Frequently Asked Questions about Step Of Faith Ministry Inc
Is Step Of Faith Ministry Inc a legitimate charity?
Step Of Faith Ministry Inc (EIN: 20668790) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $195K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Step Of Faith Ministry Inc spend its money?
Step Of Faith Ministry Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Step Of Faith Ministry Inc tax-deductible?
Step Of Faith Ministry Inc is registered as a tax-exempt nonprofit (EIN: 20668790). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Step Of Faith Ministry Inc's spending goes to programs?
Step Of Faith Ministry Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Step Of Faith Ministry Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Step Of Faith Ministry Inc is above average for NTEE category Q33 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Step Of Faith Ministry Inc located?
Step Of Faith Ministry Inc is headquartered in Brick, New Jersey and files with the IRS under EIN 20668790. It is classified under NTEE code Q33.
How many years of IRS 990 filings does Step Of Faith Ministry Inc have?
Step Of Faith Ministry Inc 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 $195K in total revenue.
Is Step Of Faith Ministry Inc a good charity?
Based on the available IRS 990 data, Step Of Faith Ministry Inc appears to be a good charity. It consistently reports no officer compensation, indicating a volunteer-driven model, and generally maintains a healthy financial position with revenues often exceeding or closely matching expenses. Its lack of liabilities in recent years is also a positive sign.
How does Step Of Faith Ministry Inc manage its finances?
The organization manages its finances by operating with a lean structure, as evidenced by 0% officer compensation. While there are fluctuations, revenue generally covers expenses, and the organization has maintained low to no liabilities in recent periods, suggesting prudent financial management.
What is the trend in Step Of Faith Ministry Inc's revenue and expenses?
Step Of Faith Ministry Inc's revenue has shown growth, reaching $300,068 in 202312 from $108,974 in 201512. Expenses have also increased but generally track revenue, with occasional periods where expenses slightly exceed revenue, such as in 202212 ($264,747 expenses vs. $222,290 revenue).
Does Step Of Faith Ministry Inc have significant assets or liabilities?
The organization's assets have fluctuated but generally remain modest, with $131,166 reported in 202312. Crucially, Step Of Faith Ministry Inc has reported $0 in liabilities for the past four filing periods (202012-202312), indicating a very strong balance sheet.
Filing History
IRS 990 filing history for Step Of Faith Ministry Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Step Of Faith Ministry Inc's revenue has grown by 367.2%, moving from $64K to $300K. Total assets decreased by 38.2% over the same period, from $212K to $131K. Total functional expenses rose by 424.6%, from $53K to $278K. In its most recent filing year (2023), Step Of Faith Ministry Inc reported a surplus of $23K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $300K | $278K | $131K | $0 | — | — |
| 2022 | $222K | $265K | $109K | $0 | — | View 990 |
| 2021 | $290K | $286K | $0 | $0 | — | View 990 |
| 2020 | $207K | $158K | $147K | $0 | — | View 990 |
| 2019 | $160K | $176K | $100K | $2K | — | View 990 |
| 2018 | $140K | $152K | $123K | $8K | — | View 990 |
| 2017 | $137K | $170K | $132K | $6K | — | View 990 |
| 2016 | $158K | $163K | $164K | $5K | — | View 990 |
| 2015 | $109K | $123K | $163K | $90 | — | View 990 |
| 2014 | $136K | $154K | $177K | $0 | — | View 990 |
| 2013 | $119K | $141K | $194K | $0 | — | View 990 |
| 2012 | $128K | $124K | $222K | $6K | — | View 990 |
| 2011 | $64K | $53K | $212K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $300K, expenses of $278K, and assets of $131K (revenue +35.0% year-over-year).
- 2022: Revenue of $222K, expenses of $265K, and assets of $109K (revenue -23.4% year-over-year).
- 2021: Revenue of $290K, expenses of $286K, and assets of $0 (revenue +40.4% year-over-year).
- 2020: Revenue of $207K, expenses of $158K, and assets of $147K (revenue +29.6% year-over-year).
- 2019: Revenue of $160K, expenses of $176K, and assets of $100K (revenue +13.7% year-over-year).
- 2018: Revenue of $140K, expenses of $152K, and assets of $123K (revenue +2.2% year-over-year).
- 2017: Revenue of $137K, expenses of $170K, and assets of $132K (revenue -13.2% year-over-year).
- 2016: Revenue of $158K, expenses of $163K, and assets of $164K (revenue +45.2% year-over-year).
- 2015: Revenue of $109K, expenses of $123K, and assets of $163K (revenue -20.0% year-over-year).
- 2014: Revenue of $136K, expenses of $154K, and assets of $177K (revenue +14.7% year-over-year).
- 2013: Revenue of $119K, expenses of $141K, and assets of $194K (revenue -7.1% year-over-year).
- 2012: Revenue of $128K, expenses of $124K, and assets of $222K (revenue +98.9% year-over-year).
- 2011: Revenue of $64K, expenses of $53K, and assets of $212K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Step Of Faith Ministry Inc:
Data Sources and Methodology
This transparency report for Step Of Faith Ministry 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.