Prakash Ministries
- Assets
- $330.4k
- Revenue
- $339.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Virginia Beach, VA
- Founding
- 08/2017
- Data as of
- 12/2021
- EIN
- 82-2295638
Organization Overview
Prakash Ministries is located in Virginia Beach, VA. The organization was established in 2017. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prakash Ministries is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Prakash Ministries generated $339.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $191.3k during the year ending 12/2021. While expenses have increased by 19.8% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MINISTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL SERVICES
HUNGER RELIEF FOR COVID
MISSION OFFERING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felix Prakash Officer | Trustee | 40 | $33,600 |
Bob Obrien Director | Trustee | 20 | $0 |
Richard Colquitt Director | Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $339,641 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $339,641 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $339,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,482 |
| Grants and other assistance to Foreign Orgs/Individuals | $43,444 |
| Benefits paid to or for members | $24,118 |
| Compensation of current officers, directors, key employees. | $33,600 |
| Compensation of current officers, directors, key employees. | $33,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,381 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,963 |
| Office expenses | $743 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $379 |
| Travel | $49,392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $329 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,681 |
| Insurance | $0 |
| All other expenses | $74 |
| Total functional expenses | $191,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $326,532 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $330,399 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $330,399 |
| Total liabilities and net assets/fund balances | $330,399 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Prakash Ministries has recieved totaling $112,058.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: RELIGION | $112,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $58 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Healthcare Physicians Inc Martinsburg, WV | $27,421,318 | $84,817,307 |
Operation Compassion A Tennessee Non-Profit Corporation Cleveland, TN | $18,764,537 | $70,147,882 |
United Faith Ministries Inc Norfolk, VA | $10,805,826 | $50,029,760 |
Answers In Genesis Inc Petersburg, KY | $94,175,549 | $47,216,237 |
Martha Obryan Center Inc Nashville, TN | $41,203,339 | $31,115,116 |
Strategic Resource Group Inc Easton, MD | $12,208,514 | $28,797,480 |
Rescue Missions Ministries Inc Durham, NC | $22,198,926 | $18,805,895 |
Word Among Us Inc Frederick, MD | $22,622,798 | $15,315,908 |
Sat-7 North America Easton, MD | $8,795,990 | $14,809,049 |
Advancing Native Missions Afton, VA | $4,333,922 | $11,124,622 |
National Pro-Life Alliance Springfield, VA | $3,799,169 | $8,934,186 |
Artists In Christian Testimony Brentwood, TN | $4,393,846 | $10,064,345 |