Sharity Ministries Inc
- Assets
- $1.4m
- Revenue
- $129.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Atlanta, GA
- Founding
- 09/2018
- Data as of
- 12/2020
- EIN
- 83-1050344
Organization Overview
Sharity Ministries Inc is located in Atlanta, GA. The organization was established in 2018. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 12/2020, Sharity Ministries Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sharity Ministries Inc 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 12/2020, Sharity Ministries Inc generated $129.0m in total revenue. All expenses for the organization totaled $130.0m during the year ending 12/2020. While expenses have increased by 142.8% per year over the past 3 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.
Since 2018, Sharity Ministries Inc has awarded 18 individual grants totaling $330,002. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH GOD'S GUIDANCE, BRING TOGETHER PEOPLE OF A COMMON SET OF RELIGIOUS BELIEFS FOR THE PURPOSE OF VOLUNTARILY SHARING ONE ANOTHER'S MEDICAL EXPENSE BURDENS AND SO FULFILL THE LAW OF CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A 501(C)(3) NONPROFIT CHARITABLE ORGANIZATION, SHARITY MINISTRIES, INC, INC., ("ORGANIZATION") BROUGHT TOGETHER THOUSANDS OF PEOPLE WHO SHARE A COMMON SET OF BELIEFS FOR THE PURPOSE OF SHARING ONE ANOTHER'S MEDICAL EXPENSE BURDENS. THE ORGANIZATION UPHOLDS THE BIBLICAL COMMAND STATED IN GALATIANS 6:2 TO "BEAR ONE OTHER'S BURDENS, AND SO FULFILL THE LAW OF CHRIST." IN 2020, THE ORGANIZATION FACILITATED THE VOLUNTARY SHARING OF 36,348,434 IN MONTHLY FINANCIAL GIFTS AMONG ITS 21,941 MEMBER HOUSEHOLDS TO PAY FOR 90,433 MEDICAL SHARING REQUESTS. ADDITIONALLY, THE ORGANIZATION DONATED 181,000 TO OTHER NONPROFIT CHARITABLE ORGANIZATIONS IN THE U.S.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Joseph Guarino III President D | OfficerTrustee | 40 | $166,154 |
William H Thead III CEO | OfficerTrustee | 40 | $140,192 |
Joseph J Handy Treasuer Dir | OfficerTrustee | 2 | $18,000 |
Stephen W Vault Secretary Di | OfficerTrustee | 2 | $18,000 |
J Christopher Sizemore Chairman Dir | OfficerTrustee | 2 | $18,000 |
Name Not Listed Managing Dir | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aliera Healthcare Inc Management | 12/30/19 | $32,138,105 |
Baker Hostetler Llp Legal Services | 12/30/19 | $1,824,784 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $129,043,524 |
| Investment income | $0 |
| 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 | $129,043,524 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $181,002 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $46,319,355 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,269 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,566 |
| Fees for services: Management | $72,969,228 |
| Fees for services: Legal | $4,465,078 |
| Fees for services: Accounting | $265,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,697 |
| Advertising and promotion | $2,367,470 |
| Office expenses | $644 |
| Information technology | $3,980 |
| Royalties | $0 |
| Occupancy | $60,159 |
| Travel | $1,790 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,833 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $129,986,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,354,986 |
| 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 | $35,292 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,954 |
| Total assets | $1,395,232 |
| Accounts payable and accrued expenses | $224,858 |
| 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 | $224,858 |
| Net assets without donor restrictions | $1,170,374 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,395,232 |
Grants Awarded
Over the last fiscal year, Sharity Ministries Inc has awarded $181,002 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: SPONSOR | $121,000 |
Atlanta, GA PURPOSE: SPONSOR | $50,000 |
Atlanta, GA PURPOSE: SPONSOR | $5,001 |
Atlanta, GA PURPOSE: SPONSOR | $5,001 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Prisma Health-University Medical Group Greenville, SC | $134,365,616 | $657,970,757 |
Avmed Inc Gainesville, FL | $315,740,193 | $800,159,081 |
Florida Hospital Medical Group Inc Maitland, FL | $261,853,637 | $775,240,217 |
Roper Saint Francis Physicians Network Ladson, SC | $92,834,634 | $216,955,917 |
Florida Hospital Physician Group Inc Tampa, FL | $40,564,224 | $202,269,880 |
Memorial Health Partners Foundation Inc Chattanooga, TN | $34,336,235 | $106,834,470 |
Baycare Select Health Plans Inc Clearwater, FL | $47,758,230 | $90,273,183 |
Sharity Ministries Inc Atlanta, GA | $1,395,232 | $129,043,524 |
Pediatric Specialty Group Inc Miami, FL | $0 | $58,299,031 |
Athens Regional Specialty Services Inc Athens, GA | $28,364,283 | $72,507,816 |
Medical Education Assistance Corporation Mountain Home, TN | $46,494,527 | $58,785,837 |
Hamilton Physician Group Inc Dalton, GA | $5,859,770 | $25,048,912 |