PRAKASH MINISTRIES

EIN: 822295638 501(c)(3) Religion

Virginia Beach, VA

Total Revenue
$478,141
Total Expenses
$191,371
Total Assets
$587,859
Net Assets
$587,859
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
VA
Principal Officer
FELIX PRAKASH
Phone
7574720151
Tax Period
2024-01-01 to 2024-12-31

PRAKASH MINISTRIES, founded in 2017, is a small nonprofit in the Religion sector that reported $340K in total revenue in fiscal year 2021. The organization ran a surplus of $148K, a strong 44% operating margin.

Mission

Ministry

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $211,824
Program Service Revenue $266,317
Investment Income $0
Other Revenue $0
TOTAL REVENUE $478,141

Expense Breakdown

Grants Paid $67,991
Salaries & Benefits $36,300
Fundraising Expenses $0
Program Expenses $122,315
Other Expenses $87,080
TOTAL EXPENSES $191,371

Year-over-Year Comparison

2024 2023 Change
Revenue $478,141 $259,548 +0.8%
Expenses $191,371 $315,825 -0.4%
Net Income $286,770 $-56,277 -6.1%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
1
Volunteers
40

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
3
$36,300
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Felix Prakash Officer 40.00
Director
$36,300 $0 $36,300
Richard Colquitt Director 20.00
Director
$0 $0 $0
Bob Obrien Director 20.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $478,141 $191,371 $587,859 $286,770
2023 $259,548 $315,825 $314,616 $-56,277
2022 $244,064 $184,939 $370,893 $59,125
2021 $339,645 $191,258 $330,399 $148,387
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