By Steve Rabey
Religion Correspondent

Colorado Springs is home to dozens of religious nonprofits that work around the U.S. and/or the world. The 10 largest of these groups have grown significantly since The Gazette last ranked them in 2016.

One of the biggest gainers was Biblica, which grew by 156% over the past nine years. The Bible translation and distribution ministry, founded in 1809, had been on a downward trajectory before it was revived by new leadership.

WaterStone, a donor adviser that’s a new entry on this list, more than doubled its income from 2023 to 2024.

Ministries benefit from year-end giving

Many ministries receive a significant amount of their annual income when people make year-end donations.

“Christmastime means giving time for many churchgoers,” reported Lifeway Research, part of the Southern Baptist Convention. People donate money and items to their churches as well as to local and national ministries and non-profits.

The city’s largest ministry, Compassion International, receives 29% of its annual income during the final quarter of the year, said Mark Hanlon, chief development officer. Compassion crossed the $1 billion mark in 2020 and has continued to thrive, but with year-to-year growth now measured in single digits, not double.

The ministry announced Friday that it was now ranked No. 11 on Forbes’ list of America’s Top 100 Charities, up from 12th last year.

Compassion helps 2.4 million children in 29 countries and is on track to register an additional million children and add new countries to its work, including Malawi, Zambia, and along the Thailand-Myanmar border, a region of conflict.

Compassion is also making progress in equipping and training its 9,000 global church partners to gather data on children’s physical, spiritual, and emotional health so programs can target those needs.

Compassion’s recent growth has come from major donors who have seen their assets increase in value. But the foundation of its income remains average Americans who sponsor children through the ministry for $43 a month.

Sponsorship income remains consistent year-to-year thanks to donors’ “ability to bond and connect with an individual child in need,” said Hanlon, who has been with Compassion for 45 years.

Lately, existing child sponsors have not been signing up for additional children as they did in the past as they struggle with rising costs.

Fast-growing advisory group

WaterStone is a nonprofit, but unlike the other groups on the list, it isn’t a ministry. It’s a donor advisory group. WaterStone receives donations, manages them as Donor Advised Funds, and allocates funds to some of the thousands of nonprofits it has researched.

In 2016, WaterStone had $60 million under advisement. Now it manages $2.1 billion. CEO Ken Harrison said the firm’s “exponential” growth comes from word-of-mouth, not marketing. One factor is “speed of service.”

Harrison says WaterStone can transfer donors’ funds to their chosen nonprofits within hours, as opposed to advisors that take weeks or months to do transfers, and that earn more profits for themselves through the delay.

The Association of Christian Schools International grew by 58%, in part because of a new program it launched in 2016.

“The difference in income between 2016 and 2024 is driven by the Children’s Tuition Fund program, which utilizes tax credit programs to provide scholarships for students at eligible schools, said spokesperson Caitlyn Harding.

“That program was still in its infancy in 2016, generating a few hundred thousand dollars. In 2024, the program generated over $14 million. The remaining income increase is due to growth in membership and related activities as well as growth in educational resources sales.”

Tracking ministry finances

Analyzing a ministry’s income and spending allows donors to find out how much of each dollar goes to programs, and how much goes to salaries, overhead costs and fundraising.

Most of the city’s largest national and international ministries make their financial information readily available on their websites. If they’re members of the Evangelical Council for Financial Accountability, donors can find their three-year financial overviews at ecfa.org.

Ministries generally aim to spend 80% or more of income on program services, but two local ministries boast even better figures. Every Home for Christ says it spends 92% of every dollar on ministry.

Publisher David C Cook boasts that “100% of donations go to global ministry.” Its nonprofit work is funded largely by sales of books, music and church curriculum.

Andrew Wommack Ministries is big enough to make The Gazette’s list of biggest ministries but it can’t be ranked because it declines to release any financial information.

Wommack’s radio ministry had income of less than $2 million a year through the mid-1990s. Growth soared after Wommack went on TV. The ministry reported income of $68 million in 2019, the last year it released financial data.

Community Bible Study, Inc. offers its financial information on its “Donate” page.  Summit Ministries doesn’t post its financial information on its website.

COLORADO SPRINGS’ LARGEST RELIGIOUS NONPROFITS

Colorado Springs is home to dozens of national and international religious nonprofits. The 10 largest groups have grown significantly since the last tally was conducted in 2016. (Figures are from 2024 financial reports.)

ORGANIZATION                  2024 INCOME           2016 INCOME           INCREASE

1. Compassion International       $1.376 billion       $766 million                  +80%

2. Young Life                             $539 million            $331 million                  +63%

3. WaterStone                          $496 million             $232 million                +114%

4. The Navigators                   $170 million                $115 million                 +48%

5. Focus on the Family           $143 million                $89 million                   +61%

6. David C Cook                      $67 million                  $57 million                  +18%

7. Every Home for Christ        $64 million                  $40 million                  +60%

8. Association of Christian Schools International  $48 million  $28 million +71%

9. Biblica                         $41 million                  $16 million                          +156%

10. Greater Europe Mission          $30 million        $19 million                   +58%