“The number of approved tax-exempt organizations in 2008 was 1.9 million, and that does not include all churches. This represents a 50 percent increase since 1995.
Charities that are required to file returns with the Internal Revenue Service reported more than $2.2 trillion dollars in assets in 2005. That was equivalent to the combined assets of the retail trade sector, the transportation sector, and the non-exempt portion of the health care sector. On top of the $2.2 trillion, private foundations reported holding an additional $546 billion in assets.” Click here for the remarks of Sarah Hall Ingram, Commissioner, Tax Exempt and Government Entities, Internal Revenue Service, Nonprofit Governance-The View from the IRS.