Preble Street

Analysis

Preble Street is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in October 1990, 36 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Preble Street reported income of $28.7m and spending of $24.4m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.0m to $28.7m (+138%), an average of +24% a year. The sharpest change came in the year to June 2020, when income rose by 102%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Preble Street sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include Latino Network ($28.7m), Catholic Charities Inc Archdiocese of Hartford ($28.7m) and Lutheran Social Services of the National Capital Area Inc ($28.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $202k (0.8% of expenses). Other salaries and wages came to $12.1m. At year end it held assets of $36.7m against liabilities of $8.9m, net assets of $27.8m. It reported 439 employees.