Women in Progress Inc

Analysis

Women in Progress Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Women in Progress Inc reported income of $571k and spending of $601k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $531k to $571k (+7.7%), an average of +1.9% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Women in Progress Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MN. Charities of a similar size with the same main cause include Greater Gallup Economic Development Corporation ($571k), Borderplex Bi-National Economic Alliance Foundation ($571k) and Honor Your Dreams Foundation Inc ($571k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $108k (18% of expenses). Other salaries and wages came to $184k. It paid $1,661 in professional fundraising fees. At year end it held assets of $388k against liabilities of $354k, net assets of $33k. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.