Promise in Glen Rose Inc

Analysis

Promise in Glen Rose Inc is a registered charity in United States, based in Glen Rose, TX. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Promise in Glen Rose Inc reported income of $628k and spending of $546k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $627k to $628k (+0.3%), an average of +0.1% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Promise in Glen Rose Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include Columbia Presbyterian Church Foundation ($628k), DSC Ministries Inc ($628k) and Emmanuel Center Inc ($628k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 65% of the total. Other salaries and wages came to $249k. At year end it held assets of $551k against liabilities of $6,705, net assets of $544k. It reported 192 employees.