Project Independence Services Inc

Analysis

Project Independence Services Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in January 1989, 37 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending June 2023, Project Independence Services Inc reported income of $429k and spending of $299k, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $404k to $429k (+6.3%), an average of +1.5% a year. The sharpest change came in the year to June 2023, when income rose by 29%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project Independence Services Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Food at First ($429k), Lit Movement ($429k) and Macomb Charitable Foundation ($429k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 77% of the total. Other salaries and wages came to $91k. At year end it held assets of $1.6m against liabilities of $32k, net assets of $1.6m. It reported 9 employees.