Purpose Institute Inc

Analysis

Purpose Institute Inc is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in December 2005, 21 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 July 2024, Purpose Institute Inc reported income of $860k and spending of $858k, spending 100% of its income. Across the 5 years on record, from July 2020 to July 2024, income grew from $456k to $860k (+89%), an average of +17% a year. The sharpest change came in the year to July 2023, when income rose by 138%. Over the whole period it spent 101% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Purpose Institute Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include FPC Ministries ($859k), San Miguel School of Tulsa Inc ($860k) and Street Youth Ministry of Austin ($859k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 53% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $121k (14% of expenses). Other salaries and wages came to $36k. At year end it held assets of $96k against liabilities of $9,877, net assets of $86k. It reported 2 employees.