Providence College

Analysis

Providence College is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in December 1942, 84 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providence College reported income of $372.9m and spending of $349.7m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $316.6m to $372.9m (+18%), an average of +4.2% a year. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Providence College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within RI. Charities of a similar size with the same main cause include Somerset Academy Inc ($372.1m), Stephen Siller Tunnel to Towers Foundation ($373.0m) and Uma Education Inc ($371.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $4.3m (1.2% of expenses). Other salaries and wages came to $96.3m. It paid $147k in professional fundraising fees. At year end it held assets of $1.04bn against liabilities of $359.3m, net assets of $685.0m. It reported 2,846 employees.