Progresso Latino

Analysis

Progresso Latino is a registered charity in United States, based in Central Falls, RI. It received its IRS tax-exemption ruling in July 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Progresso Latino reported income of $4.7m and spending of $4.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $4.7m (+62%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 24%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Progresso Latino 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 92nd percentile, and in the 89th percentile within RI. Charities of a similar size with the same main cause include Daughters of Sarah Housing Company Inc ($4.7m), Youth Crisis Center Inc ($4.7m) and Olympic Peninsula Young Mens Christian Assn ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $95k (2.1% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $3.9m against liabilities of $274k, net assets of $3.6m. It reported 127 employees.