Providence Revolving Fund Inc

Analysis

Providence Revolving Fund Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in April 1972, 54 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 February 2023, Providence Revolving Fund Inc reported income of $939k and spending of $1.1m, spending 113% of what it took in. Across the 4 years on record, from February 2020 to February 2023, income grew from $553k to $939k (+70%), an average of +19% a year. The sharpest change came in the year to February 2022, when income rose by 225%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Providence Revolving Fund Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within RI. Charities of a similar size with the same main cause include American Society of Clinical Psychopharmacology Inc ($939k), Whim Whim ($939k) and Rutland Region Community Television ($938k).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 44% and program service revenue 50% of the total. At year end it held assets of $11.7m against liabilities of $6.3m, net assets of $5.4m.