Provport Inc

Analysis

Provport Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Provport Inc reported income of $14.7m and spending of $15.2m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.0m to $14.7m (+63%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Provport Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within RI. Charities of a similar size with the same main cause include El Paso Community Action Program Project Bravo Inc ($14.7m), Dreamspring ($14.7m) and New Jersey Community Development Corporation Inc ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $233k (1.5% of expenses). At year end it held assets of $50.5m against liabilities of $30.8m, net assets of $19.7m. It reported 1 employees.