Providence Business Loan Fund

Analysis

Providence Business Loan Fund is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 June 2023, Providence Business Loan Fund reported income of $258k and spending of $376k, spending 146% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $239k to $258k (+8.1%), an average of +2.0% a year. The sharpest change came in the year to June 2021, when income rose by 65%. Over the whole period it spent 285% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Business Loan Fund sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 55th percentile within RI. Charities of a similar size with the same main cause include Minneola Health Care Foundation ($258k), Watkins Area Homes II Inc ($258k) and Lutheran Care for the Aging ($258k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $154k. At year end it held assets of $11.5m against liabilities of $2.4m, net assets of $9.1m.