Providence House Inc

Analysis

Providence House Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1946, 80 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 June 2023, Providence House Inc reported income of $16.5m and spending of $13.7m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.7m to $16.5m (+189%), an average of +30% a year. The sharpest change came in the year to June 2021, when income rose by 88%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Providence House Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Cast Inc ($16.5m), The Campaign Against Hunger Inc ($16.6m) and Futures First Inc ($16.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $358k (2.6% of expenses). Other salaries and wages came to $4.2m. It paid $48k in professional fundraising fees. At year end it held assets of $18.9m against liabilities of $5.1m, net assets of $13.8m. It reported 124 employees.