Project Renewal Inc

Analysis

Project Renewal Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1968, 58 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Project Renewal Inc reported income of $116.5m and spending of $117.5m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $91.4m to $116.5m (+28%), an average of +6.3% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Project Renewal 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 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include St Nicholas Hospital of the Hospital Sisters of the Third ($116.2m), Mile Bluff Medical Center Inc ($116.7m) and Munson Healthcare Otsego Memorial Hospital ($116.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $1.7m (1.5% of expenses). Other salaries and wages came to $47.3m. At year end it held assets of $94.4m against liabilities of $84.0m, net assets of $10.4m. It reported 1,267 employees.