Project Hospitality Inc

Analysis

Project Hospitality Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in June 1985, 41 years ago. 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 Hospitality Inc reported income of $51.1m and spending of $49.4m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $37.0m to $51.1m (+38%), an average of +8.4% a year. The sharpest change came in the year to June 2022, when income rose by 15%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project Hospitality Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Arbor Acres United Methodist Retirement Community Inc ($51.0m), The Association for Choices in Cmnty SPPRTS Emplmnt SVCS N J Inc ($51.1m) and Dana-Farber Inc ($51.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $456k (0.9% of expenses). Other salaries and wages came to $19.2m. At year end it held assets of $39.5m against liabilities of $20.0m, net assets of $19.5m. It reported 485 employees.