Preachit Inc

Analysis

Preachit Inc is a registered charity in United States, based in Valparaiso, IN. It received its IRS tax-exemption ruling in May 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Preachit Inc reported income of $581k and spending of $864k, spending 149% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.1m to $581k (-45%), an average of -11% a year. The sharpest change came in the year to December 2021, when income dropped by 30%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Preachit Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within IN. Charities of a similar size with the same main cause include Pleasant Valley Free Library ($581k), Foundation for the Arts at the Core of Education ($581k) and Zambias Scholarship Fund ($581k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $302k. At year end it held assets of $1.8m against liabilities of $616k, net assets of $1.2m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.