Project Beginnings I Inc

Analysis

Project Beginnings I Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Project Beginnings I Inc reported income of $107k and spending of $142k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $120k to $107k (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2020, when income rose by 77%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Project Beginnings I Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 39th percentile within OH. Charities of a similar size with the same main cause include Ottawa River Estates Inc ($107k), Gptodco-B Inc ($107k) and Charles County Nursing and Rehabilitation Center Foundation ($107k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. At year end it held assets of $692k against liabilities of $798k, net assets of -$106k.