Progressnow Education

Analysis

Progressnow Education is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 2008, 18 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 December 2023, Progressnow Education reported income of $2.8m and spending of $3.1m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $921k to $2.8m (+208%), an average of +32% a year. The sharpest change came in the year to December 2020, when income rose by 3094%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Progressnow Education sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Our Place Community Outreach ($2.8m), Arc-South Bay ($2.8m) and Haymarket Peoples Fund Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.3% of the total. Other salaries and wages came to $970k. At year end it held assets of $2.2m against liabilities of $1.1m, net assets of $1.0m.