Phoenix Society Inc

Analysis

Phoenix Society Inc is a registered charity in United States, based in Kentwood, MI. It received its IRS tax-exemption ruling in August 1978, 48 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, Phoenix Society Inc reported income of $1.8m and spending of $2.8m, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.8m (-8.1%), an average of -2.1% a year. The sharpest change came in the year to December 2020, when income rose by 49%. Over the whole period it spent 124% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phoenix Society Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Foundation for Fraternal Excellence Inc ($1.8m), Old Fort Niagara Association Incorporated ($1.8m) and Career Development Center ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $307k (11% of expenses). Other salaries and wages came to $998k. At year end it held assets of $2.6m against liabilities of $1.3m, net assets of $1.3m. It reported 20 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.