People of Praise Inc

Analysis

People of Praise Inc is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in December 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, People of Praise Inc reported income of $4.1m and spending of $3.6m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $4.1m (+5.2%), an average of +1.3% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, People of Praise Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IN. Charities of a similar size with the same main cause include Mountain View Nursing Home ($4.1m), Boy Scouts of America ($4.1m) and Jewish Community Relations Council Minnesota & the Dakotas ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $278k (7.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $18.6m against liabilities of $638k, net assets of $18.0m. It reported 79 employees.