Peoples Redevelopment Corporation

Analysis

Peoples Redevelopment Corporation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 1972, 54 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Peoples Redevelopment Corporation reported income of $360k and spending of $388k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $444k to $360k (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Peoples Redevelopment Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 61st percentile within RI. Charities of a similar size with the same main cause include United Church Residences of Immokalee Florida Inc ($360k), Generating Hope Inc ($360k) and Village of Hope Inc ($359k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $11.6m against liabilities of $408k, net assets of $11.2m.