Proact Inc

Analysis

Proact Inc is a registered charity in United States, based in Eagan, MN. It received its IRS tax-exemption ruling in May 1973, 53 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2024, Proact Inc reported income of $12.6m and spending of $11.4m, spending 91% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $18.1m to $12.6m (-31%), an average of -7.0% a year. The sharpest change came in the year to June 2020, when income dropped by 21%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Proact Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include HWD Harrison Inc ($12.5m), Haywood Vocational Opportunities Inc ($12.6m) and Skills for Chicago ($12.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.4% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $375k (3.3% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $26.9m against liabilities of $1.8m, net assets of $25.1m. It reported 271 employees.