Path Inc

Analysis

Path Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 1975, 51 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Path Inc reported income of $49.4m and spending of $49.0m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $43.4m to $49.4m (+14%), an average of +3.3% a year. The sharpest change came in the year to June 2020, when income rose by 18%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Path Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include The Educational Alliance Inc ($49.3m), Goodwill Industries of Greater Cleveland and E Central Ohio Inc ($49.5m) and Georgia School Board Association Risk & Insurance Management System ($49.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.8m (3.7% of expenses). Other salaries and wages came to $27.5m. At year end it held assets of $90.4m against liabilities of $37.6m, net assets of $52.8m. It reported 766 employees.