Providence Foundation

Analysis

Providence Foundation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in September 1977, 49 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 September 2023, Providence Foundation reported income of $824k and spending of $1.0m, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $824k to $824k (+0.1%), an average of +0.0% a year. The sharpest change came in the year to September 2022, when income rose by 40%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within RI. Charities of a similar size with the same main cause include Preservation Alliance of West ($824k), Middlebury Senior Housing Associates Inc ($824k) and Child Crisis Arizona Foundation ($824k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $188k (19% of expenses). Other salaries and wages came to $217k. At year end it held assets of $456k against liabilities of $27k, net assets of $429k. It reported 5 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.