Gideons Promise Inc

Analysis

Gideons Promise Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2022, Gideons Promise Inc reported income of $2.1m and spending of $2.8m, spending 129% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.5m to $2.1m (+40%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 106%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gideons Promise Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within GA. Charities of a similar size with the same main cause include Snyder Senior Care Foundation Inc ($2.1m), Good Acre ($2.1m) and All Out Caring Inc ($2.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 51% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $251k (9.1% of expenses). Other salaries and wages came to $944k. At year end it held assets of $3.1m against liabilities of $702k, net assets of $2.4m. It reported 20 employees.