Providence Place Inc

Analysis

Providence Place Inc is a registered charity in United States, based in Grafton, WI. It received its IRS tax-exemption ruling in May 2010, 16 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, Providence Place Inc reported income of $673k and spending of $969k, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $537k to $673k (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2020, when income rose by 22%. Over the whole period it spent 154% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Providence Place Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within WI. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($672k), Food for All Inc ($673k) and Rising Dove Senior Apartments ($672k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Other salaries and wages came to $106k. At year end it held assets of $6.9m against liabilities of $12.3m, net assets of -$5.4m. It reported 3 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.