Portfolio Resident Services Inc

Analysis

Portfolio Resident Services Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Portfolio Resident Services Inc reported income of $7.5m and spending of $7.6m, spending 102% of its income. Across the 5 years on record, from October 2019 to December 2023, income grew from $6.0m to $7.5m (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2022, when income rose by 501%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Portfolio Resident Services Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Touch-Stone Solutions Inc ($7.5m), Chimes Virginia Inc ($7.5m) and Thrive Support & Advocacy Inc ($7.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 97% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $2.9m against liabilities of $423k, net assets of $2.5m.

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.