Libertys Promise Inc

Analysis

Libertys Promise Inc is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in August 2003, 23 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 2023, Libertys Promise Inc reported income of $1.2m and spending of $1.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $998k to $1.2m (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Libertys Promise Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Wichita Mountains Prevention Network Inc ($1.2m), Stepping Stones Educational Therapy Center Inc ($1.2m) and Seed Sowers Evangelistic Association Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $89k (7.6% of expenses). Other salaries and wages came to $641k. At year end it held assets of $1.1m against liabilities of $258k, net assets of $856k. It reported 28 employees.