Limitless Potential Inc

Analysis

Limitless Potential Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in October 2011, 15 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, Limitless Potential Inc reported income of $1.4m and spending of $1.2m, spending 90% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.1m to $1.4m (+26%), an average of +4.7% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Limitless Potential Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within IA. Charities of a similar size with the same main cause include Orcas Daycare Association ($1.4m), Woodburn Christian Childrens Home Inc ($1.4m) and LA Paz de Dios ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $319k (26% of expenses). Other salaries and wages came to $462k. At year end it held assets of $449k against liabilities of $13k, net assets of $436k. It reported 33 employees.