Project Purple Inc

Analysis

Project Purple Inc is a registered charity in United States, based in Seymour, CT. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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, Project Purple Inc reported income of $2.6m and spending of $2.1m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.6m (+72%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Project Purple Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within CT. Charities of a similar size with the same main cause include House of Hope Foundation Inc ($2.6m), Runnemede Industries Inc ($2.6m) and Tri-Med Family Care Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $202k (9.6% of expenses). Other salaries and wages came to $338k. At year end it held assets of $1.9m against liabilities of $89k, net assets of $1.9m. It reported 15 employees.