Project Eats Inc

Analysis

Project Eats Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Project Eats Inc reported income of $1.2m and spending of $1.5m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.2m (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2022, when income rose by 191%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project Eats Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include San Antonio Parks Foundation ($1.2m), Willard Community Center Corp ($1.2m) and Family Counseling Service of Athens Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $161k (11% of expenses). Other salaries and wages came to $680k. At year end it held assets of $3.1m against liabilities of $114k, net assets of $3.0m. It reported 32 employees.