Economic Progress Institute

Analysis

Economic Progress Institute is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 2010, 16 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Economic Progress Institute reported income of $1.0m and spending of $689k, leaving 33% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $640k to $1.0m (+60%), an average of +12% a year. The sharpest change came in the year to September 2023, when income rose by 59%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Economic Progress Institute sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 76th percentile within RI. Charities of a similar size with the same main cause include Lasalle School Foundation ($1.0m), Symphony of Southeast Texas Inc ($1.0m) and Catholic Charities of North Louisiana ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $116k (17% of expenses). Other salaries and wages came to $309k. At year end it held assets of $887k against liabilities of $37k, net assets of $850k. It reported 9 employees.