Providence House Inc

Analysis

Providence House Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in July 1981, 45 years ago. 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 June 2023, Providence House Inc reported income of $4.4m and spending of $4.2m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.8m to $4.4m (-7.4%), an average of -1.9% a year. The sharpest change came in the year to June 2020, when income rose by 20%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence House Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Copiah Educational Foundation Inc ($4.4m), Foundation School Incorporated ($4.4m) and Willow Brook Christian Communities ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $405k (9.7% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $11.2m against liabilities of $2.6m, net assets of $8.6m. It reported 84 employees.