Pearls of Promise Foundation Inc

Analysis

Pearls of Promise Foundation Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in May 2003, 23 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 December 2023, Pearls of Promise Foundation Inc reported income of $58k and spending of $52k, spending 90% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $146k to $58k (-60%), an average of -37% a year. The sharpest change came in the year to December 2023, when income dropped by 45%. Over the whole period it spent 41% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Pearls of Promise Foundation Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 22nd percentile within MI. Charities of a similar size with the same main cause include National Association of Charitable Gift Planners ($58k), Alden Youth Baseball Inc ($58k) and Milton High School Scholarship Fund Inc ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 7.5% and program service revenue 67% of the total. At year end it held assets of $437k against liabilities of $0, net assets of $437k.