Providence Ministries Inc

Analysis

Providence Ministries Inc is a registered charity in United States, based in Green Bay, WI. It received its IRS tax-exemption ruling in August 1994, 32 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providence Ministries Inc reported income of $3.3m and spending of $2.1m, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $3.3m (+107%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 201%. Over the whole period it spent 43% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Ministries Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within WI. Charities of a similar size with the same main cause include Road Runners Club of America ($3.3m), Jewish Free Loan Association ($3.3m) and Brandywine Workshop and Archives Inc ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $60k (2.8% of expenses). Other salaries and wages came to $882k. It paid $1,799 in professional fundraising fees. At year end it held assets of $14.5m against liabilities of $4.0m, net assets of $10.6m. It reported 46 employees.