People Incorporated

Analysis

People Incorporated is a registered charity in United States, based in Eagan, MN. It received its IRS tax-exemption ruling in November 1969, 57 years ago. 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, People Incorporated reported income of $58.2m and spending of $58.8m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $50.0m to $58.2m (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, People Incorporated sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Community Shelter Board ($57.9m), Health Federation of Philadelphia ($58.2m) and Goodwill Industries of Southern Nevada Inc ($57.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $1.6m (2.7% of expenses). Other salaries and wages came to $36.5m. It paid $29k in professional fundraising fees. At year end it held assets of $33.9m against liabilities of $9.1m, net assets of $24.8m. It reported 952 employees.