Progress Valley Inc Corporate Offices

Analysis

Progress Valley Inc Corporate Offices is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in March 1973, 53 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, Progress Valley Inc Corporate Offices reported income of $6.9m and spending of $7.0m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.1m to $6.9m (+13%), an average of +3.2% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Progress Valley Inc Corporate Offices sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Boy Scouts of America ($6.9m), Village Ranch Inc ($6.9m) and The Cooper Foundation Inc ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $529k (7.5% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $16.2m against liabilities of $3.4m, net assets of $12.7m. It reported 99 employees.