People of Praise Minn Inc

Analysis

People of Praise Minn Inc is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in August 1973, 53 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, People of Praise Minn Inc reported income of $2.0m and spending of $2.0m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.6m to $2.0m (+31%), an average of +9.5% a year. The sharpest change came in the year to June 2023, when income rose by 84%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, People of Praise Minn Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include St Marys Residence ($2.0m), Roseland Youth Center ($2.0m) and PTA Tennessee Congress of Parents Teachers Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 43% of the total. Other salaries and wages came to $430k. At year end it held assets of $17.8m against liabilities of $213k, net assets of $17.6m. It reported 25 employees.