Progress Inc

Analysis

Progress Inc is a registered charity in United States, based in Pipestone, MN. It received its IRS tax-exemption ruling in December 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Inc reported income of $813k and spending of $568k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $580k to $813k (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2021, when income rose by 74%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Progress Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within MN. Charities of a similar size with the same main cause include Illinois Stewardship Alliance ($813k), Taking the Reins ($813k) and Friendship Foundation Inc ($813k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.8% and program service revenue 94% of the total. Other salaries and wages came to $414k. At year end it held assets of $1.4m against liabilities of $2,764, net assets of $1.4m. It reported 50 employees.