Presidential Place Inc

Analysis

Presidential Place Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 March 2024, Presidential Place Inc reported income of $72k and spending of $97k, spending 136% of what it took in. Across the 6 years on record, from March 2019 to March 2024, income grew from $64k to $72k (+13%), an average of +2.4% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Presidential Place Inc sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within PA. Charities of a similar size with the same main cause include Oakmont Gardens Inc ($72k), Brass City Residences Inc ($72k) and Edison Affordable Housing Inc ($72k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 59% and program service revenue 38% of the total. At year end it held assets of $533k against liabilities of $646k, net assets of -$113k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.