Proteus Inc

Analysis

Proteus Inc is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in November 1983, 43 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2024, Proteus Inc reported income of $7.0m and spending of $6.8m, spending 97% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $4.6m to $7.0m (+53%), an average of +8.9% a year. The sharpest change came in the year to June 2021, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Proteus Inc 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 94th percentile within IA. Charities of a similar size with the same main cause include Somercor 504 Inc ($7.0m), TD Jakes Foundation ($7.0m) and Northern Indiana Workforce Board Inc ($7.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $424k (6.2% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $2.4m against liabilities of $1.2m, net assets of $1.3m. It reported 78 employees.